LRCC — Business Advisory
Highlights
This program is designed specifically for small business owners like you. It offers independent and highly experienced advice to help your business grow and develop. Whether you are starting up or purchasing a business, you will receive one-on-one guidance from a development officer. This officer will act as a sounding board in the early stages and later become a valuable business coach and mentor.
Key Benefits:
- Expert Guidance: Access to experienced advice tailored to your business needs.
- One-on-One Support: Personalized assistance from a dedicated development officer.
- Industry Insights: Valuable statistics and performance indicators to help you make informed decisions.
By applying to this program, you will gain access to resources that can significantly enhance your business performance. The process to qualify is straightforward, making it easier for you to get the support you need.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed rate of 5% per annum.
Eligible Expenses:
- Purchase of equipment.
- Leasehold improvements.
- Business expansion costs.
- Working capital.
Restrictions on Use of Funds:
- Funds cannot be used for personal expenses.
- Funds cannot be used to refinance existing debts.
Fees:
- Application Fee: $150.
- Administration Fee: 1% of the loan amount, included in the interest rate.
- Late Payment Fee: $25 per missed payment.
Qualifications
- Must be a small business.
- Must be located in Manitoba.
Must be a Métis-owned business.
Disqualifications:
- Businesses not located in Manitoba.
- Businesses not Métis-owned.
Description
Our business advisory services offer you expert advice to help your business grow and succeed. When you start or buy a business, a development officer will work with you one-on-one. This officer will be your guide in the early stages and later on as your business develops. They can act as a valuable coach and mentor.
You will have access to valuable industry statistics from various sources. Our staff can direct you to these sources, helping you understand and use this information effectively. By leveraging industry knowledge and reliable third-party sources, the development officer will assist you in reviewing and analyzing your business performance.
This program is designed to provide you with the support and insights needed to make informed decisions. It aims to help you navigate the challenges of business growth with confidence.
Program Steps
Contact LRCC: Reach out to Louis Riel Capital Corporation via email at [email protected] or call 204-589-0772 to express your interest in the business advisory services.
Schedule an Initial Meeting: Arrange a meeting with a development officer to discuss your business goals, needs, and how the advisory services can support your business growth.
Prepare Documentation: Gather the necessary documents for the application process. These may include:
- Business Plan
- Financial Statements (e.g., balance sheets, income statements)
- Market Analysis or Industry Statistics
- Details of Business Start-Up or Purchase (if applicable)
- Any other relevant business performance indicators
Attend the Initial Meeting: Meet with the development officer to review your business plan and financials. Discuss your business's current status and future plans.
Develop an Action Plan: Work with the development officer to create a tailored action plan for your business. This plan will outline the steps needed to achieve your business goals.
Submit Required Documentation: Provide the development officer with all the necessary documents. Ensure everything is complete and accurate to avoid delays.
Ongoing Consultation: Engage in regular consultations with the development officer. Use their guidance and industry knowledge to refine your business strategies and performance indicators.
Implement Recommendations: Follow the advice and recommendations provided by the development officer. Make adjustments to your business operations as needed.
Monitor Progress: Regularly review your business performance with the development officer. Use their feedback to make informed decisions and continue growing your business.
Utilize Additional Resources: Take advantage of any additional resources or programs offered by LRCC, such as workshops, networking events, or mentorship programs.