LRCC — Metis Women Entrepreneurship Program
Highlights
The Métis Women Entrepreneurship Program is designed specifically for Métis women like you who are looking to start or expand their businesses in Manitoba. This program offers up to $50,000 in financing, which includes both a grant and a loan. This means you get the financial support you need without the burden of a large debt.
What You Get:
- Commercial financing to help you start or grow your business
- Mentorship opportunities to guide you through your entrepreneurial journey
- Workshops and training to enhance your business skills
Why Apply?
- Flexible financing: A combination of grant and loan makes it easier to manage repayments.
- Supportive community: Access to mentorship and networking events to connect with other Métis women entrepreneurs.
- Skill development: Workshops and training sessions to help you succeed.
Qualifying for this program is straightforward, and being approved can provide the boost your business needs to thrive. Take advantage of this unique opportunity to grow your business with the support of the Louis Riel Capital Corporation.
Financing Details
Type of Financing:
- Grant and Loan: The program offers up to $50,000.00 in financing, which is a combination of a grant and a loan.
Repayment Terms and Interest Rates:
- Repayment Term: The loan portion of the financing will have specific repayment terms, which will be detailed in the loan agreement.
- Interest Rates: Interest rates will be competitive and will be specified in the loan agreement.
Eligible Expenses:
- Business Start-Up Costs: Funds can be used for initial costs to start a business.
- Business Expansion Costs: Financing can be applied towards expanding an existing business.
- Equipment and Supplies: Purchase of necessary equipment and supplies for the business.
- Operational Costs: Day-to-day operational expenses are eligible.
Ineligible Expenses:
- Personal Expenses: Funds cannot be used for personal or non-business-related expenses.
- Debt Repayment: The financing cannot be used to pay off existing debts.
Fees:
- Application Fee: There may be a nominal application fee, which will be specified during the application process.
- Administrative Fees: Any additional administrative fees will be outlined in the loan agreement.
Qualifications
- Must be a Métis woman entrepreneur.
- Business must be located in Manitoba.
Eligible for up to $50,000.00 in financing, composed of a grant and loan.
Disqualifications:
- Businesses not owned by Métis women.
- Businesses located outside of Manitoba.
Description
The Métis Women Entrepreneurship Program offers a unique opportunity for your business. You can receive up to $50,000 in financing, which includes both a grant and a loan. This money can help you start or expand your business in Manitoba.
You can use the funds for various business needs, such as purchasing equipment, renovating your workspace, or covering operational costs. This program is designed to support Métis women entrepreneurs, providing not just financial aid but also mentorship opportunities and workshops to help you succeed.
The financing terms are favorable, making it easier for you to manage and grow your business. This program is a valuable resource to help you achieve your business goals and thrive in your community.
Program Steps
Gather Required Documents: Prepare the necessary documentation to support your application. This includes:
- Business Plan
- Financial Statements (e.g., balance sheets, income statements)
- Proof of Métis heritage
- Personal Identification (e.g., driver's license, passport)
- Details of intended use of funds (e.g., quotes for equipment, renovation costs)
Complete the Application Form: Fill out the application form for the Métis Women Entrepreneurship Program. Ensure all sections are completed accurately and thoroughly.
Review Financing Options: Understand the financing options available, including the grant and loan components. Decide how much funding you need and how it will be allocated between the grant and loan.
Contact LRCC for Assistance: Reach out to the Louis Riel Capital Corporation (LRCC) for any questions or guidance on the application process. You can contact them via email at [email protected] or by phone at 204-589-0772.
Submit Your Application: Submit the completed application form along with all required documentation to the LRCC. Ensure you keep copies of everything for your records.
Attend an Interview (if required): Be prepared to attend an interview or meeting with LRCC representatives to discuss your business plan and funding needs.
Wait for Approval: The LRCC will review your application and documentation. They may request additional information or clarification during this process.
Receive Funding: Upon approval, discuss the final terms of the grant and loan with LRCC. Once agreed upon, the funds will be disbursed to help you start or expand your business.