Loan for Female Entrepreneurs

The Women’s Enterprise Centre of Manitoba is providing partially forgivable loans of up to $40,000 for women-owned businesses struggling because of COVID-19.

To qualify, your business must be at minimum 50 per cent owned by women, according to an article in the Winnipeg Free Press written by Gabrielle Piche.

The article also states if 75 per cent of the loan is paid back before Dec. 31, 2022, the remaining 25 per cent will be forgiven. If it isn’t it will convert to a three year term with an interest rate of 5 per cent.

Funds for the program have been made available through the federal government’s Regional Relief and Recovery Fund (RRRF) and Western Economic Diversification Canada.

You can check to see if your business is eligible by visiting https://wecm.ca/.

Stay tuned to our blog page for more news regarding EDP-Winnipeg businesses and COVID-19.