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
- grant_single|allIndustries
grant_single|grantors
- First Peoples Economic Growth Fund Inc. (FPEGF)
grant_single|status
grant_card_status|open
grant_single_labels|preview
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
- Start-up, expansion, or acquisition of a viable business.
- Development of an independent business plan.
- Environmental assessments when required.
- Marketing costs.
- Business support (training, aftercare management).
grant_single|admissibleProjectsExample
$21,000
Winnipeg
Opening a sustainable café focusing on local produce and zero-waste
$13,500
Thompson
Launching a First Nation artisan crafts store
$24,000
Churchill
Starting a fish-farming business with eco-friendly practices
$29,700
The Pas
Acquiring an existing eco-lodge and transitioning it to renewable energy
$28,200
Brandon
Expanding a software development company specializing in education technology
$21,000
Thompson
Expanding a First Nation-owned eco-tourism business
grant_single_labels|admissibility
The eligibility criteria for this grant include:
- Minimum of 10% cash equity to put into the business
- Minimum of a 40% commercial loan required as part of total financing
- Business must be at least 51% owned by a First Nation individual or Manitoba First Nation community
- Business must show viability and management capacity through a business plan submission
- Non-repayable contribution cannot support certain types of businesses such as bars, gambling, or pawn shops
grant_eligibility_criteria|who_can_apply
There are eligible types of companies for the Business Contribution Fund grant offered by the First Peoples Economic Growth Fund. Eligible companies include those owned by a First Nation individual or Manitoba First Nation community, involved in start-ups, expansions, or acquisitions, with a focus on business viability and management capacity.
- Business owned by a First Nation individual
- Business owned by a Manitoba First Nation or group of Manitoba First Nations
- Start-ups, expansions, or acquisitions
- Businesses showing viability and management capacity
- Businesses with a minimum of 10% cash equity and at least 40% commercial loan
grant_eligibility_criteria|who_cannot_apply
There are certain types of companies that are not eligible for this grant:
- Bars
- Gambling establishments (VLTs)
- Sexually exploitive businesses
- Pawn shops
- Payday loan businesses
- Tobacco shops
- Passive investments (real estate, apartment blocks)
- Businesses managed by someone else
- Assets for personal use (e.g., cars, residential houses)
- Businesses that would significantly harm another business (e.g., redundancy in a small town)
grant_eligibility_criteria|eligible_expenses
Eligible expenses for the Business Contribution Fund include:
- Start-up, expansion, or acquisition costs of a viable business
- Development of an independent business plan
- Environmental assessments when required
- Marketing costs
- Business support (training, aftercare management)
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
- Step 1: Meet the eligibility criteria
- Review the program guidelines and ensure your business meets the requirements.
- Step 2: Prepare necessary documentation
- Gather three years of historical financial statements if applying for an acquisition.
- Obtain an independent Business Valuation by a Certified Business Valuator if acquiring a business.
- Create a comprehensive business plan demonstrating viability and management capacity.
- Step 3: Secure financing
- Ensure you have a minimum of 10% cash equity for the business.
- Secure a minimum of 40% commercial loan as part of the total financing.
- Step 4: Submit application
- Complete and submit the Business Contribution Fund Application form.
- Include all required documentation and information as outlined in the application.
- Step 5: Follow-up and review
- Respond to any additional requests or inquiries from the funding organization.
- Stay informed about the progress of your application and any updates.
grant_single_labels|contact
info@firstpeoplesfund.ca
1-888-942-6026
Apply to this program
Business Contribution Fund Overview:
First Peoples Economic Growth Fund (FPEGF) offers the Business Contribution Fund, providing non-repayable financial support for eligible First Nation businesses in Manitoba. The fund assists with up to 40% or 30% of eligible costs, depending on the ownership structure, towards start-up, expansion, or acquisition efforts.
Exploring the Non-Repayable Business Contribution Fund by FPEGF:
First Peoples Economic Growth Fund (FPEGF) has introduced the Business Contribution Fund (BCF) to foster economic development for First Nation businesses in Manitoba. This non-repayable financing initiative aims to provide crucial support for entrepreneurs looking to start, expand, or acquire viable businesses in the region. The BCF guidelines outline maximum contribution percentages based on ownership structures, with support ranging from up to 40% for individual business owners to up to 30% for Manitoba First Nations or groups of First Nations owning a business. This financial aid can be instrumental in covering eligible costs, empowering indigenous entrepreneurs to realize their business aspirations.
Eligibility criteria specify that a minimum of 10% cash equity is required from the entrepreneur, along with a commercial loan comprising at least 40% of the total business financing. Moreover, the business must demonstrate its viability and management capacity through a comprehensive business plan submission, ensuring a solid foundation for success. The Fund also extends its support to cover other essential aspects like independent business plan development, environmental assessments, marketing costs, and business support services.
While the BCF aims to nurture various business ventures, certain sectors such as bars, gambling establishments, and payday loan providers are excluded from receiving non-repayable contributions. Additionally, passive investments like real estate and businesses under remote management are ineligible for funding. The Fund prioritizes investments that directly benefit the economic growth and sustainability of the First Nation communities.
Owners of businesses that receive contributions are subject to a control period of approximately three years, during which regular business performance reviews and financial statement submissions are required. Any significant changes to the business during this period may lead to the reclassification of the non-repayable contribution as repayable, sparking collection efforts. By implementing these measures, the BCF ensures accountability and monitors the progress and stability of supported enterprises.
The Business Contribution Fund also reflects FPEGF's commitment to supporting indigenous economic development, with generous backing from Aboriginal Affairs and Northern Development Canada. Through this initiative, First Peoples Economic Growth Fund is playing a vital role in empowering First Nation entrepreneurs, fostering economic growth, and driving sustainable business practices in Manitoba.
For additional information on the Business Contribution Fund, interested parties can reach out to FPEGF via phone at 1-888-942-6026 or 204-942-6026 in Winnipeg, or through email at info@firstpeoplesfund.ca. The Fund's dedication to nurturing thriving indigenous businesses underscores its mission to create lasting economic impact and opportunities for Manitoba's First Nation communities.
