Programs and Services

Micro-loan Program

The micro-loan program is an initiative of the Conseil économique et coopératif de la Saskatchewan (CÉCS) intended to help small and medium businesses and to stimulate the creation of businesses in the community.

Who can get a loan?

  • You must have been a resident of Saskatchewan for at least 6 months prior to the date you apply to the program and be a member in good standing of the Conseil économique et coopératif de la Saskatchewan.
  • Applicants under the age of 18 must have a parent or adult co-sign to approve the loan.
  • Applicants must be majority owners of the business (own at least 51% of shares in the business).

Conditions of the Micro-loan Program

The program makes loans to a maximum of $5,000 per business or individual to finance the following:

  • Purchase of equipment
  • Improvements to rental property(renovations)
  • Purchase of inventory (stock)
  • Cost of incorporation (administration)
  • Research and development
  • Working capital

Expenditures for licensed vehicles, refinancing of existing debt, and repayment of previous debt are not eligible under the program. The loan will be interest-free for the first three months. Repayment terms are flexible, to a maximum term of five years, and the interest rate will be fixed for the term of the loan. A cheque for $60, made out to the Ministry of Finance, must accompany all loan applications, to cover administrative costs of the program.

How to Apply

  • Fill out the loan application.
  • Complete a business plan.
  • Sign the documents required to receive financing.

If you are interested in the micro-loan program, contact one of our Economic Development Advisors to assess your financial needs and determine your eligibility for the program.

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