What is the Métis Financial Corporation of BC?
The Métis Financial Corporation of BC (MFCBC) 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.
What is the goal of the Métis Financial Corporation of BC?
Our goal is to be Métis entrepreneurs’ financer of choice in BC and to help build Métis owned businesses.
How much financing is available through mFCBC?
MFCBC can provide loans up to $250,000 to approved clients. Larger projects can also be considered. The ‘Game Changer’ for MFCBC is that it can now also provide grants to approved clients. Each business case is unique, and we encourage all Metis entrepreneurs to contact us to discuss their business needs.
What distinguishes the Métis Financial Corporation of BC from other lending organizations such as banks and credit unions?
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.
Is a business plan required by the Métis Financial Corporation of BC?
Yes, all applications for core financing require a business plan.
Do I need to have a business plan in place before I contact the Métis Financial Corporation of BC?
No, MFCBC will gladly work with you to find a consultant to help build your Business Plan. MFCBC can provide up to 75% of the cost of developing your business plan.
Does the Métis Financial Corporation of BC require personal guarantees to secure a loan?
Yes, MFCBC requires personal guarantees. Financing is supported by an accepted letter of offer signed by all business owners so that they are personally obligated. MFCBC may also require other security depending on specific circumstances.
Do I have to have a certain amount of equity to be eligible for a loan through the Métis Financial Corporation of BC?
Yes, a minimum of 10% equity is required; equity in the form of contributed assets (directly related to the business) may occasionally be considered.
Who is eligible to apply for loans through the Métis Financial Corporation of BC?
MFCBC requires a valid Metis Identification.