LRCC provides a Business Grant & Loan Program to finance the start-up, acquisition and/or expansion of a Métis-owned small business in Manitoba.

Projects must be sound with reasonable risk factors and generally be supported by a business plan.

LRCC's financial services are extended and delivered on the basis of prudent and sound business principles and practices so as to protect the integrity of its capital base and to ensure the continued delivery of its services. Business grants and loans are not designed to assist everyone. The applicant has to meet several basic requirements, in addition to specific conditions that will be identified as the application progresses.

Funding

Maximum amounts under this program are:

• $99,999.00 in grant funding.
• $250,000.00 in commercial loan funding (some projects may qualify for a higher loan amount on an exception basis.)

Eligibility

• The owners must be able to make a cash investment of no less than 10% of the total project costs.
  • For example, a $100,000.00 project would require the owners to have $10,000.00 in non-borrowed cash on hand.
• 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 $30,000.00 unless the applicant is an existing business looking to expand. (For start-ups under $30,000.00 please see: /mmf-entrepreneurship-initiative)

What is not eligible?

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

Passive investments: (i.e. real estate, apartment building or complexes or a business that someone else is managing for the owner).

Certain costs such as an asset that can be perceived to be for personal use, such as a car or pick-up truck, will not be eligible for grant funding but may be eligible for loan financing.

How is the grant portion of the financing calculated?

Certain costs included in your project may be eligible for a non-repayable (grant) contribution which will then make up a portion of your financing package. Based on the project costs provided, LRCC staff will be able to communicate with you on what the potential grant amount would be (subject to final approval).

Costs typically eligible for grant funding include:

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

Note: Land & Building costs are typically not eligible for grant funding unless the business will operate in an area where leased property is clearly not available.

LRCC is not able to provide grant funding to any costs already incurred by the owners. We strongly recommend reaching out to LRCC staff before incurring costs related to your project.

Application process

Please allow up to 6-8 weeks for processing an application once we receive all the necessary documentation. Failure to provide the necessary documentation and answers to questions in a timely manner will result in application processing delays.

Please contact our office directly and speak to our Credit team for more details about our Business Grant & Loan program.

Business Grant & Loan Application

Personal Statement of Affairs (Required with each application - each owner must fill out a separate form)

Business Grant & Loan Info Sheet

Business Plan Checklist

Bridge Financing

LRCC provides bridge financing to existing Métis-owned businesses.

Bridge Financing - short term loans available to bridge external financing that is committed but pending disbursement.

LRCC's financial services are extended and delivered on the basis of prudent and sound business principles and practices so as to protect the integrity of its capital base and to ensure the continued delivery of its services. Direct Loan Programs are not designed to assist everyone. The applicant has to meet several basic requirements, in addition to specific conditions that will be identified as the application progresses.

Note that Bridge Financing is not eligible to receive a grant contribution.

Please utilize the Grant & Loan application and personal statement of affairs above to apply for Bridge Financing through LRCC.