Supplementary Equity Loans Program

The Supplementary Equity Program provides equity loans to increase the viability of new and existing businesses.  These loans can be used to improve access to the Aboriginal Business Canada programs and other public and private financing programs and institutions.

Through the Supplementary Equity Program, SNEDCO will assist an entrepreneur or corporate business to acquire part of the equity requirement to qualify for regular loans from the Corporation and/or other financial institutions.  These loans can be for amounts up to a maximum of $40,000 per applicant.  The maximum term for repayment is 5 years.

Eligibility Criteria

• This program is available only to Métis people of Saskatchewan who lack the financial resources to raise the equity necessary for success.
• Applicants must own at least 51% of the business.
• Applicants will be required to use a SNEDCO application form accompanied by:
   1.  Personal Financial Statement for each owner or participant of the business.
   2.  Copy of their membership card with the Métis Nation - Saskatchewan
   3.  Letter of reference from the president of their local confirming their Métis status.
   4.  Written business plan.
  
• The business and management must be highly viable and demonstrate the potential for profitability.
• Applicants must demonstrate commitment and be actively involved in day-to-day operations.
• Applicants must have some equity in the business in the form of cash and/or contributions of land, existing equipment and machinery, or pledging of personal assets.

Saskatchewan Contact(s):
SaskNative Economic Development Corporation (SNEDCO)
108 - 219 Robin Crescent
Saskatoon, Saskatchewan  S7L 6M8
Telephone: (306) 477-4350
Fax: (306) 373-2512
E-mail: snedco@sk.sympatico.ca