Entrepreneur Loan Program

This program assists Manitoba First Nation entrepreneurs by offering subordinated interest-free loans up to $250,000 (or 50% of the project costs), enhancing their ability to leverage financing from other sources.

First Peoples Economic Growth Fund

Overview of the Entrepreneur Loan Program program:

The Entrepreneur Loan Program offered by the First Peoples Fund is designed to support Indigenous entrepreneurs in building and growing their businesses. This program provides crucial financial assistance in the form of loans, along with guidance and resources to help entrepreneurs succeed in their ventures. The program is tailored to meet the specific needs of Indigenous business owners, empowering them to create sustainable economic opportunities within their communities.

Benefits of the Entrepreneur Loan Program program:

Participants in the Entrepreneur Loan Program gain access to:
Financial Support: The program provides loans to help entrepreneurs start, expand, or stabilize their businesses. The funds can be used for various business needs, including purchasing equipment, inventory, or property, covering operational expenses, or supporting marketing efforts.
Business Guidance: Along with financial assistance, participants receive mentorship and business training to help them navigate the challenges of entrepreneurship. This support includes access to workshops, networking opportunities, and personalized business advice.
Community Impact: By supporting Indigenous entrepreneurs, the program contributes to the economic development of Indigenous communities, fostering job creation and economic self-sufficiency.

Eligibility criteria of the Entrepreneur Loan Program program:

Applicants must:
Be a member of a Manitoba First Nation, living on or off reserve in Manitoba.
Be aged 18 and over, and eligible to work in Canada.
Provide a sound business plan that demonstrates viability of the business.
Not have owned a similar business in the past 12 months.
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:
Have a profit objective (not-for-profit projects will not be considered).
Demonstrate viability through a sound business plan.
Primarily operate in Manitoba.
Be reputable and appropriate in nature.
Be at least 51% owned and controlled by a member of a Manitoba First Nation