WeMB: Loans
WeMB lends $5,000 to $150,000 to women-owned businesses in Manitoba. Interest rates start at Prime + 2%, with terms up to 5 years. This is a loan you must repay.
“WeMB offers loans for a variety of business needs in any amount between $5,000 - $150,000.”
From the official program page
Before you spend any money
You must get your business plan approved by a WeMB Business Advisor before you can apply or spend any money.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Is this for you?
- You are a woman (cis, trans, 2S, or gender-diverse) who owns at least 51% of a business in Manitoba.
- You need capital for startup costs, expansion, working capital, or purchasing an existing business.
- You are ready to get your business plan approved by a WeMB Business Advisor before spending any money.
Probably not the right fit if
- You are not a Canadian citizen or landed immigrant.
- You are looking for a grant or non-repayable funding, since this is a loan that must be repaid with interest.
- You are applying for an Expansion Loan but have not had three or more years of profitable income.
How much you'd realistically get
Loans range from $5,000 to $150,000 for startup and expansion needs, or up to $25,000 for working capital and micro-business needs.
What may be supported
- Startup costs
- Expansion costs such as new equipment or second location
- Purchase of an existing business
- Working capital for inventory, payroll, or rent
- Leasehold improvements and fixtures
- Marketing and advertising
- Computers and software
What's excluded or restricted
- Owner's draw (specifically excluded from WeWork working capital loans)
How applying works
Effort: moderateYou must prepare a complete business plan and get it approved by a WeMB Business Advisor before applying, which requires time and documentation.
- 01Determine your eligibility based on ownership and location requirements.
- 02Gather required documents using the checklists available for download on the WeMB website.
- 03Have a complete business plan approved by a WeMB Business Advisor.
- 04Apply online via the 'Apply for a Loan' portal at wemb.ca.
Who to ask: https://www.wemb.ca/contact
Documents commonly required
- Complete business plan approved by a WeMB Business Advisor
- Proof of legal entity status (sole proprietor, partnership, or corporation)
- Proof of ownership and control by a self-identifying woman
- Financial statements or tax returns (especially for Expansion loans requiring 3 years of profit)
What to know before you count on it
- Interest rates are tied to the Prime rate plus a margin (Prime + 3% for Startup, Prime + 2% for Expansion), so your cost of borrowing fluctuates with the Bank of Canada.
- Expansion loans strictly require three or more years of profitable income, which disqualifies many newer businesses.
- Owner's draws are specifically excluded from working capital loans, meaning you cannot use these funds for personal income.
- The application process requires a pre-approved business plan, adding a step before you can even submit the loan request.
What are your odds?
Approval depends on the strength of your business plan and financial history, particularly for expansion loans requiring proven profitability.
Frequently asked questions
Is there an application fee?
The official page does not list an application fee. Ask WeMB before you apply.
Can I repay the loan early?
Yes, there are no early repayment penalties.
What is the maximum loan term?
Up to 5 years for Startup and Expansion loans, or 3 years for WeWork and WeMicro loans.
Can I use the loan for owner's draw?
No, owner's draws are specifically excluded from working capital loans.
More funding by what it pays for
What you can combine it with
WeMB offers related programs like WeGreen Loans and WeTech Loans; confirm with WeMB if you can stack these with a general loan.
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Worth reading before you apply
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Page last updated ; status and deadline checked . Source: official program page.