How much funding can be received?

Funds up to 80% of admissible expenses, capped at $150000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Women Entrepreneurs Saskatchewan — Financing?

Women Entrepreneurs Saskatchewan — Financing is funded by Women Entrepreneurs Saskatchewan (WESK)

What are Women Entrepreneurs Saskatchewan — Financing's eligibility criterias?

The business must be a registered entity in Saskatchewan or have the name reserved. The business must be owned and controlled by a woman, with at least 50% ownership considered under certain conditions. The owner must be a Saskatchewan resident, 18 years or older, and a Canadian citizen or permanent resident.

Women Entrepreneurs Saskatchewan — Financing

SK, Canada

Loans for Saskatchewan women entrepreneurs

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Partnering and Collaboration

Expert Advice

Loans and Capital investments

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Women Entrepreneurs Saskatchewan (WESK)

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Get a loan of up to $150,000 to help finance up to 80% of your business project.

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The WESK Financing program provides a structured lending mechanism tailored to support women entrepreneurs in Saskatchewan. This initiative facilitates business growth by offering diverse financial features and support options.

Loans are available for amounts between $1,000 and $150,000 with additional financing opportunities up to $50,000 provided through WEOC partnerships.
Competitive interest rates are set at Fixed, Prime + 3%, with reductions possible based on factors like credit history and business plan strength.
Initial interest-only payment options are provided while businesses become operational.
No penalties are imposed for early loan repayment or lump sum payments.
Loan terms are adjustable, ranging from 1 to 7 years to suit diverse business needs.
Loans under $20,000 do not typically require registered security, whereas loans above require security using business or personal assets.
Owner's contribution of at least 20% of total project costs is mandated; however, the John and Bernice Williams Equity Investment Fund can aid in covering half of this requirement up to $10,000.

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$ 120,000

Launching a social enterprise to support local artisans

$ 120,000

Starting a non-profit bakery that employs marginalized communities

$ 120,000

Opening a new fitness studio offering innovative wellness programs

$ 72,000

Expanding inventory for a growing local bookstore

$ 144,000

Purchase and renovation of a heritage café

$ 120,000

Acquiring advanced software tools for a tech start-up

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Eligibility for the WESK loan program in Saskatchewan is based on specific criteria related to the applicant and the business.

The applicant must be a WESK member.
Applicants must be women, or operations owned and controlled by women, or women.
Applicants must be Canadian citizens or landed immigrants, or legal entities owned and controlled by Canadian citizens or landed immigrants.
The business must be registered in Saskatchewan or have the name reserved.
The business must be operating or about to operate in Saskatchewan.
The applicant must be a Saskatchewan resident and 18 years of age or older.
Sufficient security must be provided for loans over $20,000.
An owner’s contribution of at least 20% must be provided.

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The WESK Financing program is specifically designed for women entrepreneurs in Saskatchewan who meet certain criteria. To apply, you must:- Be a WESK member.- Be a woman, or an operation owned and controlled by a woman or women. This is typically defined as more than 50% ownership, although 50% ownership may be considered in certain circumstances.- Be a Canadian citizen or landed immigrant (permanent resident), or a legal entity owned and controlled by Canadian citizen(s) or landed immigrant(s).- Be a registered business in Saskatchewan (or have the name reserved).- Be operating or about to operate in Saskatchewan.- Be a Saskatchewan resident and at least 18 years old.- Have sufficient security for loans over $20,000.- Provide a 20% owner's contribution towards the total project/business costs.

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There are certain types of companies that are not eligible for the WESK Financing grant:

Companies not owned or controlled by women
Non-Canadian citizens or legal entities not owned or controlled by Canadian citizens

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The financing program focuses on supporting women entrepreneurs in Saskatchewan by providing loans for various business activities. Specific eligible projects or activities are generally those involved in starting or expanding businesses within the region.

Starting a new business in Saskatchewan.
Expanding an existing business within Saskatchewan.
Growth projects requiring financial investment.

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This financing option is specifically available for women entrepreneurs operating in Saskatchewan. The program supports businesses aiming to establish or expand their operations within the province.

Businesses operating in Saskatchewan.
Companies headquartered in Saskatchewan looking to expand within or beyond the province.

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There are evaluation and selection criteria for the WESK Financing grant.

Be a WESK member and meet eligibility requirements listed above.
Provide a detailed loan application and necessary financial information.
Demonstrate a viable business plan and ownership structure.
Show evidence of security and owner's contribution.
Business must be registered and operating in Saskatchewan.

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Here are additional relevant details for WESK financing:

Interest-only payments are available at the start, allowing businesses to allocate resources effectively as they become operational.
All interest collected on loans is reinvested to support future women entrepreneurs seeking loans.
An appeal process is available if a loan application is denied, involving a review by the CEO and potentially two independent individuals.
The CEO's decision on appeals is binding, providing a clear final resolution in the process.