Supporting Large-Scale First Nations Enterprises
This program is intended to provide support for large-scale First Nations enterprises, which, in the opinion of the Fund, have a business concept that, through initial screening, provides excellent opportunity.
Loan Terms and Conditions
Financing is available for up to the lesser of $1,000,000 or 50% of the fair market value of the total project costs (including identified startup costs and working capital). Minimum funding under this program will be $200,000. Projects funded under this program must be for-profit and commercially viable with total project costs in excess of $500,000. Priority will be given, but not restricted, to higher-end value-added projects.
Eligibility Criteria
Businesses funded under this program must:
- 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.
Forms of Financing Options
- Common shares
- Preferred shares
- Convertible preferred shares
- Convertible debentures
- Term Loans
- Mortgages
- Units in a limited partnership or joint venture for a period negotiated and set out in the partnership or joint venture agreement.