How much funding can be received?

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.

grant_single_labels|terms_and_conditions

This program provides financing specifically structured to support the growth and sustainability of Manitoba First Nation community-owned businesses. The financing modalities are designed to assist with startup, expansion, or acquisition endeavors while ensuring repayment ability and community impact.

Maximum loan amount of $300,000 or up to 50% of the fair market value of the total project costs, whichever is lower.
Interest-free loans with repayment terms of up to 10 years for general businesses and up to 20 years for buildings.
Potential loan forgiveness of up to $75,000 or 25% of the total loan (whichever is less) if conditions are met.
Repayment begins within one year from disbursement and is required in equal monthly installments over the loan term.
Project costs may require appraisal to determine eligibility for funding.
Loans must be used for starting, purchasing, or expanding businesses; refinancing existing debt is not permitted.
Business assets will be registered as security for the loan, subordinate to other debt financing.

grant_single_labels|projects

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.

grant_single|admissibleProjectsExample

$ 300,000

Starting a tech startup focused on developing AI-driven healthcare solutions

$ 250,000

Purchasing an existing organic farm to enhance local food supply

$ 300,000

Launching an eco-friendly cafe with a focus on sustainable dining

$ 275,000

Upgrading a community theatre to offer more diverse performances

$ 300,000

Expanding a local craft brewery to increase production capacity

$ 225,000

Purchasing an existing automotive repair shop to modernize its operations

grant_single_labels|admissibility

Eligibility for the Community Economic Expansion Program is based on specific criteria related to business ownership, location, and operational objectives.

The business must be at least 51% owned and controlled by Manitoba First Nations.
The business must operate primarily in Manitoba.
Applicants must provide a sound business plan demonstrating viability.
The business must have a profit objective; not-for-profit projects are not eligible.
Businesses must be reputable and appropriate in nature.
The community is required to demonstrate its commitment through a reasonable equity injection.

grant_eligibility_criteria|who_can_apply

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.

grant_eligibility_criteria|who_cannot_apply

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.

grant_eligibility_criteria|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.

grant_eligibility_criteria|zone

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

grant_single_labels|criteria

The evaluation and selection of projects for this grant are based on specific criteria to ensure alignment with the grant’s objectives and the creation of employment and economic benefits for Manitoba First Nations.

Feasibility of the applicant’s plan, including the education and experience of the principal persons involved.
Availability of technical and financial expertise required for successful operation.
Availability of necessary services such as utilities, communication, and transportation.
Potential for growth and development of related businesses.
Effect on the province and community, including provision of goods/services and employment creation.
Applicant’s ability to secure funding, including previous financial assistance and terms.
Equity investment indicating commitment from the principals.
Management’s capability to operate the business successfully.
Earning potential and ability to repay the loan.
Social and economic impact in the community, including job creation.
Other relevant criteria as considered by the Fund’s management.

grant_single_labels|register

Step 1: Review Program Details
Familiarize yourself with the program's purpose, loan terms, eligibility criteria, and approval criteria.
Ensure your business aligns with the program’s objectives and requirements.
Step 2: Prepare Business Plan
Develop a comprehensive business plan that includes the objective of profitability, viability, and projected growth.
Include details on the business operations, management structure, and financial projections.
Step 3: Gather Required Documentation
Collect all necessary documents such as proof of First Nation ownership, financial statements, and technical expertise evidence.
Prepare any appraisals of project costs if required.
Step 4: Submit Application
Complete the application form. Ensure all information is accurate and up to date.
Submit the application form and all required documents to the address or portal specified by the First Peoples Economic Growth Fund.
Step 5: Await Confirmation
Receive confirmation of your application submission from the funding body.
Retain the confirmation details for future reference and follow-up.

grant_single_labels|otherInfo

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.