Women Entrepreneurs Saskatchewan — Business Advising
Highlights
This program is designed specifically for women entrepreneurs like you. It offers one-on-one business advising to help you grow and scale your business. By joining, you gain access to free appointments with experienced advisors who understand your unique challenges and goals.
Why Apply?
- Expert Guidance: Receive tailored advice to navigate your business journey.
- Valuable Resources: Access tools and templates to streamline your operations.
- Confidential Support: Discuss your business plans in a judgment-free environment.
What's in it for You?
- Strategic Planning: Work with advisors to develop a clear roadmap for success.
- Networking Opportunities: Connect with other women entrepreneurs and industry experts.
- Ongoing Support: Schedule follow-up meetings to ensure continuous progress.
Qualifying for this program is straightforward, and the benefits are immense. Take advantage of this opportunity to elevate your business with expert support and resources.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- The loan has a fixed interest rate of 3.5% per annum.
- Repayment term is up to 10 years.
- Monthly payments are required, starting one month after the loan is disbursed.
Eligible Expenses:
- Purchase of new or used equipment.
- Leasehold improvements.
- Working capital to cover operational costs.
- Intangible assets such as patents and trademarks.
Ineligible Expenses:
- Personal expenses.
- Real estate purchases.
- Debt refinancing.
- Dividends or shareholder payments.
Fees:
- Application fee of $150.
- Annual maintenance fee of $100.
- Late payment fee of $25 per missed payment.
Qualifications
- Must be a woman-owned business.
- Must be located in Saskatchewan.
- Must have a WESK Trailblazer Membership.
- Must be willing to meet with an advisor in-person, by video call, or by phone.
Must be prepared to engage in strategic and efficient business advising sessions.
Disqualifications:
- Businesses not owned by women.
- Businesses located outside of Saskatchewan.
- Businesses without a WESK Trailblazer Membership.
Description
This program offers your business a chance to borrow up to $1,000,000. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Eligible purchases include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or working capital, the program can provide up to $150,000.
The federal government guarantees 85% of the loan, giving you a significant safety net.
This loan program is flexible. If you have made eligible purchases in the last 365 days, you can include them in this loan.
You have various options to repay the loan. You can choose a variable interest rate, a fixed one, or a combination of both.
You have up to 15 years to pay back the loan, regardless of how you use the funds.
Program Steps
Sign Up for a WESK Trailblazer Membership:
- Purchase or renew your membership.
- Create your WESK account.
- Remember to jot down your username and password.
Log In to Your Account:
- Visit the WESK website.
- Log in using your username and password.
Submit a Request for Business Advising:
- Click on your account.
- Select "Business Advising" from the sidebar.
- Submit your application.
Prepare Documentation:
- Gather necessary documents, including:
- Business plan
- Financial statements
- Details of your business goals and challenges
- Any specific questions or topics you want to discuss
- Gather necessary documents, including:
Wait for Confirmation:
- You will hear from WESK within 5 business days or less to book an appointment.
Book Your Appointment:
- Choose a convenient time for your appointment.
- Appointments can be in-person, by video call, or by phone.
Prepare for Your First Appointment:
- Review the proposed agenda.
- Think about what you’d like to focus on during the meeting.
- Share any relevant information with your advisor beforehand to help them prepare.
Attend Your Appointment:
- Be ready to discuss your business goals and challenges.
- Take notes during the meeting to track your progress and next steps.
Follow Up:
- Summarize the actions and decisions from the discussion.
- Identify next steps and any homework.
- Schedule your next meeting if needed.
Utilize Additional Resources:
- Check out WESK’s toolkit of resources.
- Take advantage of other WESK support services as needed.