Starting Your Métis Owned Business During COVID-19

Resource for starting, purchasing, or expanding a business in Saskatchewan

It may sound odd, but right now might be a good time to consider starting your Métis-owned business in Saskatchewan. Despite the changes brought on by the current pandemic, there are still opportunities for resourceful businesses to thrive. While some sectors of the economy are having a tough time, others are flourishing!

Additionally, interest rates have fallen to historic lows. With an uncertain economy and COVID-19 still a concern, low rates are likely to remain for some time. Competitive access to capital is essential to operating your Métis business smoothly and achieving your goals.

In response to the COVID-19 crisis, we have continued to offer our programs and services to allow Métis-owned businesses to take advantage of opportunities in the marketplace.

Many of our clients access our Business Development Program. This program offers interest-free (0%) financing of up to 50% of project costs to a maximum of $300,000.  The minimum cash equity required for this program is 5%. That means you can get into a $100,000 opportunity for $5,000!

The Business Plan Program is also very popular. This program is designed for entrepreneurs who require a professional business plan to attract financing, and is a requirement for our approvals. We will connect you with a consultant who develops financial projections of your business. Do you have enough cash flow to cover the loans for this business? This program helps to answer that question.

We also offer loan programs specific to Métis Women Youth. Under these programs, we can look at funding at larger percentage of the business (up to 65%).

Need working capital cash in the short-term? Check out our Métis Emergency Stabilization Program. In this program, we can provide an interest-free loan of up to $40,000 with 75% of that being repayable and 25% a non-repayable contribution.

Making the choice to become an entrepreneur is an exciting decision — You can be your own boss, have autonomy, focus on your passions, enjoy a flexible schedule, and more — but it’s one that should be made with a bit of advice and guidance.

If you’re looking to take the next step in your entrepreneurial journey, you can call us directly at 306-657-4870, or fill out the form below and one of our Business Development Specialists will get in touch with you.

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Business Advice Blog for Métis Entrepreneurs in Saskatchewan