Métis Entrepreneur Equity Program
A non-repayable grant program for individual entrepreneurs and Métis communities.
This program is intended to assist Métis entrepreneurs by providing equity through a non-repayable contribution enhancing the applicant’s ability to leverage financing from other financial institutions and agencies.
Under this program, CCDF can provide a Métis individual a non-repayable contribution of up to 40% of eligible project costs to a maximum of $99,999.
Under this program, CCDF can provide a Métis community owned business with up to 40% of eligible project costs to a maximum of $250,000.
Should the business be sold or disposed of within three years of receiving a non-repayable contribution it will become repayable immediately.
- Contribution Agreement
- Businesses funded under this program must demonstrate viability through a sound business plan.
- Applicants must contribute a minimum of 10% equity to the project.
- Equity must be in the form of cash and must be unencumbered.
- Applicant(s) must be of Métis Ancestry operating a business in Saskatchewan.
- If a married or common-law couple own the business and only one is Métis, the Métis person must be integral to the business and the contribution will be no more than one-half of the maximum for eligible project costs.
- If there is a partnership, the business must be 51% owned by a Métis individual and the contribution will be in proportion to the Métis ownership.
- The Métis applicant must be actively involved in the business full-time.
- CCDF’s non-repayable grant, when combined with other Government grants and the client’s equity, should not exceed 50% of eligible project costs.
- Costs incurred prior to CCDF’s receipt of an application will not be eligible for funding.
- The contribution will not support a business that will significantly harm another business (i.e. a second car wash in a small town that cannot support two).
- No administration fees.
- Funding is approved based on need.
- This funding is a non-repayable grant.
- Leasehold improvements
- Capital costs
- Marketing costs (website, signage, business cards, other)
- Business support costs (legal and/or bookkeeping for the first year only, environmental studies, business valuations of an existing business, training). Other conditions will apply).
- Bars (alcohol provider), gambling (VLTs), sexually exploitive in nature, pawnshops, payday loans, tobacco retailer or manufacturer, cannabis.
- No passive investments (real estate, apartment buildings, a business someone else is managing)
- Contribution towards an asset that can be perceived to be for personal use (car or pick-up-truck)
- Basic farming & ranching
- Political bodies for political purpose
- Cultural activities
- Payments of dividends
- During the control period, financial statements must be prepared and a report outlining the economic benefits of the project (i.e. jobs created) annually.
- The applicant must reimburse CCDF for selling significant assets financed by MEEP within the first three years of operations.
- If the business does not remain in operation or changes in any significant way during the control period (i.e. acquisition of a partner), the non-repayable MEEP contribution will be deemed to be repayable and collection efforts will commence.