Frequently Asked Questions
Learn More About the
Métis Financial Corporation
Common Questions
Answers About Métis Business Loans and Funding in BC
The Métis Financial Corporation (MFC) was established in 2017 to assist Métis entrepreneurs in BC with financing to start a new business, expand an existing business or acquire an established business.
Our goal is to be Métis entrepreneurs’ financer of choice in BC and to help build Métis owned businesses.
The MFC does not offer stand-alone grants. All our eligible grant funding is in combination with a loan.
Our mandate and structure permit us to provide financing to Métis entrepreneurs that commercial lenders such as banks and credit unions may not be able to provide.
The MFC requires business plans for all loan requests.
No, you do not need to have a business plan in place before applying. When the MFC decides to move forward with the application, we will offer our business plan support.
There are many factors that contribute to why the MFC won’t continue with a loan application. Some of these factors are:
- The business appears to risky
- Not enough security
- Not enough owner equity
- The prospects of repayment are poor
- Does not meet program eligibility
Yes, we require personal guarantees for all our loans regardless of amount requested. The MFC does look for a 1:1 ratio.
We do require 10% equity minimum to contribute to the total project costs.
MFC requires a valid Metis Identification.
You are more than welcome to submit your business plan as a supporting document but any applicants that apply through the MFC must go through our business plan process. This is to ensure the process is fair and equal to all applicants.
If you go through a 3rd party for your business plan, it is not eligible for reimbursement from the MFC.
We do have an MWE program, and it is currently under relaunch. We do not have an anticipated program reopen date yet. If you are interested in being on this wait list, please email admin@mfcbc.ca
If the MFC received all required documentation along with the application, this process can take 2 months from application submission to board review and approval. The MFC does acknowledge not all projects are the same. If the application process were to exceed 2 months this would be communicated with the applicant.
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Visit our Eligibility Criteria page to learn about the requirements and find out if you qualify.
Access financing options designed specifically for Métis entrepreneurs to start, grow, or acquire businesses in British Columbia.
Visit our FAQ page for helpful information and answers to common questions about our services and the Métis entrepreneur community.