Supporting the Manitoba First Nation Business Community
Entrepreneur Loan Program

This program is intended to assist Manitoba First Nation entrepreneurs by providing capital and/or working capital through subordinated interest-free loans that will enhance the applicant's ability to leverage financing from other institutions and agencies.

Loan Terms and Conditions

  • Each loan will be for the lesser of $200,000 per project, or 50% of the fair market value of the total project costs (including identified startup costs and working capital) identified in the project costs. Appraisal of the project costs may be required.
  • Loans are repayable over a term normally not to exceed 10 years (buildings not to exceed 20 years).
  • Business assets will be registered as security or collateral for the loan subordinate to other debt financing obtained to support business activities.
  • Loan proceeds can be used for the following purposes: starting a new business, purchasing an existing business, or upgrading or expanding an existing business.
  • Loans are not provided for refinancing purposes. Proceeds cannot be obtained to repay existing debt.
  • Loans under this program are intended to supplement financing from other sources.

Eligibility Criteria

Applicants must:

  1. Be a member of a Manitoba First Nation, living on or off reserve in Manitoba.
  2. Be aged 18 and over, and eligible to work in Canada.
  3. Provide a sound business plan that demonstrates viability of the business.
  4. Not have owned a similar business in the past 12 months.
  5. Contribute equity equal to a minimum of 5% of the total project costs. Business projects deemed by the Fund to be higher risk will require larger equity contributions. The applicant's equity contribution can be:
    • Cash
    • Unencumbered business assets supported by purchase invoices or other appropriate documentation supporting the fair market value of the business assets.

Businesses funded under this program must:

  1. Have a profit objective (not-for-profit projects will not be considered).
  2. Demonstrate viability through a sound business plan.
  3. Primarily operate in Manitoba.
  4. Be reputable and appropriate in nature.
  5. Be at least 51% owned and controlled by a member of a Manitoba First Nation.

Supplementary Loans

The business entity is eligible for supplementary loans based on the following:

  • It has been a full twelve months since the last loan granted under the First Peoples Economic Growth Fund (FPEGF).
  • The total loan commitment including the new loan does not exceed $200,000.
  • The business has provided FPEGF with a satisfactory yearend financial statement. Depending on the complexity of the business and its internal controls, FPEGF will have flexibility in accepting:
    • Quality prepared
    • Internally prepared
    • Auditor prepared notice to reader statement
    • Auditor prepared review engagement statements, or
    • Audited financial statements.
  • Financial statements should not be more than six months old.
PDF Format Entrepreneur Loan Application (PDF format)
Microsoft Word Format Entrepreneur Loan Application (Word format)
PDF Format Entrepreneur Loan Approval Criteria

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