First Peoples Economic Growth Fund – Business Contribution Fund
MN, Canada
Financial support for Manitoba First Nation businesses
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Retail trade
- Accommodation and food services
- Other services (except public administration)
- Public administration
grant_single|grantors
- First Peoples Economic Growth Fund Inc. (FPEGF)
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grant_card_status|open
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Get a non-repayable contribution of up to 30% of eligible costs for start-up, expansion or acquisition of a business that is majority Manitoba First Nation-owned.
grant_single_labels|projects
This grant is available to companies headquartered in Manitoba, providing support to specific geographic areas as defined by the eligibility criteria. Businesses must be based in Manitoba to qualify for this funding opportunity.
- Businesses headquartered in Manitoba.
- First Nations communities based within Manitoba.
grant_single|admissibleProjectsExample
$28,200
Expanding a software development company specializing in education technology
$21,000
Expanding a First Nation-owned eco-tourism business
$21,000
Opening a sustainable café focusing on local produce and zero-waste
$13,500
Launching a First Nation artisan crafts store
$24,000
Starting a fish-farming business with eco-friendly practices
$29,700
Acquiring an existing eco-lodge and transitioning it to renewable energy
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the ownership, financial structure, and operational plans of the business.
- The applicant must have a minimum of 10% cash equity to invest in the business.
- A minimum of a 40% commercial loan must be part of the total business financing.
- The business must be at least 51% owned by a First Nation band, First Nation band member, or a group of First Nations.
- First Nation members and communities outside Manitoba are eligible if the business headquarters are located in Manitoba.
- In case of a partnership, the business must be at least 51% First Nation owned, and the contribution will reflect the First Nation's ownership proportion.
- The First Nation owner or partner must be an integral part of the business operations.
- The business must demonstrate viability and management capacity via a business plan submission.
- The business should not belong to excluded categories such as bars, gambling establishments, pawn shops, etc.
- It must not be a passive investment.
- The business should not cause significant harm to existing businesses.
- A control period usually lasting three years will apply, during which financial statements must be prepared and a "Business Performance Review" submitted.
grant_eligibility_criteria|who_can_apply
This grant is available for projects associated with starting up, expanding, or acquiring a business owned by First Nations in Manitoba. Specific eligibility criteria need to be met, such as having a minimum 10% cash equity, securing at least a 40% commercial loan, and ensuring at least 51% ownership by a First Nation band or member. Application is open to First Nations individuals, communities, or groups in Manitoba with business headquarters located within the province. The grant supports various business activities, except those deemed non-viable or harmful to other enterprises.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward viable and ethical business opportunities.
- Bars and establishments primarily focused on alcohol sales.
- Businesses involved in gambling such as those with video lottery terminals (VLTs).
- Sexually exploitive businesses.
- Pawn shops and payday loan businesses.
- Tobacco shops.
- Passive investment businesses, such as real estate or apartment blocks, where the owner is not actively managing the business.
- Businesses that have the potential to significantly harm existing businesses, like opening a second laundromat in a small town that cannot support two.
grant_eligibility_criteria|eligible_expenses
This grant provides non-repayable contributions to support various business initiatives for First Nations businesses in Manitoba. Eligible projects include start-up endeavors, expansions, and acquisitions that demonstrate viability and economic potential.
- Start-up of a new business venture.
- Expansion of an existing business operation.
- Acquisition of a viable business.
grant_eligibility_criteria|zone
The grant covers specific expenses to support the start-up, expansion, or acquisition of a business.
- Cost of developing an independent business plan, covered up to 75%.
- Business Valuation cost for acquisitions, covered up to 75%.
- Environmental assessments when required, covered up to 75%.
- Marketing costs, covered up to 60%.
- Business support including training and aftercare management, covered up to 75%.
grant_single_labels|criteria
The evaluation and selection criteria for the Business Contribution Fund include financial viability, ownership requirements, equity contribution, business plan quality, and business impact.
- Financial Viability: The business must demonstrate financial viability and management capacity through the submission of a comprehensive business plan.
- Ownership Requirements: The business must be at least 51% owned by a First Nation individual or Manitoba First Nation Community.
- Equity Contribution: Applicants must have a minimum of 10% cash equity to invest in the business.
- Business Plan Quality: FPEGF will consider providing a non-repayable contribution towards the development of an independent business plan, which is a key evaluation criterion.
- Business Impact: The business must show potential to contribute positively to the community and not significantly harm other businesses in the area.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Determine Eligibility
- Ensure your business meets the ownership and location requirements.
- Verify that you have a minimum of 10% cash equity and 40% commercial loan commitment.
- Check that your business aligns with the non-supported business sectors criteria.
- Step 2: Prepare Required Documentation
- Develop a comprehensive business plan demonstrating viability and management capacity.
- Obtain three years of historical financial statements and a business valuation if applying for an acquisition.
- Prepare documentation for funding contributions towards business support (training, marketing, etc.), if applicable.
- Step 3: Contact Fund Provider
- Reach out to the fund provider via the toll-free number or email provided for any clarifications.
- Request guidance on additional requirements specific to your application.
- Step 4: Submit Application
- Compile all required documents and complete the application form.
- Submit your application through the specified contact methods (email or mail).
- Ensure all sections are completed and documents are included to avoid delays.
- Step 5: Await Confirmation
- Receive confirmation of receipt from the funding body.
- Retain all confirmation communications for your records.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The fund is supported by Indigenous Services Canada through the National Aboriginal Capital Corporation Association.
- The contribution becomes repayable if the business does not operate as proposed during the control period.
- There is a control period of generally three years during which financial statements and a Business Performance Review must be submitted.
grant_single_labels|contact
info@fpegf.ca
1-888-942-6026
Apply to this program
Empowering First Nations Entrepreneurs in Manitoba
The Business Contribution Fund provides crucial financial support to First Nations businesses across Manitoba, facilitating their start-up, expansion, or acquisition. This non-repayable program aims to boost economic activity and self-sufficiency within First Nations communities by covering substantial portions of eligible business costs.
In-Depth Insights into the Business Contribution Fund
The Business Contribution Fund, generously backed by Indigenous Services Canada and partnered with the National Aboriginal Capital Corporation Association, is a pivotal resource for First Nations entrepreneurs and groups in Manitoba. Designed to enhance economic opportunities and community development, this fund specifically targets First Nations-owned businesses, whether run by individuals or groups. It offers a non-repayable financial contribution towards operational growth, fostering an environment where entrepreneurship can thrive sustainably.
Awarding up to 40% of eligible business costs, the Fund caps its support at $99,999 for businesses owned by First Nation individuals, and $250,000 for those owned by Manitoba First Nations or groups thereof. This substantial financial backing underscores the necessity of economic empowerment and self-sustenance for First Nations communities, making it easier for them to embark on entrepreneurial ventures, thus contributing significantly to the economic landscape in Manitoba.
Strategically structured, the Fund mandates a minimum of 10% cash equity from applicants, alongside at least 40% commercial loan financing. This ensures that the business venture not only has the necessary financial backing but also a vested interest in its success from the owners and financial stakeholders involved. Moreover, the business must demonstrate 51% ownership by First Nations members or groups, ensuring that the primary beneficiaries are the intended community members. A comprehensive business plan that effectively showcases the venture's viability and management capacity is crucial to the application process, demonstrating the applicant's preparedness and foresight in executing the business strategy.
In a bid to address the full spectrum of business development needs, the Fund extends its support beyond mere capital. Recognizing the critical role of planning, environmental responsibility, marketing, and educational support, the program offers contributions of up to 75% towards the development of independent business plans, environmental assessments, and business training, as well as 60% towards marketing initiatives. This holistic approach ensures that businesses supported by the Fund are not only financially viable but are also sustainable and well-positioned to thrive in a competitive market.
However, the Fund imposes certain restrictions to safeguard community interests and ensure ethical business practices. Contributions are not available for ventures such as bars, gambling establishments, pawn shops, or other enterprises deemed potentially damaging to community fabric or interests. Passive investments, such as real estate or businesses managed by other parties, and businesses that could potentially disrupt the market adversely are also excluded, aligning with the Fund’s objective to promote responsible and community-focused entrepreneurship.
During the program's three-year control period, funded businesses are required to submit regular financial statements and undergo "Business Performance Reviews" to ensure that they remain operational and adhere to the agreed upon business structure. Significant changes in business operations, such as asset sales or partnership modifications, could necessitate repayment of the contribution, emphasizing the program's commitment to accountability and sustained business success.
The Business Contribution Fund stands as a beacon of opportunity for First Nations in Manitoba, equipping entrepreneurs with the tools needed to transform their business ideas into reality. By fostering environments where First Nations businesses can grow and succeed, the Fund not only bolsters individual prosperity but also amplifies the economic potential of entire communities, contributing to a richer and more diverse economic tapestry within the province.
