Guidelines

• Businesses funded under this program must be for-profit and demonstrate viability through a sound business plan.
• Applicants must contribute a minimum of 5% equity to the project.
• Maximum loan contribution of $20,000 (minimum of 50% of project costs)
• Thr grant contribution is flexible (maximum of 45% of project costs) and based on need.
• Applicant must not be eligible for the Métis Entrepreneurship Equity program (MEEP) to qualify for this grant.  The exception, If MEEP funding is unavailable, an applicant may be eligible to receive the IWE grant.
• The contribution will be interest-free
• No administration fees
• The business must be at least 51% owned by a Saskatchewan Métis Woman (husband and wife partnerships are not eligible)

Repayment

• Repayable contribution for a term not to exceed five years

Eligible Costs:

• Capital costs: purchase of machinery, equipment, leasehold improvements and renovations
• Marketing and promotional material costs (website, signage, business cards, other)
• Inventory and working capital for no more than 3 months (pre-paid start-up costs, insurance)
• Advisory expenses (eligible for a new project or expansion):
  • Business Advisory services
  • Coaching, mentoring, workshops or conference fees
  • Legal, bookkeeping and technical supports for the first year only)
  • Fees associated with participation in business training.

Non-Eligible Costs:

• • Renovations to personal living space unless these can be shown as necessary for the business
  • Passive real estate transactions (land acquisitions) that do not create employment
  • Vehicle purchases which will be primarily utilized for personal use
  • Refinancing of existing debt
  • General ongoing operating costs that should be financed through operations
  • Acquisitions without independent financial statements and a certified business valuation
  • Non-arm’s length transactions
  • The purchase of goods or services where a commitment has been made prior to approval of loan without AFI approval in advance;
  • The purchase of any assets for more than the fair market value
  • The costs of amortization and goodwill.