To increase support to northern businesses, Prosper NWT increased its lending and investment limit from $2 million to $5 million per business enterprise, including related entities.
This significant enhancement means more capital for expansion, innovation, and long-term success. It’s an opportunity to think bigger, move faster, and strengthen the impact in the Northwest Territories (NWT).
This increase, approved by the Financial Management Board of the Government of the Northwest Territories, under subsection 23(3) of the Prosper NWT Act, enhances Prosper NWT’s capacity to support larger-scale investments in key sectors such as housing, critical minerals, large-scale public infrastructure projects, and emerging technologies like artificial intelligence (AI) and data storage.
The new limit responds to the growing capital needs of businesses and reinforces Prosper NWT’s commitment to building a strong, sustainable economy for the territory. By expanding access to financing, Prosper NWT will help businesses grow, create jobs, and attract private investment in support of the 20th Legislative Assembly’s Mandate (2023–2027) priorities—improving the suitability, accessibility, and affordability of housing, and supporting a strong economic foundation across the territory.
Quotes
“Increasing Prosper NWT’s lending and investment limit gives northern businesses the resources they need to pursue new opportunities in key sectors such as housing and critical minerals. This change aligns with our government’s priorities to strengthen the territory’s economic foundation, encourage private investment, and provide new opportunities for northerners.”
– Caitlin Cleveland, Minister Responsible for Prosper NWT
“This increase represents a significant step forward for Prosper NWT. By expanding our capacity to provide larger loans and investments, we can better support major projects that drive growth, innovation, and self-sufficiency in the NWT economy.”
– Joyce Taylor, Chief Executive Officer, Prosper NWT
Quick Facts
- Prosper NWT’s maximum lending and investment limit has increased from $2 million to $5 million per business enterprise (including related entities) under the Loans and Investment Fund.
- The change enables Prosper NWT to support larger-scale projects in sectors such as housing, critical minerals, large-scale infrastructure, and emerging technologies.
- Prosper NWT’s total loan and investment portfolio as of March 31, 2025, is approximately $45.9 million.
- Since 2005, Prosper NWT has disbursed over $130 million to more than 850 NWT businesses, supporting the creation or maintenance of over 2,000 jobs across the territory.
- Prosper NWT operates under strong financial and risk management policies, ensuring all lending decisions maintain fiscal responsibility while supporting strategic economic growth.
- Prosper NWT, a public agency of the Government of the Northwest Territories, was formally known as the Northwest Territories Business Development and Investment Corporation or BDIC.
Media Requests:
Tania Oosting
Manager, Public Affairs, Marketing and Communications
Prosper NWT
prospernwtinfo@gov.nt.ca