The SIEF Contribution Program is a needs based program with a mandate to create jobs and to increase the economic well-being of First Nations people. The program is designed to support: Business start-ups, business acquisitions, or expansions to existing businesses.
Funding for projects is completed in a two stage process. Stage one is the application form to determine eligibility and to have business plan completed by a business plan writer. Stage two requires a comprehensive business plan that should include 3 year projected financials to be submitted for further consideration; that demonstrates the long-term viability of the proposal and the ability to create jobs.
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 projects costs for individual applications and up to a maximum of $250,000.00 of total project costs for community or band owned enterprise applications.
To be eligible for the program, clients and their business must be based in Saskatchewan and: a registered Status Indian, a majority owned First Nations business/financial organization, or a development corporation.
All applications require a minimum of a 10% cash equity contribution from the client. All applicants must secure a business loan from a financial institution for a percentage of their project cost. The SIEF Contribution Program assistance can support business development, capital and operating, marketing, and on-going business support costs.
The following business activities are ineligible for support:
- 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.