NEW PROGRAM
The REIP is intended to provide debt or equity financing to large-scale businesses in either the Energy or Resource sectors of the Manitoba economy. All investment will be made in Manitoba to enhance the ownership and participation of First Nations or First Nation entrepreneurs in those businesses that show high potential for viability. Applicants must present a sound business plan.
Nature of Financing
Typical financing available will be from $500,000 to $1,500,000 and will typically represent about 20% of the total financing.
Eligibility Criteria
Businesses funded under this program must:
- Have a profit objective (not-for-profit projects will not be considered).
- Demonstrate viability through a sound business plan.
- Primarily operate in Manitoba.
- Be in the Resource or Energy sectors (including servicing major Resource or Energy developments).
- While First Nation ownership and control is the ultimate goal, it is recognized that many of these larger-scale business ventures may be partnerships or joint ventures where the First Nation owners will be less than 50%.
Forms of Financing Options:
- Debt
- Subordinated debt
- Common shares
- Preferred shares
- Convertible preferred shares
- Convertible debentures
- Mortgages
- Units in a limited partnership or joint venture
- Or other agreed upon form.
The Resource & Energy Investment Program is an initiative supported by the Government of Canada, Manitoba Hydro and First Peoples Economic Growth Fund.
Please contact us if you have a business idea and/or a detailed business plan that fits the above criteria. (Application form will be available on-line in the near future.)
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