Métis Emergency Capital Assistance Program
Available until September 30, 2020.
In response to the COVID-19 crisis, SaskMétis Economic Development Corp. (SMEDCO) has taken multiple steps to provide positive programming for Métis business owners impacted by Covid-19. SMEDCO is offering the Métis Emergency Capital Assistance Program (MECAP) through support from the Métis Nation – Saskatchewan and the Federal Government of Canada.
The MECAP was designed as an emergency capital injection to support small business owners in meeting their immediate operating cash flow needs.
The program maximum is up to $40,000 comprised of a 75% ($30,000) loan and 25% ($10,000) non-repayable contribution. Loan and contribution are issued together.
- The repayment term of $30,000 based on March 31, 2025, mandated deadline;
- 0% for the entire term;
- Option to defer payments up to the first 12 months from disbursement date;
- Repayments begin in month 13 and are fully amortized over the remainder of the term;
- Repayment will be over approximately 48 months to keep your payments as low as possible;
- NO prepayment penalties or terms;
Basic Guidelines & Eligibility
- Must own and operate an existing business in the Province of Saskatchewan with the majority of the ownership resting with a Métis individual or Metis community (for profit) before COVID Emergency was declared;
- Must submit your 2019 annual financial statements or Tax return (if a sole proprietor);
- Must submit evidence of Métis ancestry (New MN-S Card or Self-Declaration) and copy of your Driver’s License,
- Must not have received the Canadian Emergency Business Account (CEBA)
Please click the link below to download the Metis Emergency Capital Assistance Program Application form.