Business Grant & Loan Program

By mmuise
Description:

Louis Riel Capital Corporation (LRCC) provides a Business Grant & Loan Program to finance the start-up, acquisition and/or expansion of a Metis-owned small business in Manitoba.


Comments on Funding:

Maximum amounts under this program are:
- $99,999.00 in grant funding.
- $250,000.00 in commercial loan funding. Some projects may qualify for a higher loan amount on an exception basis.

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be Metis-owned small business in Manitoba;
  • be business owners able to make a cash investment of no less than 10% of the total project costs;
  • have businesses registered in Manitoba;
  • have ownership of at least 51% Metis owned with valid MMF Citizenship Card(s). These Metis owner(s) must also reside in Manitoba;
  • have at least one principal Metis-owner actively involved in the business on a day-to-day basis and have the specific skills, training and knowledge to carry out the business;
  • have projects generally be above $25,000.00 unless the applicant is an existing business looking to expand. (For start-ups under $25,000.00 please see: /mmf-entrepreneurship-initiative);
  • not be businesses such as bars (alcohol provider), gambling (VLTs), sexually exploitive in nature, pawnshops, payday loans, tobacco retailer or manufacturer, etc.;
  • not be passive investments: (i.e. real estate, apartment building or complexes or a business that someone else is managing for the owner).
  • Certain costs such as an asset that can be perceived to be for personal use, such as a car or pick-up truck, will not be eligible for grant funding but may be eligible for loan financing.
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise