WeMB: WeWork Loans
Get $5,000 to $25,000 to grow your Manitoba business. This is a repayable loan with a 1% admin fee deducted from proceeds and variable interest rates starting at Prime + 2%.
“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
Approval must come BEFORE spending; funds are disbursed only after approval and submission of a void cheque and insurance proof.
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 who owns at least 51% of a business operating in Manitoba.
- You need funds for working capital like payroll or specific startup costs like equipment.
- You have a complete business plan and up-to-date personal and business taxes.
Probably not the right fit if
- You do not own at least 51% of the business or are not a woman.
- Your business is not operating or planning to operate in Manitoba.
- You need funds for owner draws or personal expenses rather than business growth.
How much you'd realistically get
Between $5,000 and $25,000 per loan, with a total outstanding debt cap of $150,000 with WeMB.
What may be supported
- Inventory purchases
- Employee payroll (excluding owner's draw)
- Rent payments
- Equipment purchases
- Leasehold improvements
- Marketing and advertising
- Computers and software
What's excluded or restricted
- Owner's draw (for WeWork loans).
- Loans over $25,000 (your total loans with WeMB can reach $150,000).
- Businesses not operating or about to operate in Manitoba (unless case-by-case approval for out-of-province owners).
- Businesses not owned or controlled by a self-identifying woman (unless approved case by case when a woman owns less than 51%).
How applying works
Effort: moderateYou must prepare a Micro Business Plan of about 10 pages and financial projections, plus gather tax notices, ID and incorporation documents.
- 01Determine eligibility and gather required documents including tax notices and ID.
- 02Submit a Micro Business Plan and financial projections for review by a WeMB Business Advisor.
- 03Complete and sign the Loan Application and Personal Statement of Affairs form.
- 04Provide current resume, government-issued photo ID, recent pay stub, Notice of Assessment, and Articles of Incorporation.
- 05Apply via the online portal or contact WeMB directly.
- 06Upon approval, provide a void cheque and proof of business insurance naming WeMB as loss payable.
Who to ask: info@wemb.ca or call 204-988-1860
Documents commonly required
- Micro Business Plan (approx. 10 pages) and financial projections
- Notice of Assessment (personal and business)
- Government-issued photo ID and current resume
- Articles of Incorporation or Business Name Registration
- Void cheque and proof of business insurance (upon approval)
What to know before you count on it
- Interest rates are variable: Prime + 4% for WeWork startups, Prime + 3% for WeWork expansions, Prime + 3% for WeMicro startups, and Prime + 2% for WeMicro expansions.
- A 1% Loan Administration Fee (plus GST) is deducted directly from your loan proceeds upon approval, reducing the cash you receive.
- Repayment is monthly starting after approval, though interest-only payments are available for the first 6 months.
- You must have a business plan approved by a WeMB Business Advisor before the loan is finalized.
What are your odds?
Approval depends on advisor review of your business plan and financial health; it is not automatic.
Frequently asked questions
Is the money taxable?
Loan proceeds are not taxable income, but interest payments may be tax-deductible; confirm with your accountant.
Can I use this for owner's salary?
No, owner's draws are excluded from WeWork loans. WeMicro loans are for startup/expansion costs like equipment and marketing.
What if I own less than 51%?
Businesses with 50% or less female ownership are considered on a case-by-case basis.
How long is the repayment term?
Terms are up to 3 years, with monthly payments due on the 15th.
More funding by what it pays for
What you can combine it with
You can hold multiple WeMB loans up to a total debt of $150,000.
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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.