Access to credit can be difficult for any small business, but is especially difficult for entrepreneurs wanting to start up or expand their business. Through innovative government and community partnerships, ACU is able to provide flexible sources of credit for small and micro-enterprises that have a sound business plan but don’t meet the criteria for conventional financing.

ACU Micro-Loan Program:

In partnership with Western Economic Diversification Canada (WD), ACU provides loans of up to $35,000, and flexible terms, to entrepreneurs, small businesses and for-profit social enterprises that meet the following criteria:

• ACU member in good standing
• Operating, or about to operate, in the Winnipeg area
• Less than 50 employees and average annual sales not exceeding $1 million
• Demonstrate a commitment to starting or expanding a small business

In October 2006, WD and ACU renewed their partnership. Over the next four years, WD will provide up to $560,000 towards loan loss support to offset ACU’s credit risk. With that support, ACU will make up to $3.58 million available in repayable loans.

Manitoba Business Start Program:

This is a Manitoba Government loan guarantee program with an educational component. ACU provides loans of up to $20,000 to new owner-managed businesses that meet program criteria which include:

• Applicants must be Manitoba residents, develop a sound business plan, complete a three-day Business Planning Workshop, and contribute equity equal to 40% of the loan amount requested.
• The new business must operate in Manitoba, be created to make a profit, have less than 20 employees and less than $2 million per year in gross sales, and employ the applicant for a minimum of 20 hours per week on average.

Learn more about this program on the Manitoba government Business Start Program page.

Rural Entrepreneurial Assistance Program:

The Manitoba Government loan guarantee program benefits small and home-based businesses located in Manitoba, outside of Winnipeg.

ACU provides loans between $10,000 and $200,000 for new business starts and expansions and for the purchase of existing businesses. To be eligible, the business must have $1.5 million or less in annual income/sales and the applicant must contribute 20% of the total cost in the form of cash or other assets.

Learn more about the Rural Entrepreneurial Assistance program on the Manitoba Agricultural Services website.

SEED Winnipeg Loan Fund:

ACU partners with SEED Winnipeg to provide access to credit for participants of their Build-a-Business Program.

SEED Winnipeg offers a business management training program for individuals living on low income and supports them to complete a business plan. With a sound business plan, those in need of financing are referred to ACU for micro loans to get started.

ACU employees also provide knowledge-building seminars for Build-a-Business participants.