The First Peoples Economic Growth Fund (FPEGF), through assistance provided by the Government of Canada, is taking action to help ensure that First Nation business owners in Manitoba impacted by COVID-19 have access to the support they require. The Emergency Loan Program is a component of the Indigenous Business Stabilization program.
Note: Applicants must have at least 51% First Nation ownership of the business from at least March 31, 2020, and beyond.
The Government of Canada Emergency Loan Program is designed as an emergency measure to support Indigenous small business owners in meeting their immediate operating cash flow needs. These funds are not intended to replace or duplicate government or other bank/lender emergency financing/funds that are available to businesses in Canada.
Maximum assistance of up to $60,000 is comprised of the following:
- Amounts up to and including $40,000 of ELP, break down to a 75% loan and 25% non-repayable contribution
- Amounts over $40,000 and up to $60,000, break down to a 50% loan and 50% non-repayable contribution
- Loan and non-repayable contribution are issued together
- up to a maximum of 48 months term to repay the loan portion
- interest free
- no payments for a maximum of first 12 months
- loan payments are fully amortized and fully repayable over the remainder of the term
- loan repayments can be made voluntarily at any time after six months of issuance, without fees or penalties
The deadline to apply is March 19, 2021.
You can download an application form here.