Business Contribution Fund

First Peoples Economic Growth Fund (FPEGF) has a new Business Contribution Fund (BCF) available for eligible First Nation Businesses in Manitoba. Financing under the BCF is non-repayable.

Grant Deadline

Deadline not available

Funding Amount

$250,000

Type of Grant

Grant

Sectors

All Sectors

Demographics

Indigenous

Incorporation

For Profit

Perks

Region Restriction

This grant is restricted to whole of Canada

Keywords

Age Restriction

This grant is age restricted from 18 to 100

Eligibility and Requirements

The key program guidelines and overview is as follows:

• Maximum contribution towards a business owned by a First Nation individual is up to 40% of eligible costs to a maximum of $99,999.
• Maximum contribution towards a business owned by a Manitoba First Nation or group of Manitoba First Nations is up to 30% of eligible costs to a maximum of $250,000.
• Contributions may be made towards a start-up, expansion or acquisition of a viable business.
• If you are requesting a non-repayable contribution towards an acquisition of a business, we will require three years of historical financial statements and an independent Business Valuation which must be done by a Certified Business Valuator. We can provide up to 75% of the Business Valuation cost as a non-repayable contribution.
• To be eligible for the contribution:
• you must have a minimum of 10% cash equity to put into the business.
• a minimum of a 40% commercial loan is required as part of the total financing of the business.
• the business must be at least 51% owned by a First Nation individual or Manitoba First Nation Community or group of Manitoba First Nations.
• if it is a partnership, the business must be at least 51% First Nation owned and the contribution will be in proportion to the First Nation's ownership.
• the First Nation owner or partner must be an integral part of the business.
• the business must show viability and management capacity through the submission of a business plan.
• Besides a contribution towards capital and operating as summarized above, FPEGF will also consider providing a non-repayable contribution of up to 75% of the cost for the development of an independent business plan. As well we are able to contribute up to 75% towards environmental assessments when required, 60% towards marketing costs and 75% towards business support (training, aftercare management).
• The non-repayable contribution will not contribute towards certain businesses such as bars, gambling (VLTs), sexually exploitive, pawn shops, payday loans, tobacco shop, etc.
• It cannot be a passive investment (real estate, apartment block, a business that someone else is managing).
• FPEGF will not contribute towards an asset that can be perceived to be for personal use such as a car or residential house.
• The contribution will not support a business that will significantly harm another business (i.e. a second laundromat in a small town that cannot support two).
• When a contribution is made, there is a control period of generally three years. During the control period, financial statements must be prepared and submitted along with a "Business Performance Review." If the business does not remain in operation or changes in any significant way during the control period (i.e. sale of a significant asset or the acquisition of a partner), the non-repayable contribution will be deemed to be repayable and collection efforts will commence.

Grant Application website

https://www.firstpeoplesfund.ca/programs/business-contribution-fund

Contact

102 - 1075 Portage Avenue

Winnipeg, Manitoba

R3G 0R8

Phone:   (204) 942-6026Toll Free:   1-888-942-6026Fax:   (204) 942-6441Website:   www.firstpeoplesfund.ca