How much funding can be received?

Funds up to 50% of admissible expenses, capped at $200000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the First Peoples Economic Growth Fund — Entrepreneur Loan Program?

First Peoples Economic Growth Fund — Entrepreneur Loan Program is funded by First Peoples Economic Growth Fund Inc. (FPEGF)

First Peoples Economic Growth Fund — Entrepreneur Loan Program

Q: What are First Peoples Economic Growth Fund — Entrepreneur Loan Program's eligibility criterias?

The business must register its name with the Companies Office. The loan proceeds must be used as applied for, such as starting, expanding, or acquiring a business, and not for refinancing or paying existing debt.

grant_single|update January 24, 2025

MN, Canada

Loans for Manitoba First Nations entrepreneurs

grant_single_labels|summary

grant_single_labels|preview

grant_single_labels|terms_and_conditions

grant_single_labels|projects

grant_single_labels|admissibility

grant_single_labels|criteria

grant_single_labels|apply

grant_single_labels|otherInfo

grant_single_labels|summary

grant_single|eligibleFinancing

grant_single|maxCount
grant_single|projectCostPercent

grant_single|deadlines

grant_single|timelineUnspecified

grant_single|financingType

Loans and Capital investments

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 repayable loan that is the lesser of $200,000 or 50% of the fair market value of the total costs of your business project, including starting a new business and purchasing, upgrading or expanding an existing business.

grant_single_labels|terms_and_conditions

The Entrepreneur Loan Program offers strategic financing structures to support Manitoba First Nation entrepreneurs, enhancing their access to leverage financing from other institutions.

Subordinated, interest-free loans provided to fund capital and/or working capital for eligible projects.
Loans available up to $200,000 or 50% of the fair market value of the total project costs, whichever is lower.
Repayment terms up to 10 years for most projects, with an extended term up to 20 years for buildings.
Supplementary loans available contingent upon submission of satisfactory financial statements.
Loan proceeds are to be used strictly for the purposes outlined in the application (not for refinancing or existing debt).
The proceeds are registered as security or collateral for the loan.

grant_single_labels|projects

The Entrepreneur Loan Program focuses on supporting First Nations entrepreneurs in Manitoba by providing financial assistance for specific business-related activities. The eligible activities revolve around establishing, expanding, or acquiring businesses.

Starting a new business that aligns with market demands and sustainability.
Expanding an existing business to enhance operations and market reach.
Acquiring a current business for growth and diversification opportunities.

grant_single|admissibleProjectsExample

$ 90,000

Upgrading a transportation business

$ 20,000

Starting a new IT consulting firm

$ 40,000

Starting a new Indigenous-owned organic farm

$ 30,000

Expanding a community-owned coffee shop

$ 100,000

Purchasing an outdoor adventure company

$ 65,000

Purchasing an existing bakery

grant_single_labels|admissibility

Eligibility for this loan program is based on specific criteria related to the applicant's background and the proposed business project.

Applicants must be members of a Manitoba First Nation, regardless of residence on or off reserve in Manitoba.
Applicants must be aged 18 and over, and eligible to work in Canada.
A sound business plan demonstrating the viability of the business must be provided.
Applicants must contribute equity equal to a minimum of 5% of the total project costs. In cases of higher risk, larger equity contributions may be required.
All applicants will undergo a credit score review, though approval is not solely based on credit score. Unresolved collection issues must be resolved before proceeding with the application.

grant_eligibility_criteria|who_can_apply

This program is intended to assist Manitoba First Nation entrepreneurs by providing financial support through subordinated interest-free loans. Applicants must be members of a Manitoba First Nation, aged 18 or over, and eligible to work in Canada. They must also present a viable business plan and contribute at least 5% equity of the total project costs, which can be in cash or unencumbered business assets.

grant_eligibility_criteria|who_cannot_apply

There are specific considerations when applying for this grant, though detailed restrictions on company types or industries are not fully specified. However, businesses must meet certain operational and ownership conditions to qualify.

Must primarily operate in Manitoba.
Businesses must be at least 51% owned and controlled by a member of a Manitoba First Nation.
Projects must have a profit objective; not-for-profit projects are not considered.
The business should be reputable and appropriate in nature.
New businesses, business purchases, or expansions only; refinancing is not eligible.

grant_eligibility_criteria|eligible_expenses

This grant is designed to support Manitoba First Nation entrepreneurs in establishing or expanding their businesses. The eligible projects focus on new business startups, expansion of existing businesses, and business acquisitions.

Starting a new business venture.
Expanding an existing business operation.
Acquiring an existing business as part of business growth strategies.

grant_eligibility_criteria|zone

The Entrepreneur Loan Program exclusively targets First Nation entrepreneurs in Manitoba. Eligible businesses must be located within this province to apply.

Businesses operated by members of a Manitoba First Nation, living on or off reserve in Manitoba.

grant_single_labels|criteria

There are evaluation and selection criteria for this grant. The criteria include assessing the viability of the business plan, the applicant's equity contribution, ownership by a member of a Manitoba First Nation, and the primary operation in Manitoba.

Viability of the business plan
Applicant's equity contribution
Ownership by a member of a Manitoba First Nation
Primary operation in Manitoba

grant_single_labels|apply

Here are the steps to submit an application for this grant:

Step 1: Prepare Business Plan
- Develop a comprehensive business plan that demonstrates the viability of your business.
- Ensure that the plan aligns with the project costs and financing requirements.
Step 2: Verify Eligibility
- Confirm membership in a Manitoba First Nation and eligibility criteria (e.g., age and work eligibility in Canada).
- Determine your ability to contribute the required equity (cash or assets).
Step 3: Register Business Name
- Register your business name with the Companies Office, if not already done.
Step 4: Compile Financial Statements
- Prepare and compile any requested financial statements (quality, internally prepared, auditor reviewed, etc.).
Step 5: Application Submission
- Complete any additional forms and gather necessary documentation as required by the loan program.
- Submit all materials directly to the First Peoples Economic Growth Fund (FPEGF) as per their instructions.
Step 6: Address Credit and Collection Issues
- Resolve any outstanding collection issues prior to application processing.
Step 7: Obtain Confirmation
- After submission, ensure you receive a confirmation of receipt from FPEGF.
- Keep a record of your application details for future reference.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

Loan proceeds are required to be used strictly for the purpose they were applied for, such as starting, expanding, or acquiring a business.
Loan proceeds cannot be used for refinancing or to pay off existing debt.
The business funded through this program will be registered as security or collateral for the loan.
Applicants are subject to a credit score review, but low credit scores are not disqualifiers, though unresolved collection issues must be addressed before the application can proceed.
The applicant’s equity contribution to the project can be in cash or unencumbered business assets with appropriate documentation supporting the value.
Supplementary loans may be available based on satisfactory financial statements provided to the fund.
The program includes a flexible approach to accepting various types of financial statements depending on the complexity of the business.