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First Peoples Economic Growth Fund: Entrepreneur Loan Program

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This program offers interest-free loans of up to $200,000 or 50% of project costs, whichever is less, to Manitoba First Nation entrepreneurs. This is a repayable loan. You must contribute at least 5% equity and get approval before spending.

Know a business owner this could help?
“Each loan will be for the lesser of $200,000 per project, or 50% of the fair market value of the total project costs (including identified startup costs and working capital) identified in the project costs.”

From the official program page

At a glance

Maximum supportUp to $200,000 per project or 50% of the fair market value of total project costs, whichever is less (including startup costs and working capital). The official page does not list an application fee.
Issued byFirst Peoples Economic Growth Fund Inc.
Administered byFirst Peoples Economic Growth Fund (FPEGF)
RegionManitoba

Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.

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Is this for you?

  • You are a member of a Manitoba First Nation, living on or off reserve, and are 18 or older.
  • You need funding to start, expand, or acquire a business, or for working capital and startup costs.
  • You can contribute at least 5% equity in cash or unencumbered assets and have a sound business plan.

Probably not the right fit if

  • You are not a member of a Manitoba First Nation.
  • You intend to use the funds for refinancing or paying existing debt.
  • You have unresolved collection issues or cannot provide a viable business plan.

How much you'd realistically get

Up to $200,000 per project or 50% of the fair market value of total project costs, whichever is less.

What may be supported

  • Starting a new business.
  • Expanding an existing business.
  • Acquiring an existing business.
  • Working capital needs.
  • Startup costs.

What's excluded or restricted

  • Refinancing purposes.
  • Paying existing debt.

How applying works

Effort: moderateYou must prepare a sound business plan, register your business with the Companies Office, and prepare your equity contribution before applying.

  1. 01Ensure you are a member of a Manitoba First Nation and eligible to work in Canada.
  2. 02Register your business name with the Companies Office.
  3. 03Prepare a sound business plan demonstrating viability and calculate your 5% equity contribution.
  4. 04Submit your application to the First Peoples Economic Growth Fund (FPEGF) via their official channel.
  5. 05Undergo a credit score review and resolve any collection issues if flagged.

Who to ask: https://firstpeoplesfund.ca/contact/

Documents commonly required

  • Sound business plan demonstrating viability.
  • Proof of Manitoba First Nation membership.
  • Business registration with the Companies Office.
  • Documentation of equity contribution (cash or unencumbered assets).
  • Credit history information for review.

What to know before you count on it

  • This is a loan, not a grant, so you must repay the full amount over a term normally not exceeding 10 years (20 years for buildings).
  • You must contribute a minimum of 5% equity (cash or unencumbered assets), which may be higher for high-risk projects.
  • A credit score review is conducted, and unresolved collection issues will disqualify you, though a low score alone may not.
  • The official page does not list deadlines. Ask FPEGF whether the program is taking applications before you apply.

What are your odds?

Approval depends on the viability of your business plan, your equity contribution, and your credit history; there is no guarantee of funding.

Frequently asked questions

Is the interest-free loan taxable?

Interest-free loans are generally not taxable income, but you must repay the principal. Confirm specific tax implications with a professional.

Can I use the loan for working capital?

Yes, the FPEGF funds working capital, startup costs, and capital for starting, expanding, or acquiring a business.

What if I have a low credit score?

A low credit score alone does not disqualify you, but you must have no unresolved collection issues.

How long do I have to repay the loan?

Loans are repayable over a term normally not exceeding 10 years, or 20 years for buildings.

What you can combine it with

This program may be combined with other FPEGF programs like the Joint Venture Program or Business Plan Assistance, but confirm eligibility for each.

Worth reading before you apply

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Page last updated ; status and deadline checked . Source: official program page.