CDEM — Financing
Highlights
If your business is owned by Francophones and based in Manitoba, this program is a fantastic opportunity for you. It offers loans and capital investment to help you start, expand, or diversify your business. Whether you're launching a new product, expanding your operations, or creating an export division, this fund is designed to support your growth.
The program doesn't set a specific amount of funding, which means there's flexibility to meet your unique needs. No minimum or maximum revenue qualifications are required, and it applies to all sectors and legal structures. This means your business, regardless of its size or industry, can benefit from this financial support.
The goal here is to provide you with the best possible conditions to secure financing. You'll receive expert advice on developing a professional business plan that meets financial institution requirements. Plus, you'll get guidance on diversifying your funding sources. This is all about making sure you have the capital you need to succeed.
Financing Details
Loan Details:
The program offers loans specifically designed to support the start-up, expansion, and creation of export divisions for Francophone businesses in Manitoba. These loans are crucial for businesses looking to grow or begin operations.
Repayment and Interest Rates:
- The loans come with competitive interest rates, which are determined based on the business plan and creditworthiness.
- Repayment terms are flexible, tailored to support the business's growth and financial health. Specific terms will be discussed during the application process.
Eligible Expenses:
- Funds from the loan can be used towards operational costs, equipment purchases, and other expenses directly related to business expansion and export activities.
Restrictions on Use of Funds:
- The loan cannot be used for non-business related expenses or to refinance existing debts.
Associated Fees:
- There may be application or processing fees involved with the loan. These will be disclosed upfront during the application process to ensure transparency.
Qualifications
- The business must be owned by one or several Francophones with at least a 50% ownership interest.
- The business must operate or be about to operate in Manitoba.
- Any loan request must be accompanied by a business plan that demonstrates commercial viability and the ability to repay.
- Applicants must prove they have explored all other reasonable methods to obtain financial support and were unable to secure it.
Description
If your business is owned by Francophones and based in Manitoba, this program is a fantastic opportunity for you. It offers loans and capital investment to help you start, expand, or diversify your business. Whether you're launching a new product, expanding your operations, or creating an export division, this fund is designed to support your growth.
The program doesn't set a specific amount of funding, which means there's flexibility to meet your unique needs. No minimum or maximum revenue qualifications are required, and it applies to all sectors and legal structures. This means your business, regardless of its size or industry, can benefit from this financial support.
The goal here is to provide you with the best possible conditions to secure financing. You'll receive expert advice on developing a professional business plan that meets financial institution requirements. Plus, you'll get guidance on diversifying your funding sources. This is all about making sure you have the capital you need to succeed.
Program Steps
Contact CDEM
Reach out to Joel Lemoine, the director of business services, at [email protected] for initial guidance.Prepare Your Business Plan
Develop a professional business plan that demonstrates your business's potential for commercial viability and ability to repay the loan.Gather Required Documentation
Collect the following documents to support your application:- Proof of Francophone ownership (at least 50%)
- Business registration documents
- Financial statements (if applicable)
- Market analysis or research
- Any previous funding applications or rejections
Explore Other Funding Options
Document your efforts to seek other financial support and explain why those options were not viable.Submit Your Application
Send your completed application, including your business plan and documentation, to CDEM for review.Follow Up
After submission, follow up with CDEM to ensure your application is being processed and to address any questions they may have.