Manitoba based entrepreneur checking her small business loan on her phone

Manitoba Small Business Loans Guide

Finding the right lender and qualifying for business loans can be a time consuming task, especially for new entrepreneurs. Sifting through a countless amount of pages with information that does not necessarily apply to your circumstances is no one's idea of a good time. That’s why we put together this Manitoba business loans guide to save you some headache. 

We put together a variety of loan options that could fit your needs, along with key points so you can easily compare the loans side by side. 

To learn more about funding for Manitoba small businesses, read our guide on Manitoba small business grants.

Startup and Business Expansion Loans

If you are looking for business financing to start your own business or expand on an existing one, these loans could be right for you. 

Manitoba Agricultural Services Corporation Loans

What loan is it?

The MASC's information hub is a website that provides details on different lending programs for Manitoba's agricultural producers. MASC provides loans and guarantees loans made by private financial institutions to support business startups and expansions into rural Manitoba. 

Direct Loan: Access to credit is an essential form of support for farmers for maintaining and cultivating their operations. This is especially so for new farmers, who might not have the credentials, experience, or collateral to secure credit from traditional financing sources. 

The Manitoba Agricultural Services Corporation is here to assist individuals with the necessary financial support to ensure the success of their operations. This loan may be used for: 

  • Purchase of agricultural land or buildings
  • Purchase of new equipment or used 
  • Improvements to land
  • Acquisition, construction, or renovation of farm production buildings
  • Purchase, renovation, or construction of on-farm homes
  • Acquisition of breeding livestock
  • Purchase of dairy and poultry supply-managed quota 
  • Refinancing or debt consolidation
  • Purchasing or renovating nurseries and greenhouses
  • Operating costs

Loan Guarantees: In partnership with participating financial institutions, MASC helps provide rural Manitobans with access to credit with reasonable interest rates and terms.

This partnership provides agricultural producers with opportunities to develop and expand their operations, by encouraging financing that the private sector generally considers to be higher risk.

MASC guarantees agricultural loans for the purposes of diversifying operations (Diversification Loan Guarantees), livestock association financing (Manitoba Livestock Associations Loan Guarantees), and obtaining lines of credit with reasonable terms (Operating Credit Loan Guarantees).

Stocker Loans: The MASC's program offers short-term financing for producers who purchase feeder cattle and lambs, or retain owned calves and lambs for feeding.

Loan amount and repayment terms 

Direct Loan: Loans of up to $3.5 million are available for all borrowers, with fixed interest rates for the full life (amortization) of the loan. Direct Loans can be renewed every 1 to 5 years. Most Direct Loans have repayment terms of up to 25 years, with monthly, quarterly, or semi-annual payment options.

Loan Guarantees: The loan amount and repayment terms will depend on the specific financial institution. 

Stocker Loans: The maximum amount for a Stocker Loan is $500,000. Interest sits at MASC's 1-year term rate (2.875%), while 12 months loans use the 2-year rate (3.25%) 

How to qualify 

Direct Loan: Qualified applicants include individuals, joint farm units, partnerships, cooperatives or corporations. Individuals must be 18 years of age or older, a Manitoba resident, and a Canadian citizen or a permanent resident. Additionally, the farm must be viable and meet security requirements, and the applicant must personally operate the farm to which the loan is being applied.

Loan Guarantees: 

  • Diversification Loan Guarantees: Projects considered eligible for the DLG program must comply with laws concerning the environment, and any buildings or improvements associated with the project must comply with land use control laws.
  • Manitoba Livestock Associations Loan Guarantees: MASC guarantees loans to feeder and breeder associations.
  • Operating Credit Loan Guarantees: The OCG program guarantees loans that can be used for general farm expenditures, living expenses, current year's principal and interest payments on existing loans, and in cases of emergency, limited capital purchases.

Stocker Loans: Cattle must possess a minimum weight of 400 lbs (181 kg) for eligibility of the Stocker Loan. While weaned lambs must possess a minimum weight of 45 lbs (22.5 kg).

There are 10 ARD and MASC Service Centres located throughout Manitoba. To find the nearest, click the link and allow location services in your browser.

CDEM Business Support Service for Francophones

What loan is it?

CDEM provides a large assortment of services to Francophone and Francophile businesses who want to add value to Manitoba’s growing economy through bilingualism. CDEM offers experienced business advisors to help applicants complete all necessary steps involved in starting and operating a business.

They will also assist you with developing a professional business plan that illustrates the requirements of financial institutions and will help secure further funding. 

The objectives include:

  • Helping you access the best conditions possible when you are seeking to obtain financing;
  • Helping you diversify your funding sources and leverage them in order to obtain all the financing you need;
  • Providing you with useful and pertinent information on programs available; and
  • Giving you advice on the programs that can best meet your needs.

Loan amount and repayment terms

The CDEM offers an investment fund that provides capital to Francophone-run Manitoba businesses to support their start-ups, and expansion or diversification plans. The CDEM partners with Western Economic Diversification and the Business Development Bank of Canada to manage the risk capital fund for francophone businesses in Manitoba.

How to qualify

To be eligible for the CDEM’s Investment Fund, a business must check the following:

  • Is owned by one or more Francophones, with ownership of at least a 50% interest in the business
  • Operates or is establishing operations in Manitoba
  • Possess a reasonable business plan that illustrates the potential of the business for commercial viability and ability to repay the loan 
  • The applicants must prove that they explored all other reasonable methods of obtaining financial support and that they were unable to obtain such support

To speak with a financial and business advisor call 204 925-8828 or email 

Minority Based Entrepreneur and Business Loans

These loans were created by lenders to foster growth in minority groups. By providing minority groups in Manitoba with the necessary tools they are given a chance to grow their startups or existing businesses. 

Women’s Enterprise Centre of Manitoba Loan

What loan is it?

The Women’s Enterprise Centre of Manitoba Loan was created to promote the expansion and/or purchase of an existing business. Applicants will be evaluated on business concept, assets contributed to the project, credit score, personal character, competencies and commitment. Female/male partnerships are encouraged as long as the woman owns 50% of the business and is actively involved in operations. 

These loans can be used for:

  • Leasehold improvements
  • Marketing and advertising expenses
  • Acquisition of an existing business
  • Purchase of inventory or equipment 
  • One-time or part-time projects must be evaluated case-by-case

Loan amount and repayment terms

Loan details include: 

  • Loans amounts of up to $150,000, including clients with existing loans, as long as the additional funding does not exceed $150,000
  • Start-up interest rate of + 3%
  • Expansion interest rate of + 2%
  • Zero monthly fees and zero penalties for early repayment
  • Terms up to five years
  • Applicants can be sole proprietors, partnerships, or corporations
  • Flexible equity and collateral requirements

How to qualify

Applicants do not need to be existing clients of Women’s Enterprise Centre of Manitoba clients. However, all applicants must demonstrate: 

  • A minimum of three years of profitable operation, as verified through financial statements professionally prepared by an accountant.
  • A business plan and one-year projection of monthly cash flow and profit/loss statements - additional projections may be requested for long-term projects
  • A business case illustrating the existing business’s operations, expansion details and a viability analysis
  • Complete loan application forms and personal statement of affairs documents, including a normal credit investigation
  • Detailed listing of accounts payable, aged accounts receivable, and inventory on request

To apply contact or call 204-988-1860. 

LRCC Metis-Owned Business Loan

What loan is it?

The LRCC Metis-Owned Business Loan offers a range of small business loans to provide financing for start-ups, acquisition and/or expansion of small business.

LRCC's financial services are offered on the basis of insightful and astute business principles and practices so as to protect the integrity of its capital base and to ensure the continued delivery of its services. 

For a comprehensive list of frequently asked questions see this document. 

Loan amount and repayment terms

LRCC offers a maximum loan of $250,000. However, they have the ability to co-lend with another Metis financial institution for loans up to $500,000. Loans above this amount are considered on a case-by-case situation.

Every loan must go through a risk score, based on various factors including credit history, financial performance, market risk, security, personal net worth, and debt serviceability. Rate and payment terms are finalized upon the loan's arrival.

How to qualify

Businesses must be registered in Manitoba. Ownership must be at least 51% Metis owned with valid MMF Citizenship Card(s). These Metis owner(s) must also reside in Manitoba.

Additional requirements include:

  • 10% equity towards the project 
  • LRCC will work with Metis citizens with past credit issues. There is no minimum credit score required to access credit, however, it is a vital factor in assessing the risk of any project. (staff may help in advising on how to raise credit score) 
  • LRCC generally requires loans are secured with assets valued at least 75% of the amount of the loan, using securities such as real estate, vehicles, machinery/equipment, and non-registered investments (a combination of personal and commercial assets can be used if necessary). 
  • If the loan is for a corporation then personal guarantees are required by all principal owners 
  • All principal owners of the company are required to obtain life insurance assigned to Louis Riel Capital, covering the amount of the loan. LRCC has the ability to provide life insurance for up to $100,000.00, however, anything above this will need to be secured by a third-party provider. 

Before you start your application process contact the LRCC to discuss detail at 204-589-0772 or email 

Manitoba First Nation Entrepreneurs Loan

What loan is it?

The Manitoba First Nations Entrepreneurs Loan program aims to foster the development of Manitoba First Nation entrepreneurs by assisting with capital and/or working capital through the use of subordinated interest-free loans.They are intended to enhance the applicant's ability to leverage financing from other institutions and agencies. 

Loans can be used for the following purposes: starting a business, acquiring an existing business, or expanding an existing business. Such loans are meant to supplement financing from other sources, and cannot be used for refinancing purposes or the repayment existing debt.

Loan amount and repayment terms

Loans are offered at a maximum amount of $200,000 per project, or 50% of the fair market value of the total project costs, as identified in the project costs portion of the application. Loan repayment happens over a term that does not exceed 10 years, with buildings not to exceed 20 years.

How to qualify

Businesses that obtain funding under this program must:

  • Have a profit objective - not-for-profit projects are not eligible
  • Provide a business plan that demonstrated viability
  • Be considered reputable and appropriate 
  • Primarily operate within Manitoba
  • Be at least 51% owned by a member of a Manitoba First Nation

Applicants also must: 

  • Be a member of a Manitoba First Nation that either lives on or off reserve within the province
  • Be 18 years of age or over, and eligible to work in Canada
  • Provide a viable business plan 
  • Not have owned a similar company in the last year
  • Contribute equity equal to a minimum of 5% of the total project costs. Higher risk businesses must provide larger equity contributions. If this is necessary, the applicant's equity contribution can be:
  • Cash or unencumbered business assets supported by purchase invoices or other appropriate documentation illustrating the fair market value

If you have any questions about your application or eligibility you may contact The First Nation Business Community. Be sure to be as detailed as possible with your queries and fill out all the sections.

Entrepreneurs with Disabilities Program (EDP)

What loan is it?

The Entrepreneurs with Disabilities Program (EDP) provides business services to individuals with disabilities or health conditions that are interested in starting a business in rural Manitoba. They also provide one to one business consultation and assistance in creating a business plan. So if you are planning to start a business or already have a business, professionals can meet with you to discuss your needs and objectives. 

Loan amount and repayment terms

The EDP can direct you to available resources and business training with their offices or in the community.

Community Futures organizations offers financial support to small and medium sized businesses.

How to qualify

This program is open to anyone a who has a disability or a health condition and possess a viable business idea.

For more information on these programs call: 1-888-303-2232 or email

If you are in need of Manitoba business loans, consider using QuickBooks Online to help  manage your finances and generate the financial reports you need to successfully apply for funding. You will easily be able to see the last date modified to see if any of your reports need updated information to meet specific loan requirements. Start your free trial today.

Looking for something else?

Get QuickBooks

Smart features made for your business. We've got you covered.

Firm of the Future

Expert advice and resources for today’s accounting professionals.

QuickBooks Support

Get help with QuickBooks. Find articles, video tutorials, and more.