How much funding can be received?

Funds up to 10% of admissible expenses, capped at $99999 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the LRCC — Business Grant & Loan Program?

LRCC — Business Grant & Loan Program is funded by Louis Riel Capital Corporation (LRCC)

LRCC — Business Grant & Loan Program

MN, Canada

Money for Metis-owned small businesses in Manitoba

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grant_single_labels|criteria

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grant_single|eligibleFinancing

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grant_single|financingType

Grant and Funding

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Louis Riel Capital Corporation (LRCC)

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Get access to loans up to $250,000 to assist with a start-up, acquisition, or for expansion purposes. Certain project costs could be eligible for grant funding as part of the financing package.

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Projects or activities eligible for this grant include:

Start-up, acquisition, or expansion of a Métis-owned small business in Manitoba
Sound projects with reasonable risk factors supported by a business plan

grant_single|admissibleProjectsExample

$50,000

Winnipeg

Opening a new Métis-owned bakery

$60,000

Ottawa

Starting a Métis-owned organic farm near Ottawa

$25,000

Calgary

Expanding a Métis-owned IT consulting firm

$40,000

Toronto

Launching a Métis-owned graphic design studio

$99,999

Vancouver

Acquiring a Métis-owned eco-tourism business

$99,999

Edmonton

Expanding a Métis-owned renewable energy company

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The eligibility criteria for this grant are as follows:

Businesses must be registered in Manitoba.
Ownership must be at least 51% Métis owned with valid MMF Citizenship Card(s). These Métis owner(s) must also reside in Manitoba.
At least one principal Métis-owner must actively involved in the business on a day-to-day basis and have the specific skills, training, and knowledge to carry out the business.
Projects must generally be above $25,000.00 unless the applicant is an existing business looking to expand.

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There are eligible types of companies for this grant. Métis-owned small businesses in Manitoba that require financing for start-up, acquisition, and expansion projects are eligible.

Small businesses with at least 51% Métis ownership and owners residing in Manitoba
Businesses registered in Manitoba
Projects involving capital costs, equipment, machinery, operating costs, marketing costs, and business support costs

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There are certain types of companies that are not eligible for this grant:

Bars (alcohol provider)
Gambling establishments (VLTs)
Businesses of a sexually exploitive nature
Pawnshops
Payday loan providers
Tobacco retailers or manufacturers
Passive investments like real estate or managed businesses

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Eligible expenses for this grant include capital costs, operating costs (start-up only), marketing costs, and business support costs.

Capital costs
Equipment, Machinery, Leasehold Improvements, Commercial Vehicles, Supplies
Operating Costs (start-up only)
Rent, Utilities & Insurance for the first 3 months of operations
Marketing Costs
Website, Advertising, Signage, Decaling
Business Support Costs
Legal, Accounting/Book-keeping during start-up

grant_eligibility_criteria|zone

Businesses such as bars (alcohol provider), gambling (VLTs), sexually exploitive in nature, pawnshops, payday loans, tobacco retailer or manufacturer, etc. are not allowed.

Bars (alcohol provider)
Gambling (VLTs)
Sexually exploitive businesses
Pawnshops
Payday loan providers
Tobacco retailers or manufacturers

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There are evaluation and selection criteria for this grant. The grant is evaluated based on financial viability, business plan soundness, and the active involvement of Métis owners in the business.

Financial viability of the project
Soundness of the business plan
At least one principal Métis-owner actively involved in the business

grant_single_labels|register

Step 1: Prepare all necessary documentation for the application process.
Step 2: Submit the Business Grant & Loan application along with the required Personal Statement of Affairs.
Step 3: Allow up to 6-8 weeks for processing the application once all documentation is received.
Step 4: Contact the LRCC Credit team for more details and clarification on the Business Grant & Loan program.

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info@lrcc.mb.ca

204-589-0772

Apply to this program

Business Grant & Loan Program Overview

Introduction to the Louis Riel Capital Corporation Business Grant & Loan Program

The Louis Riel Capital Corporation (LRCC) offers a Business Grant & Loan Program aimed at supporting the start-up, acquisition, and expansion of Métis-owned small businesses in Manitoba. This program provides financial assistance in the form of grants and commercial loans to eligible applicants who meet specific criteria and demonstrate a viable business plan.

Eligibility and Funding Criteria

To qualify for the grant and loan program, businesses must be registered in Manitoba and have at least 51% ownership by Métis individuals with valid MMF Citizenship Cards residing in Manitoba. The owners are required to make a cash investment of at least 10% of the total project costs, with maximum grant funding of $99,999 and commercial loan funding up to $250,000. Projects must generally exceed $25,000, and certain businesses such as bars, gambling establishments, and passive investments are not eligible for funding.

Grant Calculation and Application Process

The grant portion of the financing is calculated based on project costs and eligible expenses such as capital costs, operating costs, marketing costs, and business support costs. Applicants must complete the Business Grant & Loan Application, Personal Statement of Affairs, Business Plan Checklist, and provide necessary documentation for the application process, which may take 6-8 weeks for processing. LRCC recommends contacting their Credit team for detailed information on the program and assistance with the application.

Bridge Financing and Additional Services

LRCC also offers bridge financing to existing Métis-owned businesses as short-term loans to bridge external financing commitments. Bridge Financing does not qualify for a grant contribution and follows specific eligibility criteria similar to the grant and loan program. Additional services provided by LRCC include business plans, advisory services, the First Time Home Purchase Program, Métis Women Entrepreneurship Program, Red River Métis Personal Loan Program, and various workshops and networking events to support Métis entrepreneurs.

Conclusion

The Louis Riel Capital Corporation's Business Grant & Loan Program serves as a crucial resource for Métis-owned businesses in Manitoba seeking financial support for their growth and sustainability. By adhering to the program's eligibility criteria, financial guidelines, and application process, eligible applicants can access grant funding and commercial loans to realize their entrepreneurial aspirations and contribute to the economic development of the Métis community.