Commercial/Agriculture Loans
SK, Canada
Commercial and agricultural First Nations business loans in Saskatchewan
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Saskatchewan Indian Equity Foundation Inc. (SIEF)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Capital loans, working capital and other financing for First Nations businesses where traditional financing is not available.
grant_single_labels|projects
The eligible geographical areas for companies applying for this grant are determined based on the location of operations within Saskatchewan. The focus is specifically on businesses that are First Nation-owned and primarily active within the province.
- Businesses operating in Saskatchewan.
- Entities performing the majority of their work in Saskatchewan.
grant_single|admissibleProjectsExample
$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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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.
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
The loans offered by SIEF cover expenses related to capital investments, operational needs, and exceeding financing requirements through partnerships.
- Purchase of business assets to begin operations.
- Short-term cash needs for daily operations.
grant_single_labels|criteria
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
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 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.
- Step 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.
- Step 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.
- Step 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.
- Step 5: Submit Application
- Sign the completed loan application form.
- Send the application along with all supporting documents to the relevant SIEF Account Officer.
grant_single_labels|otherInfo
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
Empowering First Nation Entrepreneurs Through SIEF's Loan Solutions
Designed to support First Nation entrepreneurs in Saskatchewan, the SIEF grant program offers commercial and agricultural loans to foster the growth of businesses within these communities. These loans provide the necessary capital for startups, acquisitions, and expansions, ensuring the sustainable development of First Nation-owned businesses.
In-Depth Understanding of SIEF’s Loan Opportunities
SIEF (Saskatchewan Indian Equity Foundation) is dedicated to empowering First Nation entrepreneurs by providing accessible financial solutions tailored to the specific needs of businesses in Saskatchewan. This grant ensures that First Nation entrepreneurs have the resources and support needed to succeed, covering a range of sectors from commercial enterprises to agriculture. The initiative recognizes the vital role that entrepreneurship plays in economic development and aims to address some of the financial barriers that might otherwise hinder business growth in these communities.
This grant program provides various loan options including capital loans, operating loans, and participation loans, each designed to meet different stages and needs of business development. Capital loans are oriented towards entrepreneurs needing to purchase essential assets to launch their ventures. This could include anything from equipment to real estate necessary for operations. Meanwhile, operating loans are structured to provide short-term financial assistance, helping businesses manage their daily operations smoothly when cash flows may be insufficient.
Participation loans demonstrate SIEF’s openness to collaboration, allowing joint funding with other financial institutions for projects that require more expansive financing than SIEF's lending limits allow. This partnership approach expands the scope of support available to applicants, ensuring that even larger-scale projects have the backing they need to proceed.
Eligibility for the grant hinges on a set of criteria emphasizing First Nation ownership and operational presence in Saskatchewan. Each applicant must demonstrate a minimum 51% First Nation ownership of their business, ensure residency in Saskatchewan, and meet age and business preparedness criteria. By putting these frameworks in place, SIEF aims to not only prioritize representation within their lending but also to strengthen local economic activities, as these businesses must operate primarily within Saskatchewan.
Beyond financial assistance, this grant underscores the importance of strategic planning. Applicants are required to present a well-prepared business plan with financial projections for a period of at least three years. This planning phase is crucial as it fosters a long-term vision and strategy, increasing the likelihood of business sustainability and success. Furthermore, SIEF offers business advisory services through its Business Development Officers, providing invaluable guidance and expertise to applicants throughout the application process. This support ensures that entrepreneurs are not navigating the complexities of business development on their own but are equipped with knowledge and resources to make informed decisions.
One of the distinctive aspects of SIEF's loan solutions is their commitment to supporting agricultural businesses of all scales. Recognizing that agriculture is not merely an industry but a way of life for many First Nation communities, SIEF pledges respect and assistance to operations of all sizes, from small family-run farms to large, full-time agricultural enterprises. This holistic approach to funding reflects a deep understanding of the cultural and economic significance of agriculture in these communities and aims to sustain and enhance it.
Overall, the SIEF loan program is a strategic initiative designed to foster entrepreneurship, economic growth, and community empowerment among First Nation peoples. By aligning financial support with robust advisory services, SIEF not only provides the necessary tools for immediate business needs but also strengthens the foundations for long-term success and sustainability, ultimately contributing to a thriving and self-sufficient entrepreneurial ecosystem within the First Nations of Saskatchewan.
