Commercial/Agriculture Loans
Last Update: January 24, 2025
SK, Canada
Commercial and agricultural First Nations business loans in Saskatchewan
Commercial/Agriculture Loans at a glance
Eligible Funding
- No Condition
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- Agriculture, forestry, fishing and hunting
Grant Providers
- Saskatchewan Indian Equity Foundation Inc. (SIEF)
Status
Open
Overview of the Commercial/Agriculture Loans program
Capital loans, working capital and other financing for First Nations businesses where traditional financing is not available.
Financing terms and conditions
This loan program provides customized financial solutions to meet the diverse needs of First Nation entrepreneurs in Saskatchewan. The available financing modalities are carefully structured to facilitate both startup and expansion phases.
- Capital loans for the acquisition of necessary business assets.
- Operating loans to manage short-term cash flow needs.
- Participation loans in collaboration with other financial institutions for larger financing requirements.
Eligible projects & activities
This grant provides financial support for First Nation entrepreneurs in Saskatchewan to undertake various commercial and agricultural activities essential for business development and growth. Eligible activities include starting new ventures, acquiring existing businesses, and expanding current operations.
- Starting a new First Nation-owned business in Saskatchewan.
- Acquiring an existing business to enhance operational capacity.
- Expanding the scope or scale of a current business endeavor.
- Purchasing assets necessary for business operations through capital loans.
- Securing short-term operating loans to manage daily business activities.
- Partnering with financial institutions for participation loans to meet larger financing needs.
- Developing and maintaining agricultural operations of various scales.
Examples of admissible projects:
$ 300,000
Acquiring an established renewable energy company to expand into new markets
$ 90,000
Expanding a First Nations IT service company to develop cyber-security solutions
$ 150,000
Opening a new organic farm specializing in indigenous crops near the city limits
$ 60,000
Expanding an existing eco-tourism business to include cultural heritage tours
$ 120,000
Starting a solar-powered fishery to promote sustainable fishing practices
$ 45,000
Starting a First Nations artist cooperative for indigenous handcrafted goods
Eligibility criteria of the Commercial/Agriculture Loans program
The eligibility criteria for businesses applying for SIEF loans are focused on ownership, location, and the applicant's preparation and resources.
- The business must be First Nation-owned with at least 51 percent ownership.
- The business must be operating in Saskatchewan or perform the majority of the work/operation in Saskatchewan.
- The applicant must be First Nations and a resident of Saskatchewan.
- The applicant must be at least 18 years old.
- The applicant must be starting a new business, acquiring an existing business, or expanding a current business.
- The applicant must have prepared a business plan with financial projections for a minimum of three years.
- The applicant must have completed a commercial or agricultural loan application, signed and returned to the appropriate officer.
- The applicant must have adequate collateral so that the loan is fully secured.
- The applicant must have cash equity to use towards the business as SIEF will not provide 100 percent financing.
Who is eligible?
The grant is specifically targeted at First Nation entrepreneurs and businesses operating in Saskatchewan who are looking to start, acquire, or expand their business operations. Eligible applicants must be at least 18 years old and able to demonstrate majority First Nation ownership of the business.
Who is not eligible
This grant is directed specifically at First Nation-owned businesses operating in Saskatchewan. As such, there are certain restrictions based on ownership and operation location that must be adhered to.
- Companies that do not have at least 51 per cent First Nation ownership.
- Businesses not operating or performing the majority of their operations in Saskatchewan.
- Individuals or entities that are not residents of Saskatchewan.
Eligible expenses
This grant supports First Nation entrepreneurs in starting, acquiring, or expanding businesses within Saskatchewan. Eligible activities include initiatives related to commercial and agricultural operations.
- Starting a new business with a focus on asset acquisition and operational funding.
- Acquiring an existing business to continue and expand its operations.
- Expanding an existing business to increase its scale and operational capacity.
Eligible geographic areas
This loan program is available to First Nation entrepreneurs operating primarily within a specified geographical area. Eligibility is centered on businesses in this region to promote local economic development.
- Businesses operating in Saskatchewan.
- Businesses performing the majority of their work in Saskatchewan.
Eligibility criteria of the Commercial/Agriculture Loans program
There are evaluation and selection criteria for this grant. The eligibility criteria include: being a First Nation-owned business with at least 51% ownership, operating in or majority of work done in Saskatchewan, and the applicant must be a First Nations resident of Saskatchewan over 18 years old.
- Business must be First Nation-owned with at least 51% ownership
- Business must operate in Saskatchewan or perform the majority of work in Saskatchewan
- Applicant must be a First Nations resident of Saskatchewan, over 18 years old
- Applicant must be starting a new business, acquiring an existing business, or expanding a current business
- Applicant must have a business plan with financial projections for a minimum of three years
- Applicant must complete a commercial or agricultural loan application
- Applicant must have adequate collateral for a fully secured loan
- Applicant must have cash equity to use towards the business as full financing is not provided
How to apply to the Commercial/Agriculture Loans program
1
Contact SIEF
- Reach out to SIEF via phone, email, or in-person visit to discuss your loan needs.
- Schedule a consultation with a Commercial Account Officer or Agriculture Account Officer to understand available financial solutions and ensure eligibility criteria are met.
2
Prepare Business Plan
- Develop a comprehensive business plan that includes detailed financial projections for a minimum of three years.
- Utilize business advisory services offered by SIEF’s Business Development Officers if needed.
3
Complete Loan Application
- Fill out the appropriate Commercial Loan Application or Agricultural Loan Application available through SIEF.
- Ensure all sections are completed accurately and all required fields are filled.
4
Gather Required Documents
- Compile necessary documents such as proof of First Nation ownership and business residency in Saskatchewan.
- Include evidence of adequate collateral and cash equity for the business venture.
5
Submit Application
- Sign the completed loan application form.
- Send the application along with all supporting documents to the relevant SIEF Account Officer.
Additional information
Here are additional relevant details for this grant:
- SIEF offers business consulting services and advice to support entrepreneurs beyond just providing loans.
- Business advisory services are accessible through SIEF's Business Development Officers to assist with planning and financial projections.
- Commercial Account Officer and Agriculture Account Officer are available for guidance on loan options and application processes.
Apply to this program
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