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