CDEM — Financing
MN, Canada
Loans for Manitoba Francophone entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateFebruary 9, 2024
- grant_single|closingDateMarch 25, 2024
- grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Economic Development Council for Manitoba Bilingual Municipalities (CDEM)
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Loans for Francophones to finance start-up, expansion and creation of an export division.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$ 90,000
Creating an organic farm startup, owned by Francophones
$ 60,000
Starting a Francophone language and cultural center
$ 75,000
Expansion of a Francophone-owned bakery to diversify products
$ 150,000
Expanding a Francophone-owned tech startup to include AI solutions
$ 105,000
Creating an export division for a woodworking company
$ 120,000
Establishing a new IT consultancy firm by Francophones
grant_single_labels|admissibility
Eligibility for CDEM’s Investment Fund is determined by specific requirements related to the business ownership and operations.
- The business must belong to one or several Francophones who own at least a 50% interest in the business.
- The business must operate or be about to operate in Manitoba.
- Any loan request must be accompanied by an appropriate and reasonable business plan showing the real potential for commercial viability and the ability to repay.
- The applicants must prove they have explored all other reasonable methods to obtain financial support and were unable to obtain this support.
grant_eligibility_criteria|who_can_apply
The grant is specifically targeting Manitoba businesses primarily owned by Francophones, which means they should have a minimum of 50% Francophone ownership. The businesses must either be operational or slated to operate in Manitoba and need to accompany their loan request with a detailed and reasonable business plan that demonstrates commercial viability and repayment capability. Furthermore, applicants must show that they have exhausted all other reasonable avenues for financial support but were unable to secure it.
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for the CDEM Investment Fund grant. To qualify, a business must:
- Be owned by Francophones who own at least a 50% interest in the business.
- Operate or is about to operate in Manitoba.
- Submit a reasonable business plan demonstrating commercial viability and repayment ability.
- Show efforts in exploring other financing options before seeking support from the fund.
grant_eligibility_criteria|eligible_expenses
This investment fund provides financial support for businesses owned by Francophones in Manitoba, supporting new ventures and growth activities. Eligible projects mainly focus on business start-up, expansion, and diversification plans.
- Business start-up activities for new ventures.
- Expansion projects to grow existing businesses.
- Diversification initiatives to expand business offerings.
grant_eligibility_criteria|zone
This grant specifically targets businesses operating or about to operate in Manitoba. This geographic focus ensures support for Francophone-owned enterprises within the province.
- Businesses operating in Manitoba.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant.
- The business must belong to one or several Francophones who own at least a 50% interest in the business.
- The business must operate or is about to operate in Manitoba.
- Any loan request must be accompanied by an appropriate and reasonable business plan showing the potential for commercial viability and ability to repay.
- Applicants must prove they have explored other methods to obtain financial support and were unable to secure it.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Contact CDEM
- Reach out to Joel Lemoine at jlemoine@cdem.com for initial inquiries and guidance on the application process.
- Step 2: Prepare Business Plan
- Develop a comprehensive business plan that demonstrates commercial viability and the business’s repayment capability.
- Step 3: Explore Other Funding Sources
- Document and present evidence of attempts to acquire funding from other sources.
- Step 4: Submit Application
- Send the completed business plan and required documents to CDEM for review.
- Step 5: Receive Feedback
- Wait for feedback or further instructions from CDEM on the status of your application.
grant_single_labels|otherInfo
Here is additional relevant information about the CDEM's Investment Fund:
- CDEM is a partner with Western Economic Diversification and the Business Development Bank of Canada in managing a risk capital fund for Manitoba Francophone businesses.
- Joel Lemoine is the contact person for inquiries regarding business services, including the Investment Fund, at CDEM.
grant_single_labels|contact
jlemoine@cdem.com
