Loan Programs

Loan Programs

SMEDCO offers a variety of loan programs, with loans starting at 7.5% and a lending limit of $500,000.

Direct Capital Loans
Shared or Syndicated Loans
Bridge Loans
Working Capital Loans

 

Direct Capital Loans

SMEDCO’s financial services are extended and delivered on the basis of prudent and sound business principles and practices so as to protect the integrity of its capital base and to ensure the continued delivery of its services. As resources are limited, the Loan Program is often used to lever financial assistance from other public and private sources:

Direct Capital Loans – for projects which are basically sound but where, because of risk or other factors, no other funding sources will provide loans.

APPROVAL CRITERIA

  • The project must be Métis owned or controlled;
  • At least 2/3 of the positions to be created must be filled by Métis people;
  • The project should be feasible in its proposed location (the needed infrastructure and support services are available or can be obtained at a reasonable cost);
  • The project is viable in that is has the potential to produce income which will cover operating costs, a reasonable income for the owner, loan repayment and has long-term potential for profitability;
  • The applicant(s) have proven ability to effectively manage a business or have the required knowledge and skills to manage a business.
  • Applicants must reside in Saskatchewan and the applicants’ business shall be based in Saskatchewan.
  • Maximum financial assistance available to any business is generally limited to 10% of SMEDCO’s undisbursed capital base.
  • Conflict of Interest and Self-dealing Guidelines prevail.

 

Shared or Syndicated Loans

SMEDCO’s financial services are extended and delivered on the basis of prudent and sound business principles and practices so as to protect the integrity of its capital base and to ensure the continued delivery of its services. As resources are limited, the Loan Program is often used to lever financial assistance from other public and private sources:

Shared or Syndicated Loans – For very large projects SMEDCO may “share” the loan with other lenders.

APPROVAL CRITERIA

  • The project must be Métis owned or controlled;
  • At least 2/3 of the positions to be created must be filled by Métis people;
  • The project should be feasible in its proposed location (the needed infrastructure and support services are available or can be obtained at a reasonable cost);
  • The project is viable in that is has the potential to produce income which will cover operating costs, a reasonable income for the owner, loan repayment and has long-term potential for profitability;
  • The applicant(s) have proven ability to effectively manage a business or have the required knowledge and skills to manage a business.
  • Applicants must reside in Saskatchewan and the applicants’ business shall be based in Saskatchewan.
  • Maximum financial assistance available to any business is generally limited to 10% of SMEDCO’s undisbursed capital base.
  • Conflict of Interest and Self-dealing Guidelines prevail.SMEDCO’s financial services are extended and delivered on the basis of prudent and sound business principles and practices so as to protect the integrity of its capital base and to ensure the continued delivery of its services. As resources are limited, the Loan Program is often used to lever financial assistance from other public and private sources

 

Bridge Loans

Bridge Loans – short term loans available to bridge external financing that is committed but pending disbursement.

APPROVAL CRITERIA

  • The project must be Métis owned or controlled;
  • At least 2/3 of the positions to be created must be filled by Métis people;
  • The project should be feasible in its proposed location (the needed infrastructure and support services are available or can be obtained at a reasonable cost);
  • The project is viable in that is has the potential to produce income which will cover operating costs, a reasonable income for the owner, loan repayment and has long-term potential for profitability;
  • The applicant(s) have proven ability to effectively manage a business or have the required knowledge and skills to manage a business.
  • Applicants must reside in Saskatchewan and the applicants’ business shall be based in Saskatchewan.
  • Maximum financial assistance available to any business is generally limited to 10% of SMEDCO’s undisbursed capital base.
  • Conflict of Interest and Self-dealing Guidelines prevail.

 

Working Capital Loans

SMEDCO’s financial services are extended and delivered on the basis of prudent and sound business principles and practices so as to protect the integrity of its capital base and to ensure the continued delivery of its services. As resources are limited, the Loan Program is often used to lever financial assistance from other public and private sources:

Working Capital Loans – demand loans to finance a portion of start-up or working capital requirements such as advertising, inventory and receivables.

APPROVAL CRITERIA

  • The project must be Métis owned or controlled;
  • At least 2/3 of the positions to be created must be filled by Métis people;
  • The project should be feasible in its proposed location (the needed infrastructure and support services are available or can be obtained at a reasonable cost);
  • The project is viable in that is has the potential to produce income which will cover operating costs, a reasonable income for the owner, loan repayment and has long-term potential for profitability;
  • The applicant(s) have proven ability to effectively manage a business or have the required knowledge and skills to manage a business.
  • Applicants must reside in Saskatchewan and the applicants’ business shall be based in Saskatchewan.
  • Maximum financial assistance available to any business is generally limited to 10% of SMEDCO’s undisbursed capital base.
  • Conflict of Interest and Self-dealing Guidelines prevail

Address

  • SaskMétis Economic Development Corporation
  • Suite 101 - 1630 Quebec Avenue
  • Saskatoon, S7K 1V7
  • Phone: (306) 477-4350
  • Fax: (306) 373-2512
  • smedco@smedco.ca