Manitoba Agricultural Services Corporation

Eligibility

The program is available to businesses located in Manitoba, outside of Winnipeg. Small businesses with ${program_details::max_sales} million or less in annual income/sales are eligible. Applicants must contribute {program_details::applicant_contribution}% of the total project cost in the form of cash, land, buildings, equipment, inventory and/or other assets that would be used in the business.

Businesses not eligible include: insurance, real estate, financial, professional and consulting services and restaurants, those engaged in primary harvesting of resources, primary agriculture or those intending only to renovate or make cosmetic changes to buildings.

Details

Loan Maximum

Under REA, the Province will guarantee individual business loans between $10,000 and $200,000.

Interest Rate

These loans are offered by participating lenders for up to {program_details::max_term}-year terms at an interest rate of prime + {program_details::rate_add}%. If a fixed rate is preferred, the rate will be determined as negotiated between the borrower and lender.

Contact

Applicants should make an appointment with a participating lender, or contact MASC's REA Program Specialist. An application form is completed and submitted along with a business plan and application fee of ${program_details::application_fee} to the lender.

Applicants must register and attend a free business education seminar. Applicants must report to the REA Program Specialist annually and advise of any significant changes.