KELOWNA, British Columbia, July 28. 10, 2021 (GLOBE NEWSWIRE) — The Métis Financial Corporation BC (MFCBC) today announced a non-repayable contribution program to help Métis entrepreneurs. The Business Finance Contribution Program is a game-changer for BC Métis organization and entrepreneurs. This is the first time we have been able to offer grants under its “core funding” program. These grants are in the form of non-repayable contributions and are combined with an approved customer loan. This program will significantly reduce the cost of financing for Métis entrepreneurs. MFCBC will be able to provide these contributions on an ongoing basis and, in doing so, create a better opportunity for Métis businesses to succeed.
MFCBC CEO Evan Salter said, “It is extremely exciting for MFCBC to announce this program. We believe it offers Métis entrepreneurs and our organization an opportunity to grow successfully together. The program significantly offsets financing costs by reducing the interest payable over the term of the loan and ensuring that the business does not have to repay the full amount of financing. It is great news to be able to offer this program, as the federal government has now moved to a more distinction-based funding model that recognizes the unique circumstances of Métis entrepreneurs. »
Salter continued, “Metis candidates will always need a business plan to apply for a loan. To facilitate this process, MFCBC can cover 75% of the cost of developing a plan. At MFCBC, we want to be the place Métis entrepreneurs come to get financing and this program is another way we can help. MFCBC, as the newest Métis AFI (Aboriginal Financial Institution), has become arguably the fastest growing IFA in Canada during the COVID-19 pandemic. Our small team was able to process nearly 500 emergency loans and grants worth nearly $10 million. We know that these BC Métis Entrepreneur Loans and Grants have helped Métis businesses survive the COVID-19 pandemic.
Salter concluded, “We rightly believe that our success in delivering emergency COVID-19 funding demonstrates that we will be able to put the Business Funding Contribution Program into the hands of our dedicated Métis entrepreneurs and devoted.
MFCBC officially opened in August 2018 to serve Métis entrepreneurs in British Columbia. MFCBC provides financing for new Métis businesses or existing businesses that need financing to grow.
To learn more about MFCBC, please visit: www.mfcbc.ca or contact the MFCBC office at 1.833.399.3926 or email [email protected]