Nishnawbe Aski Development Fund Provides Valuable Services To Business
by Scott A. Sumner
Thunder Bay Business
The Nishnawbe Aski Development Fund started in early 80s when the Treaty Chief’s mandated the company. They have grown in the last 25 years in terms of product, scope and size. NADF have products and services related to business, community economic evelopment and economic development services. They serve 4 treaty areas including Treaty No 9 Nishnawbe Aski Nation, North of Timmins to Hudson Bay and NW border with Manitoba, communities of Robinson Superior 1850 Treaty No 3 and the Ontario portion of Treaty No 5.
“ I help Harvey Yesno, our President and CEO do his job by providing support in the General Management of NADF,” said Gusiseppe Bnicore who was born and raised in Winnipeg and went to University of Manitoba in B. Comm program before moving to Thunder Bay in 2000. “Our core business is developmental lending to help Aboriginal Entrepreneurs
start up or grow in a community or off reserve. We are here to help to provide these kind of services. We do business plans, provide existing entrepreneurs with some advice financial management, bookkeeping or POS systems or marketing support services,” noted Bunicore. “ Our goal and mandate is much broader than just lending money. For entrepreneurs to succeed they will need a whole lot more than money. They need good people and rganizations around them. In a nutshell that is what is we are about. We have about 20 people in Centennial Square and we have a branch office in Timmins.”
The Nishnawbe Aski Development Fund will help young people or older people and everyone in between. “ Often times they have an idea but don’t know how to get it rolling off the ground. We can help them with steps like research or surveys of their community to access the market. Entrepreneurs can get frustrated if they don’t get help,” noted Bunicore. “ We have people with specialities in the resource sector including facilitation and coordination to First Nation communities interested in mining or energy support services. The resource sector is providing lots of opportunities. We want to help the communities with meaningful roles in those activities.”
The NADF receives government funds as operating funds as well as other funds. They also have capital pools to provide loans and those are replenished. They also have their own seed capital from the 80’s from the Federal Government and want to become self sustaining to
generate revenue.
Wasaya is a success story for NADF. “ We have a close relationship with them and helped them get off the ground. They are a success story now. Wasaya supports our Gala Awards Dinner which will be held Wednesday October 22 in Timmins this year. They give back to the
community. We are happy to have been a part of their early days,” said Bunicore. “ We try to get business off the ground. It is kinda like having kids. You provide them with support and eventually they become independent and can stand on their own two feet. Our support is to give the initial head start until they don’t need us anymore.”
The Nishnawbe Aski Development Fund can provide loans and a wide range of products from as small a few thousand dollar non repayable loan up to $ 250,000 but they can go beyond that on board approval. NADF was established in 1984 and started in 1987.