Atuqtuarvik is an Inuit-owned corporation; its shareholder is NTI Economic and Social Initiatives Inc. (NESII), a holding company of Nunavut Tunngavik Inc. (NTI). The corporation is a selfsustaining company. “Therefore, clients pay interest on their financing. It also means that Atuqtuarvik does not receive funding or subsidies from any sources,” says Hick. “We lend out the initial capital given to the corporation and as that money gets paid back, we lend it out again. Over the last 23 years, Atuqtuarvik has provided more than $160 million in debt and equity financing. As well, our loss ratio has remained low at 3.1 per cent, which is a testament to our clients and us working together. We are pleased to say that Atuqtuarvik still has the original $70 million in capital as well as positive retained earnings.” Atuqtuarvik Corporation Building - Our Office Building Mark Kalluak Building Ceremony 36 APR 2023 | BUSINESS ELITE CANADA
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