First Peoples Economic Growth Fund – Community Economic Expansion Program
- Open continuously
Overview
Get a repayable, interest-free loan up to $300,000 or 50% of the cost to start a new business, purchase an existing business, or upgrade your existing business. The intent is to provide for the creation of wealth and jobs for First Nations.
At a glance
Funding available
- Increase social or community impact
- Complete an acquisition or business transfer
- Renovate or expand facilities
- Maximum amount : 300,000 $
- Up to 50% of project cost
- Open continuously
Eligible candidates
- Agriculture, forestry, fishing and hunting
- Construction
- Manufacturing
- Retail trade
- Transportation and warehousing
- Accommodation and food services
- Manitoba
- For-profit business
- All revenue ranges
- All organization sizes
- Indigenous Peoples
Next Steps
Activities funded
This program provides financial support for Manitoba First Nation community-owned businesses to foster economic growth and job creation. Eligible activities include business startups, expansions, or acquisitions.
- Starting a new First Nation community-owned business.
- Purchasing an existing business by a Manitoba First Nation community.
- Upgrading or expanding an existing First Nation owned business in Manitoba.
Eligibility
Who is eligible?
Manitoba First Nation community-owned small and medium-sized businesses are eligible to apply. These businesses must be at least 51% owned and controlled by Manitoba First Nations, operate primarily in Manitoba, and demonstrate a profit objective with viability through a sound business plan.
Who is not eligible
This grant program is specifically designed to support Manitoba First Nation community-owned businesses. As such, certain types of companies or industries may not be eligible for this grant.
Eligible expenses
The grant provides loan proceeds that can be utilized for specific business activities and enhancements.
- Starting a new business.
- Purchasing an existing business.
- Upgrading or expanding an existing business.
Eligible geographic areas
This grant is specifically available to businesses located in Manitoba, as it focuses on supporting Manitoba First Nation community-owned enterprises. The targeted region ensures that the economic benefits and job creation opportunities directly impact these local communities.
- Manitoba, Canada
Additional information
Here are additional relevant details for this grant:
- The maximum loan amount is $300,000 or 50% of the fair market value of the total project costs, whichever is less.
- At the end of the loan, a portion of the loan (up to $75,000 or 25% of the total loan) may be forgiven under certain conditions.
- Loans are interest-free with a repayment schedule not exceeding 10 years for most projects (20 years for buildings).
- Business assets used as loan security will be subordinated to other debt financing supporting the business.
- Loans are strictly for new initiatives, as they cannot be used for refinancing existing debt.