Funding Options
Full-Time Program
A program for starting a new business or expanding an established business that will operate on a full-time basis.
Project funding is made up of:
60% Loan
30% MEAP Grant
10% Owner’s Equity
Total project costs must be over $20,000.
- All loans require sufficient collateral to secure the project funding. Acceptable forms of collateral include business or personal assets such as equipment, vehicles, property, or other security of comparable value.
- Applicants must commit to the business as their sole full-time occupation and may not engage in other employment.
- Expansion projects must demonstrate clear business growth potential and financial viability.
- The business must generate a minimum annual income of $20,000 for the applicant.
- Working capital costs are capped at three months of operating expenses, such as insurance, rent, and employee salaries. Working capital may not exceed 50% of total project costs.
- Loans are closed to pre-payment for the first two years. Early repayment during this period is subject to a three-month interest penalty.
- Borrowers must submit an annual review of business financial statements, which may be unaudited.
Part-Time Program
A program for starting a new business or expanding an established business that will operate on a part-time basis.
Project funding consists of:
65% Loan
25% MEAP Grant
10% Owner’s Equity
Total project costs must be between $10,000 - $50,000.
- All loans require sufficient collateral to secure the project funding. Acceptable forms of collateral include business or personal assets such as equipment, vehicles, property, or other security of comparable value.
- Expansion projects must demonstrate clear business growth potential and financial viability.
- Working capital costs are capped at three months of operating expenses, such as insurance, rent, and employee salaries. Working capital may not exceed 50% of total project costs.
- Loans are closed to pre-payment for the first two years. Early repayment during this period is subject to a three-month interest penalty.
- Borrowers must submit an annual review of business financial statements, which may be unaudited.
Métis Women Micro-Business Program
A program for Métis women to start a new micro-business or expand an established micro-business.
Project funding consists of:
50% Loan
40% Non-repayable Subsidy
10% Owner’s Equity
Total project costs must be between $5,000 - $25,000.
- Working capital costs are capped at three months of operating expenses, such as insurance, rent, and employee salaries. Working capital may not exceed 50% of total project costs.
- Loans are closed to pre-payment for the first two years. Early repayment during this period is subject to a three-month interest penalty.
- Borrowers must submit an annual review of business financial statements, which may be unaudited.
Business Loans
Flexible funding with personalized support for Métis, Inuit, and Non-status Indian entrepreneurs or businesses.
Up to 90% of project costs can be financed.
A minimum 10% owner’s equity is required.
Financing available from $5,000 to $325,000, with higher amounts considered on an exception basis.
Basic Eligibility Criteria
The applicant must be an Alberta resident, and the business must be located in Alberta.
The applicant must have at least 6 months to 1 year of experience in the business’s industry.
Business must be at least 51% owned and controlled by the Métis Entrepreneur.
If there are non-Métis partners, support is prorated based on the Métis ownership, and those partners must contribute their own share of equity and/or financing.
Projects must involve either the start-up or expansion of a business.
The grant portion of funding cannot be used for passive investments, real estate, houses, or buildings.
Businesses related to cannabis, tobacco, alcohol, or gambling are not eligible.
The applicant must demonstrate that the business is viable and sustainable.
As part of the application review, a hard credit check will be completed.
Applicants must have no outstanding or unpaid collections.
Recent personal and/or business tax returns must be filed, and any amounts owing must be paid in full.