Assiniboine Credit Union Micro Loan Program

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Western Economic Diversification Canada (WD) and Assiniboine Credit Union (ACU) jointly offer the Assiniboine Credit Union Micro Loan Program.

Who is eligible?

The Assiniboine Credit Union Micro Loan Program is specifically designed to benefit entrepreneurs, small businesses and social enterprises meeting the following criteria:

• Assiniboine Credit Union member in good standing
• Operating, or about to operate, in the Winnipeg area
• Less than 50 employees and average annual sales not exceeding $1 million

To be eligible, interested applicants must clearly show a commitment to starting or expanding a small business. This may involve demonstrating a significant time commitment to the start-up or management of the business and some financial stake in the potential or existing business.

What can the loans be used for?

The Assiniboine Credit Union Micro Loan Program provides access to loans for small business start-up and expansion in the Winnipeg area as well as social enterprises. This could include activities such as:

• Research and development leading to commercialization
• Pre-commercial and commercial product development
• Market development
• New product and services capacity
• Working capital

What are the terms of the loans?

The loan terms are designed to be flexible to help small businesses maintain adequate cash flow throughout the year. Individual loans are subject to the following terms:

• Up to five years for repayment
• Loans can range to a maximum of $35,000
• Flexible repayment terms at ACU’s discretion
• Assiniboine Credit Union makes the final decision on all loan approvals
• Interest rates are set at Assiniboine Credit Union’s Prime rate* plus a risk premium

*The Assiniboine Credit Union Prime rate fluctuates with market interest rates

How can I apply?

For information on the Assiniboine Credit Union Micro Loan Program, or other programs and services available through Assiniboine Credit Union visit their website or contact their offices at:

Assiniboine Credit Union
Business and Community Financial Centre
200 Main Street
Winnipeg, Manitoba R3C 2G1

What other services may I be eligible for through Western Economic Diversification Canada?

With over 100 points of service in urban and rural communities across the West, the Business Service Network is made up of several integrated organizations that provide entrepreneurs with what they need to establish a business or make it grow.

Network partners work at the local level to ensure western Canadians have direct access to information on a wide range of financing alternatives, which will help determine your eligibility for services that best suit your needs. They offer various services from marketing and funding options to counselling and support. For more information on the services our network provides and the network member nearest you, please visit WD’s Business Service Network.