The SIEF Contribution Program is a needs-based, conditional grant program for First Nation entrepreneurs and businesses.
The program has a mandate to create jobs and to increase the economic well-being of First Nations people.
The SIEF Contribution Program is designed to support:
- starting a new business,
- acquiring an existing business, or
- expanding a current business.
Financial assistance from the SIEF Contribution Program can support business development, capital and operating, marketing, and on-going business support costs.
The SIEF Contribution Program is in the form of a conditional non-repayable financial contribution up to:
- a maximum of $99,999.00 of total project costs for individual applications and
- a maximum of $250,000.00 of total project costs for community- or band-owned enterprise applications.
Eligibility requirements for the SIEF Contribution Program
To be eligible for the SIEF Contribution Program, clients and their business must be based in Saskatchewan and:
- a registered Status Indian
- a majority owned First Nation business/financial organization, or
- a development corporation.
All applications require a minimum of a 10 per cent cash equity contribution from the client.
All applicants must secure a business loan from a financial institution for a percentage of their project cost.
Funding for projects through the SIEF Contribution Program is completed in a two-stage process.
This stage involves completing an application form to determine eligibility and to have a business plan completed by a business plan writer.
The second stage requires a comprehensive business plan that should include three-year projected financials to be submitted for further consideration. That demonstrates the long-term viability of the proposal and the ability to create jobs.
Projects ineligible for the SIEF Contribution Program
The following business activities are ineligible for support from the SIEF Contribution Program:
- Direct alcohol production, marketing, distribution or sales.
- Tobacco production, marketing, distribution or sales.
- Games of chance operations, casinos, bingo halls, small scale gaming operations, etc.
- Sexually exploitive materials, services, products, marketing, distribution and sales, including any web-based activities.
- Pawn shops, cheque cashers, finance companies and others, making small, short-term, high interest rate loans that go by a variety of names: payday loans, cash advance loans, cheque advance loans, post-dated cheque loans or deferred deposit cheque loans.
- Passive investments (real estate) or any other activity where the applicant is not fully involved.
- Manufacturing, assembly and/or enhancement of firearms.
Please contact a Business Development Officer for an application.