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PURPOSE SASKNATIVE ECONOMIC DEVELOPMENT CORPORATION (SNEDCO) IS A SASKATCHEWAN MÉTIS-OWNED LENDING INSTITUTION CREATED TO FINANCE THE START-UP, ACQUISITION AND/OR EXPANSION OF VIABLE MÉTIS CONTROLLED SMALL BUSINESSES BASED IN SASKATCHEWAN. SERVICES The financial services designed to serve this purpose include:
In order to be eligible for consideration of SNEDCO services, an applicant must be an individual of Métis ancestry and hold a valid membership card with the Métis Nation of Saskatchewan, or a corporation or other approved entity, controlled or owned by Métis people holding a membership with the Métis Nation of Saskatchewan. Depending on the type of service requested, other criteria may also apply.
SNEDCO PROVIDES A VARIETY OF SMALL BUSINESS LOANS TO FINANCE THE START-UP, ACQUISITION AND/OR EXPANSION OF SMALL BUSINESS. SNEDCO'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: The types of loans available include:
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. GUIDELINES & ELIGIBILITY
Q. How do I apply for a loan from SNEDCO?
Q. How much equity (downpayment) do I need to qualify for a loan?
Q. Does SNEDCO have any grants for business?
Q. I have never owned a business nor done a business plan – can SNEDCO help me?
Q. Does SNEDCO charge a fee for a business plan or financial projections?
Q. What has SNEDCO found to be common mistakes for new businesses?
All loan applications must be made on the Corporation's application form and be accompanied by:
SNEDCO'S BUSINESS ADVISORY SERVICES DIVISION PROVIDES GENERAL BUSINESS INFORMATION AND CONSULTING SERVICES AND ALSO OFFERS BUSINESS DEVELOPMENT WORKSHOPS. WORKSHOPS & GENERAL BUSINESS INFORMATION The Business Advisory Services Division (BAS) has established a resource centre at its office. BAS staff answer inquiries regarding a wide range of business topics including sources of financing, business management, marketing and business operations. Workshops are conducted for Métis people interested in developing or purchasing a business. Timing and choice of location is based mainly on the level of interest shown by communities. Workshops involve staff from other business and economic development agencies as well as from private sector financial institutions. CONSULTING SERVICES The Business Advisory Services Division provides the following consulting services:
Planning services are focused on businesses which provide employment and economic opportunities to Métis people and which show a strong probability of success. Management advisory services are focused on but not limited to businesses receiving SNEDCO financing. BAS staff work with aspiring entrepreneurs to ensure they have an in-depth understanding of business development and of the planning process. Although client skills may vary, the BAS considers it essential that its clients be very involved in all phases of the development of their business plans and documents. FEES A fee is charged when business plans or other major documents are prepared. Fees vary depending on the amount of work required. Every effort is made to assist the client to acquire contributions toward these costs from government and/or other sources.
Name of corporation and structure (individual, partnership, association, etc.) Brief history of how and why project was initiated.
General description of the project including aims and objectives.
Describe how your undertaking will generate the forecasted revenue. Describe the product to be produced or goods and services to be provided. Indicate the volume to be sold or provided, how they will be sold and to whom. Specify any contracts involved. Identify the existing competition, the primary market, the anticipated market share to be captured and the effect of this on the competition. Describe the methods of promotion to be employed, the proposed credit terms, etc.
Describe how the business will function. Identify materials or other goods or services needed, their source of supply, how and when they will be obtained and shipped, the credit terms, where inventories will be stored, etc.
Provide details of the facilities contemplated, giving location, size capacity, layout, services such as railroad, highway, etc. Describe the type of building, ownership or lease arrangements, renovations required, and construction details. Identify any furniture, fixtures or leasehold improvements required. Describe the equipment including type, function, capacity, etc.
Indicate the management positions involved and give an outline of each position. Provide personal resumes of key persons. Identify any professional and/or technical services (accountant, bookkeeper, business advisor, engineer, etc.) that may be involved in providing support to management, both in the planning/construction phase and the operation of the business.
Provide the following information; types of jobs to be performed, number and skills of employees, wage rates, whether job permanent, seasonal, full time or part time, shifts to be worked.
Jobs for which training required, how training is to be provided, cost and length of training etc.
Indicate the kind (cash, assets, etc.), amounts and source of equity to be provided. Supply personal net worth statements and/or financial statements for each of the shareholders or principals.
Identify the sources of financing for funds which will be required for the project. Has an application been made for financing? If yes, to whom? What are the expected terms and conditions of any loans, mortgages, conditional sales contracts, etc.? Include loans from relatives or associates as well as from traditional financial institutions. Identify the amount, source and conditions of any federal/provincial/municipal financial assistance expected for the project.
Indicate whether the project will cause air, water, soil or noise pollution. If so, describe the preventative measures to be employed. Have you received municipal/provincial federal approval of your plans?
Outline any significant benefits which will result from this project. For example, indicate any spinoff employment to be created that is not identified in the project. List other local businesses that will benefit from the income earned by people employed in the project.
If an existing business, provide past 3 years financial statements.
SaskNative Economic Development Corporation
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