Loan Applications and Business Plan Workbook
1. Applicants must be a Metis Settler, or a Partnership or a Corporation in which at least 51% is owned by a Metis Settler.
2. The head office of any Corporation must be located in the Province of Alberta. Business activities may be undertaken, both on and off the Settlements and need not be limited to the Province of Alberta.
3. Loans must be for business purposes (Commercial) or for farming (Agriculture).
Loans of a personal nature will be deemed ineligible.
4. The corporation will decide on a case by case basis the extent of owner's equity required on a project. The minimum owner's equity required is 10% based on a cash injection on a capital purchase; however if cash is unavailable SIC will accept equity in a form of collateral at a rate of 115%.
5. Maximum loan amounts for Commercial Ventures is set at $250,000.00.
6. Maximum loan amounts for Agriculture Projects is set at $150,000.00.
** PLEASE NOTE THE FOLLOWING FEES:
(a) A $125.00 NON REFUNDABLE APPLICATION FEE TO BE SENT WITH THE APPLICATION. (THIS FEE MUST BE RECEIVED BEFORE ANY PROCESSING WILL TAKE PLACE).
(b) WHEN YOUR APPLICATION IS APPROVED AN ADDITIONAL $100.00 FEE IS TO BE PAID FOR ALL LOANS UP TO $10,000.00 (TO BE PAID PRIOR TO ANY LOAN FUNDS BEING DISBURSED).
(c) FOR LOANS GREATER THAN $10,000.00 YOU WILL BE CHARGED AN ADDITIONAL FEE OF 1% OF TOTAL FUNDS BORROWED LESS THE INITIAL $125.00 APPLICATION FEE (TO BE PAID PRIOR TO ANY LOAN FUNDS BEING DISBURSED).
FOR FURTHER ASSISTANCE OR INFORMATION PLEASE CONTACT:
SETTLEMENT INVESTMENT CORPORATION
Commercial Loan Application
Agriculture Loan Application
SIC Business Plan Outline
MEAP Grant Application
Other helpful resources:
Aboriginal Finance Options in Alberta
How to Become an Independent Contractor
Small Business Equity Program (Apeetogosan)