LRCC — Business Grant & Loan Program
MN, Canada
Money for Metis-owned small businesses in Manitoba
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Louis Riel Capital Corporation (LRCC)
grant_single|status
grant_card_status|open
grant_single_labels|preview
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.
grant_single_labels|terms_and_conditions
The LRCC Business Grant & Loan Program provides a comprehensive approach to financing, combining grants and loans to support Métis-owned business ventures in Manitoba. Key financing modalities under this program ensure that funds are used effectively to foster business growth and sustainability.
- A maximum of $99,999.00 in grant funding for eligible projects.
- Commercial loan funding up to $250,000.00, with exceptions for higher amounts possible.
- Bridge financing as a short-term solution for businesses awaiting other external funding disbursements, although not eligible for grants.
- Grant contributions calculated based on eligible project costs, covering capital, start-up operating, marketing, and certain business support costs.
grant_single_labels|projects
The Business Grant & Loan Program by the Louis Riel Capital Corporation supports Métis-owned businesses in Manitoba in areas critical for start-ups and expansion. It targets specific project costs associated with capital and operations during initial phases of business establishment.
- Purchase of equipment, machinery, and commercial vehicles necessary for business operations.
- Leasehold improvements and supplies to set up or expand business premises.
- Initial operating costs including rent, utilities, and insurance for the first three months of business operations.
- Marketing activities such as creating a website, advertising, signage, and decaling to enhance business visibility and reach.
- Business support services including legal advice, accounting, and bookkeeping during the start-up phase.
grant_single|admissibleProjectsExample
$ 50,000
Opening a new Métis-owned bakery
$ 60,000
Starting a Métis-owned organic farm near Ottawa
$ 25,000
Expanding a Métis-owned IT consulting firm
$ 40,000
Launching a Métis-owned graphic design studio
$ 99,999
Acquiring a Métis-owned eco-tourism business
$ 99,999
Expanding a Métis-owned renewable energy company
grant_single_labels|admissibility
Eligibility for this grant requires meeting several specific criteria related to the ownership and management of the business in Manitoba.
- The business must be registered in Manitoba.
- It must be at least 51% Métis owned by individuals with valid MMF Citizenship Cards.
- These Métis owners must reside in Manitoba.
- At least one principal Métis-owner must actively be involved in the business on a day-to-day basis, possessing the necessary skills, training, and knowledge to operate the business.
- Owners must be able to make a cash investment of at least 10% of the total project costs.
grant_eligibility_criteria|who_can_apply
The Louis Riel Capital Corporation Business Grant & Loan Program is open to small businesses in Manitoba that are at least 51% Métis-owned and have valid MMF Citizenship Cards. These Métis owner(s) must also reside in Manitoba. The business must be registered in Manitoba, and at least one principal Métis owner must be actively involved in the business on a day-to-day basis with the necessary skills, training, and knowledge to operate the business.Furthermore, the owners must be able to make a cash investment of at least 10% of the total project costs from non-borrowed funds. For instance, a project costing $100,000.00 would require the owners to invest $10,000.00 in cash. Projects generally need to exceed $25,000.00 unless it is for an existing business looking to expand.Ineligible businesses include bars, gambling operations, sexually exploitive businesses, pawnshops, payday loans, tobacco-related businesses, and passive investments like real estate or businesses managed by another party.Eligible costs for the grant portion include certain start-up and operating expenses, marketing costs, business support costs, and in specific contexts, certain capital costs like equipment or machinery. Bridge financing is also available but does not qualify for grant contributions.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain businesses and activities to align with its support for responsible and sustainable business practices in Manitoba. The outlined exclusions represent industries or costs deemed ineligible for funding.
- Businesses such as bars or alcohol providers.
- Businesses involved in gambling activities, such as those with VLTs.
- Enterprises that are sexually exploitive in nature.
- Pawnshops and payday loan businesses.
- Tobacco retailers or manufacturers.
- Passive investments like real estate or any business managed by someone else for the owner.
- Costs related to assets perceived for personal use, such as cars or pickup trucks, are not eligible for grant funding (but may be eligible for loan financing).
grant_eligibility_criteria|eligible_expenses
The Business Grant & Loan Program provides funding support for the start-up, acquisition, or expansion of Métis-owned businesses in Manitoba, with a focus on key operational and capital investments. Grants contribute to eligible costs related to various business needs.
- Capital investments including equipment, machinery, leasehold improvements, and commercial vehicles.
- Initial operating costs such as rent, utilities, and insurance for the first three months of operations for start-ups.
- Marketing expenses including website development, advertising, signage, and decaling.
- Business support services, including legal and accounting/book-keeping during the start-up phase.
grant_eligibility_criteria|zone
This grant is available to Métis-owned companies registered and operating within a specific Canadian province. Eligible geographical areas are designed to support regional business development for the Métis community.
- Businesses registered and operating in Manitoba, Canada.
grant_single_labels|criteria
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: Contact LRCC
- Contact LRCC to speak to their Credit team for more details on the Business Grant & Loan Program.
- Email: info@lrcc.mb.ca or call: 204-589-0772.
- Step 2: Gather Required Documentation
- Prepare a detailed Business Plan.
- Complete the Personal Statement of Affairs for each owner.
- Ensure you have your Business Grant & Loan Info Sheet ready.
- Review the Business Plan Checklist as provided by LRCC.
- Step 3: Ensure Eligibility
- Verify that your business is 51% or more Metis owned with valid MMF Citizenship Card(s).
- Check that the business is registered in Manitoba and the owners can make a 10% cash investment.
- Confirm that the business meets all other eligibility criteria as specified by LRCC.
- Step 4: Application Submission
- Fill out the Business Grant & Loan Application Form.
- Submit all gathered documentation along with the application to LRCC.
- Ensure to submit any additional specific documents or forms as requested by LRCC during the process.
- Step 5: Wait for Processing
- Allow 6-8 weeks for the processing of your application post submission.
- Ensure timely responses to any requests for further information from LRCC to prevent delays.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- LRCC may provide bridge financing to existing Métis-owned businesses to assist with short-term cash flow until other financing is disbursed.
- The grant application processing can take 6 to 8 weeks once all required documentation is submitted; delays can occur if documentation is incomplete.
- Asset costs perceived for personal use, like a car or pick-up truck, are ineligible for grant funding but may be eligible for loan financing.
- Applicants are advised to contact LRCC staff before incurring any project costs to ensure eligibility for funding.
grant_single_labels|contact
info@lrcc.mb.ca
204-589-0772
Apply to this program
Empowering Métis Entrepreneurs in Manitoba
The Louis Riel Capital Corporation's Business Grant & Loan Program offers vital financial assistance to Métis-owned small businesses in Manitoba, aiding their start-up, acquisition, or expansion endeavors. This program bridges the financial gap for Métis entrepreneurs seeking to bolster their business operations with substantial grants and loans.
Detailed Insights into the LRCC Business Grant & Loan Program
The Louis Riel Capital Corporation (LRCC) provides a transformative opportunity for Métis entrepreneurs in Manitoba to access the financial resources necessary to establish, acquire, or expand their small businesses. This program is a pivotal step for Métis business owners who seek to integrate into the competitive commercial landscape of Manitoba, fostering economic growth and community development.
To participate in this program, businesses are required to meet specific eligibility criteria, ensuring that the ownership and stake control remains predominantly within the Métis community. Métis entrepreneurs can obtain up to $99,999 in grant funding alongside a maximum of $250,000 in commercial loan funding to support various business-related costs. This financial package offers exceptional support for projects that require substantial capital investment to thrive, whereas bridge financing is available for existing businesses waiting on pending disbursements from external sources.
The grant component can cover essential start-up costs, including equipment, machinery, and commercial vehicles, along with initial operating costs such as rent, utilities, and insurance. This comprehensive coverage allows businesses to focus on strategic growth areas without worrying about initial cash flow strains. Further, marketing and business support costs are eligible for grant contributions, ensuring that businesses can maintain a competitive presence and operate efficiently from inception.
LRCC emphasizes prudent and sound business practices to protect its capital base, ensuring the program continuously supports new businesses by setting a high eligibility threshold for applicants. Applicants need to demonstrate financial readiness, including a minimum of 10% cash investment from their own resources towards total project costs, highlighting their commitment and reducing the risk for both parties involved.
Projects proposed under this program undergo thorough evaluation to determine their viability and potential impact on community and economic development. This ensures that only projects poised for success and sustainability receive funding, aligning with LRCC's strategic goals of fostering a robust Métis business ecosystem.
Additionally, the LRCC provides an advisory approach, assisting entrepreneurs in developing viable business plans, which is a mandatory component of the application process. This not only supports successful grant and loan procurement but also enhances the business acumen of applicants, equipping them with the skills needed to manage and grow their enterprises effectively.
However, the program explicitly outlines ineligible business activities and costs, such as those related to passive investments or businesses within restricted sectors, maintaining a focus on active, operational businesses that contribute to Manitoba’s economic fabric. This clear delineation ensures that funds are judiciously used to maximize community benefits.
Overall, the LRCC Business Grant & Loan Program is a crucial instrument for Métis business owners, enabling economic participation and prosperity through structured financial assistance. By meeting eligibility requirements and engaging with the LRCC's resources, Métis entrepreneurs can significantly enhance their business ventures, driving economic growth and positively impacting their communities.
