COVID-19 Emergency Response Loans
New MFCBC COVID-19 Business Emergency Loans Program
New Applicants are Now Eligible for up to $60,000 with up to $20,000 forgivable. Métis entrepreneurs who have already received a COVID-19 emergency loan from MFCBC can also apply for a ‘Top Up Loan’ of up to $20,000 with up to $10,000 forgivable.
These are difficult times for all Métis entrepreneurs, particularly those who are not eligible for some of the emergency response benefits announced to date. MFCBC is now able to provide support to Métis entrepreneurs in BC during these unprecedented times through our COVID-19 Emergency Fund.
MFCBC initiated a Covid-19 Emergency Loans program earlier this year and approved over 165 emergency loans worth almost $5 million.
The new loan programs provide additional financial relief to Métis entrepreneurs around BC.
“Our goal with these new loan programs and the new grant programs we recently announced is to leave no Métis business behind. 2020 was a tough year on everyone but especially on business owners and those thinking about starting a new business. The restrictions required to combat the COVID-19 pandemic meant reduced business in very sector. The emergency loan programs initiated early-on in the pandemic and more recently the new grant and loan programs have been a lifesaver for many Métis entrepreneurs. These new programs are also a ‘Game Changer’ for MFCBC as they represent a solid vote of confidence from the federal government in our ability to respond quickly and support Métis entrepreneurs in BC. We look forward to continuing to provide services to Métis entrepreneurs in 2021 as we all benefit from the COVID-19 Economic Recovery Plan in BC.” – Evan Salter, CEO
These loans are available to Métis-owned and controlled businesses located in British Columbia.
*subject to review and approval by MFCBC
- Up to $60,000 per business
- All Funding will be comprised of a contribution and a repayable loan
- All new loans will be payment-free and interest-free for the entire first year
- Loans will remain interest-free for the entirety of the program
- Businesses have until 2025 to repay loan
- There are no payroll requirements with this program
The application form can be accessed by contacting us directly. It requires information about how your business has been impacted by COVID-19, how you plan to resume operations/recover, and your business’ financials. We’re here to help you every step of the way, and are happy to help you fill out your application form should you have any difficulties.