First Peoples Economic Growth Fund – Joint Venture Program
Highlights
Hello,
If you're planning a large-scale project in Manitoba, this program is tailored just for you. You can access up to $1,000,000 or 50% of your project costs, whichever is less, with a minimum funding of $200,000. This financial support is designed to help cover startup costs and working capital, allowing you to focus on what you do best—growing your business.
What's in it for you? A variety of financing options are available, including common shares, preferred shares, and term loans. This flexibility ensures you can choose the type of financing that aligns with your business model. The program supports for-profit and commercially viable projects, with a focus on those that add higher value.
Being a business that is at least 51% owned and controlled by Manitoba First Nations, you're in a prime position to benefit. The program is open to all sectors, so whatever your industry, there's a chance to secure the funding you need. With no set end date, you can plan your project with confidence, knowing this support is available when you're ready. It's a straightforward process, making it easier for you to qualify and get started.
Warm regards,
AAA Advisory
Financing Details
The financing options available include common shares, preferred shares, convertible preferred shares, convertible debentures, term loans, and mortgages. Additionally, units in a limited partnership or joint venture can be negotiated based on the terms set out in the partnership or joint venture agreement.
Repayment Terms and Interest Rates:
The specific terms, including repayment schedules and interest rates, will vary depending on the type of financing selected. These details are typically negotiated on a case-by-case basis, ensuring terms that fit both the financial scope of the project and the business's repayment capacity.
Eligible Expenses:
Funds can be used towards a variety of expenses related to the business project, including startup costs and working capital. The total project costs must exceed $500,000 to qualify, supporting substantial business ventures aimed at profitability and growth.
Restrictions on Use of Funds:
The funds must not be used for non-profit projects or activities outside the scope of commercially viable and profit-oriented business plans. The focus is on ensuring that all financed activities directly contribute to the economic growth and sustainability of the business.
Associated Fees:
There may be fees associated with the processing and management of the financing obtained, though specific fees are detailed in the financing agreement based on the chosen financial product and the complexity of the transaction.
Qualifications
- Business must have a profit objective; not-for-profit projects are not eligible.
- Business must demonstrate viability through a sound business plan.
- Business must primarily operate in Manitoba.
- Business must be reputable and appropriate in nature.
- Business must be at least 51% owned and controlled by Manitoba First Nations.
- Total project costs must exceed $500,000.
Description
If your business is planning a large-scale project in Manitoba, this program could be a game-changer. You can receive up to $1,000,000 or 50% of your project costs, whichever is less. The minimum funding starts at $200,000. This financial support is designed to help you cover startup costs and working capital, making it easier for you to focus on growing your business.
The program offers a variety of financing options to suit your needs, including common shares, preferred shares, and term loans. This flexibility means you can choose the type of financing that best fits your business model. The goal is to support projects that are for-profit and commercially viable, with a focus on those that add higher value.
Being at least 51% owned and controlled by Manitoba First Nations, your business is in a prime position to benefit from this opportunity. The program is open to all sectors, so whatever your industry, there's a chance to secure the funding you need. With no set end date, you can plan your project with confidence, knowing this support is available when you're ready.
Program Steps
Prepare Your Business Plan
Create a sound business plan that outlines your project, its viability, and how it will generate profit.Gather Required Documentation
Collect the following documents for your application:- Business registration documents
- Financial statements (last two years)
- Project budget and cost estimates
- Proof of ownership (showing at least 51% control by Manitoba First Nations)
- Any relevant permits or licenses
Choose Your Financing Option
Decide which type of financing best suits your project needs (e.g., common shares, preferred shares, term loans).Complete the Application Form
Fill out the application form with accurate and detailed information about your business and project.Submit Your Application
Send your completed application along with all required documentation to the designated program office.Follow Up
After submission, follow up to ensure your application is being processed and to address any questions or additional information requests.