The Co-operative Loans and Loans Guarantee Board

May provide loan guarantees to cooperatives to assist in the development and expansion of viable cooperatives.

Eligibility Criteria

• Any cooperatives developing or expanding.
• Evidence that adequate financing is not available on reasonable terms without the guarantee.
• Funds must be used for productive purposes including the purchase of building or equipment, renovation, expansion or operational expenses.

Summary

Target Audience

Cooperatives in a development or expansion stage.

Full Description

Cooperatives applying for a loan guarantee must demonstrate that:

• The funds will not be used for refinancing or for payment of an existing debt.
• An effort has been made to secure financing at reasonable terms.
• The development or expansion is for productive purposes.
• There is reasonable evidence of an ability to repay the loan.
• Cooperative principles are being followed by the organization.
• Reasonable security is available.

The Board may guarantee financing from banks, credit unions or any other financial institutions.

Manitoba Contact(s):
Ms. Chris McCarville
The Co-operative Loans and Loans Guarantee Board
Manitoba Agriculture Food and Rural Initiatives
903-401 York Avenue
Winnipeg, Manitoba  R3C 0P8
Canada
Telephone: 204-945-4451
Cell:  
Fax: 204-945-6134
Toll-free (information):  
TTY Toll-free (hearing impaired):   
E-mail: co-ops@gov.mb.ca
Web site: http://www.gov.mb.ca/agriculture/index.shtml