How much funding can be received?

Funds up to 50% of admissible expenses, capped at $1000000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

First Peoples Economic Growth Fund – Joint Venture Program

MN, Canada

Financing for Manitoba First Nations projects

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Loans and Capital investments

Other Support

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First Peoples Economic Growth Fund Inc. (FPEGF)

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Is your business planning to undertake a large-scale project that costs more than $500,000? Get financing of at least $200,000 up to $1 million, in a variety of financing options.

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$400,000

Vancouver

Building a new recycling facility in Vancouver to promote sustainable waste management.

$300,000

Montreal

Opening a new organic coffee roastery and café in Montreal offering locally sourced products.

$700,000

Toronto

Establishing a tech hub in Toronto to support local startups and innovation.

$400,000

Ottawa

Launching an innovative mobile health clinic in Ottawa to serve underserved communities.

$500,000

Calgary

Developing a green energy solution for businesses in Calgary to reduce carbon footprint.

$450,000

Halifax

Revitalizing a heritage building in Halifax into a cultural arts center.

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Have a profit objective (not-for-profit projects will not be considered).
Demonstrate viability through a sound business plan.
Primarily operate in Manitoba.
Be reputable and appropriate in nature.
Be at least 51% owned and controlled by Manitoba First Nations.

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First Nations enterprises with a profit objective, primarily operating in Manitoba, and at least 51% owned and controlled by Manitoba First Nations are eligible for this grant.

Businesses with a profit objective
Primarily operating in Manitoba
At least 51% owned and controlled by Manitoba First Nations

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Some types of companies are not eligible for this grant:

Not-for-profit projects
Companies not primarily operating in Manitoba

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Eligible expenses for this grant may include project costs, startup costs, working capital, and value-added project expenses.

Project Costs
Startup Costs
Working Capital
Value-added Project Expenses

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There are evaluation and selection criteria for this grant:

Businesses must have a profit objective and demonstrate viability through a sound business plan.
Projects must primarily operate in Manitoba, be reputable, appropriate in nature, and at least 51% owned and controlled by Manitoba First Nations.

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Step 1: Prepare a sound business plan
Step 2: Ensure the business is at least 51% owned and controlled by Manitoba First Nations
Step 3: Determine total project costs exceeding $500,000
Step 4: Choose a suitable form of financing option
Step 5: Complete and submit the Joint Venture Financing Application

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Applicants should be aware that the project must be for-profit and have total project costs exceeding $500,000.
Prioritization may be given to higher-end value-added projects.

Apply to this program

First Peoples Economic Growth Fund Inc. Joint Venture Program

Overview of the Joint Venture Program

The First Peoples Economic Growth Fund Inc. offers the Joint Venture Program to support large-scale First Nations enterprises with promising business concepts. This program provides financing options including common shares, preferred shares, term loans, and more, with funding available up to $1,000,000 or 50% of the project costs, prioritizing higher-end value-added projects.

Loan Terms and Conditions

Under this program, businesses can receive a minimum of $200,000 in financing for projects exceeding $500,000 in total project costs. Eligible businesses must be for-profit, primarily operating in Manitoba, and at least 51% owned and controlled by Manitoba First Nations. The projects funded should be commercially viable and demonstrate profitability through a solid business plan.

Eligibility Criteria

To qualify for funding, businesses must have a profit objective, exhibit operational viability, and maintain a majority ownership by Manitoba First Nations. The projects should be reputable, primarily based in Manitoba, and deemed suitable for funding consideration. Not-for-profit ventures are not eligible under this program.

Forms of Financing Options

The Joint Venture Program offers various forms of financing such as common shares, preferred shares, convertible debentures, mortgages, and more. Funding can also involve units in limited partnerships or joint ventures, based on negotiated terms outlined in the partnership agreement. This diversity of financial instruments allows for flexible funding structures tailored to the needs of different enterprises.

Application Process and Approval Criteria

Interested businesses can apply for Joint Venture Financing by submitting a comprehensive application that includes details about the project, financing requirements, and business plans. The approval criteria focus on the commercial viability of the project, the reputation and ownership structure of the enterprise, and the overall economic benefit to Manitoba First Nations communities.

Conclusion

The First Peoples Economic Growth Fund Inc. Joint Venture Program serves as a valuable resource for large-scale First Nations enterprises seeking financial support for profitable and sustainable projects. By providing access to diverse financing options and promoting economic growth within Manitoba's Indigenous communities, this program plays a crucial role in fostering entrepreneurship and business development.