SMEDCO Loan Programs
SK, Canada
Loans for Métis-led companies in Saskatchewan
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Government of Saskatchewan
- SaskMétis Economic Development Corporation (SMEDCO)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a variety of refundable and non-refundable loans for your business startup, acquisition and or expansion project.
grant_single_labels|terms_and_conditions
The SMEDCO Loan Programs provide tailored financing solutions for Métis entrepreneurs in Saskatchewan to support the economic growth of their businesses. These financing modalities are designed to offer the best possible terms and support a range of business needs.
- Blended financing combining traditional loans with non-repayable contributions to reduce total borrowing costs.
- Low-cost borrowing options compared to standard financing solutions available in the mainstream market.
- Flexible terms to accommodate different stages of business development.
- The non-repayable contribution component is contingent upon the amount of cash equity provided by the client.
grant_single_labels|projects
This financing package is tailored specifically for Métis Entrepreneurs in Saskatchewan, supporting a range of business initiatives that contribute to economic development and sustainability. Eligible projects include new business creations, business acquisitions, and the expansion of existing operations.
- Establishment of new business start-ups.
- Acquisition of existing businesses.
- Expansion of current business operations.
grant_single|admissibleProjectsExample
$ 80,000
Opening a new eco-friendly grocery store focused on local products
$ 150,000
Startup of a mobile app development company focusing on e-commerce solutions
$ 250,000
Acquisition of a small biotechnology firm for research on sustainable agriculture
$ 250,000
Expanding a local craft brewery to increase production capacity
$ 100,000
Expansion of a current artisanal bakery to include a café
$ 220,000
Launching a new wellness center focused on mental health services
grant_single_labels|admissibility
Eligibility for this financing package is determined by specific criteria related to the ownership and location of the business, as well as the structure of the equity.
- The business must be Métis owned and controlled.
- The business must be sound, viable, and provide a reasonable income to the owners.
- The applicant must reside within Saskatchewan, and the business must be headquartered in Saskatchewan.
- The applicant must provide a minimum of 10% cash equity.
- Contributed equity may be considered on a case-by-case basis, with a 3rd party appraisal required for assets contributed to the project.
grant_eligibility_criteria|who_can_apply
The SMEDCO Blended Financing (SBF) is designed specifically for Métis entrepreneurs residing in Saskatchewan, focused on business start-ups, acquisitions, and expansions of Métis owned and controlled businesses. The applicants must provide a minimum of 10% cash equity, with the possibility of additional contributed equity being considered on a case-by-case basis. Additionally, both the applicant and the business must be located within the province of Saskatchewan. The primary objective is to offer affordable primary term debt through a mix of traditional financing and non-repayable contributions.
grant_eligibility_criteria|eligible_expenses
The SMEDCO Blended Financing package focuses on supporting Métis Entrepreneurs in Saskatchewan by offering financial support for business-related projects. The eligible activities aim at establishing new ventures and enhancing existing businesses to ensure growth and sustainability.
- Sound and viable business start-ups.
- Acquisition of existing businesses.
- Expansion of current business operations.
grant_eligibility_criteria|zone
This grant supports Métis entrepreneurs within targeted regions in Saskatchewan to foster local business development. Eligible businesses must be operating and registered within the specified provincial boundaries.
- Métis-owned businesses headquartered in Saskatchewan.
- Applicants must reside within Saskatchewan.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant.
- Métis owned and controlled.
- The project is viable and provides a reasonable income to the owners.
- Applicants must reside within Saskatchewan and the business is headquartered in Saskatchewan.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Initial Inquiry
- Reach out to SMEDCO for any questions regarding the Blended Financing package using the provided contact form.
- Ensure you meet the basic criteria for eligibility, including Métis ownership and Saskatchewan residency.
- Step 2: Prepare Documentation
- Gather necessary documents, such as proof of Métis ownership and third-party appraisal for contributed assets.
- Prepare a business plan outlining the startup, acquisition, or expansion proposal.
- Step 3: Equity Preparation
- Ensure you have the required 10% cash equity ready to invest in your project.
- Consider additional equity contributions, if applicable.
- Step 4: Submit Application
- Coordinate with SMEDCO to access and complete the application forms.
- Submit all required documents and the completed application through the specified submission process.
- Step 5: Await Confirmation
- Wait for confirmation of receipt from SMEDCO, which may include an application reference number.
grant_single_labels|otherInfo
Here are additional relevant details for this financing package:
- The financing package combines traditional financing with non-repayable contributions to lower borrowing costs.
- The level of non-repayable contribution is dependent on the cash equity provided by the applicant.
- A third-party appraisal is required for any assets contributed to the project as equity.
- SMEDCO offers tailored financing solutions based on its 36 years of experience with Métis business owners.
Apply to this program
Empowering Métis Entrepreneurs in Saskatchewan with Affordable Financing
The SMEDCO Blended Financing (SBF) package offers Métis entrepreneurs in Saskatchewan an affordable means to access primary term debt to achieve their business goals. By combining traditional lending with non-repayable contributions, SMEDCO provides a cost-effective alternative to mainstream financing options.
In-Depth Insight into SMEDCO Blended Financing for Métis Businesses
The SMEDCO Blended Financing (SBF) initiative plays a crucial role in empowering Métis business owners by providing them with accessible and affordable financing solutions tailored specifically to their needs. Recognizing the unique challenges faced by Métis entrepreneurs in Saskatchewan, SMEDCO has crafted a comprehensive financial offering that not only addresses the initial capital requirements but also fosters an environment conducive to business growth and sustainability.
Eligible projects under this financing package include sound and viable business startups, acquisitions, and expansions, ensuring that Métis entrepreneurs can access the necessary funds to turn their visions into reality. By requiring only a 10% cash equity from applicants, SMEDCO lowers the entry barrier for Métis business owners, allowing them to invest significantly less upfront cash equity compared to traditional financing options. Additionally, in certain cases, contributed equity can also be considered, adding a layer of flexibility for entrepreneurs. The non-repayable contribution aspect of the financing significantly reduces the overall borrowing cost, making it an attractive proposition for business owners looking to maximize their investment.
A key criterion for applicants is that their business must be Métis owned and controlled, ensuring that the financial benefits of this program remain within the Métis community. Projects must be viable and capable of providing a reasonable income to their owners, thereby not only supporting individual business growth but also contributing to the local economy and Métis community's prosperity in Saskatchewan. Furthermore, both the applicants and their business headquarters must reside within Saskatchewan, reinforcing the program's commitment to regional economic development.
With over 36 years of experience in supporting Métis entrepreneurs, SMEDCO offers not just financing but also an understanding of the specific needs and challenges that these business owners face. This experience allows SMEDCO to offer the best rates and terms possible, ensuring that Métis-owned businesses have the financial support necessary at every stage of their development. Whether a business is in the nascent stages of its lifecycle or is looking at strategic expansion opportunities, SMEDCO stands as a reliable partner ready to tailor its financing solutions to meet diverse business needs.
One testimonial from Shannon Loutitt of the International Indigenous Speakers Bureau highlights the profound impact of SMEDCO's support: "So extremely grateful for SaskMétis Economic Development Corp. for supporting Métis Business and our dreams to build brighter futures for our Métis people!!!! Highly recommend Métis Entrepreneurs to get connected with SMEDCO!" Such testimonials underline the real-world impact and value of the SMEDCO Blended Financing program in supporting the aspirations and success of Métis entrepreneurs.
For Métis business owners considering this financing option, it is crucial to evaluate their business plans and ensure they meet the outlined criteria to fully benefit from SMEDCO's offerings. The holistic support system provided through SMEDCO not only includes financial aspects but is also bolstered by an overarching commitment to fostering community-oriented economic development, driving both individual and collective success in Saskatchewan.
