Departments, Portfolios and Affiliates

Louis Riel Capital Corporation

Ministers: Anita Campbell, Jack Park, Leah LaPlante
Board Members: Jim Bruce, Gerald Barron

Overview

The Louis Riel Capital Corporation (LRCC) is a non-profit Manitoba Metis owned and controlled Aboriginal Capital Corporation (ACC) established in the fall of 1992. The LRCC has grown to become one of the most successful ACCs in the country.

LRCC's mission statement is: "To assist and further the development of Manitoba Metis business enterprise through the provision of financial and related advisory services." The LRCC's primary activity is providing developmental loan capital to Metis entrepreneurs for the acquisition, start-up and/or expansion of Metis owned or controlled businesses. The financing we provide is a fixed rate term loan, with a range of rates starting at 7.25 per cent to a maximum of 14.25 per cent. The interest rate is assessed based on risk and security available. Our interest rate structure is very competitive with bank and credit union fixed rate financing. The fixed rate term loans we offer can be amortized to a maximum of ten (10) years, based on the life expectancy of the assets we are financing and/or the type of security available. WE will also entertain loan requests for working capital and short term financing projects (bridge loans).

LRCC's expanded website, www.lrcc.mb.ca, includes a self-registering Metis Business Directory which can be populated, managed and maintained by the business owner. At this time, there are approximately 250 businesses registered in the LRCC business directory. The directory will aid the MMF and LRCC in their procurement strategy to better utilize Metis businesses in the acquisition of services and products. The Metis Business Directory will also assist the public, other corporations and government in sourcing Metis businesses and services. One of the features of the Business Directory is that you can search for businesses by name, industry or region.

We encourage all aspiring Metis entrepreneurs, as well as existing Metis business owners, to contact us directly to learn how LRCC can help you get started or add value and support to your business, including registering your business in the LRCC Business Directory.

Effective March 2013 - LRCC Launches Non-Repayable Contribution (Grant) Program for Businesses

LRCC received $1.8 million for fiscal 2013 - 2014 from the Federal Government Aboriginal and Northern Development Canada (AANC) to deliver a Non-Repayable Equity Contribution Program to people and businesses of Metis, Non-Status Aboriginal and Inuit ancestry. The business must be Metis, Non-Status or Inuit owned and controlled. The program may also include Metis community owned business, which may be eligible for a non-repayable equity contribution (grant) to start-up, expand or modernize a business. This funding will contribute up to 40% of capital costs, 60% of marketing costs and 75% for business support for such things as having a business plan consulting and preparation. The maximum funding which can be invested into a for-profit Metis business is $99,999.00 and up to $250,000 for Metis community owned businesses. An applicant must be able to contribute 10% equity in the form of cash. A commercial loan of 60% of the costs is required. All applicants must have proof of their Metis, Non-Status or Inuit heritage such as a MMF membership card, Metis Harvester card, a recognized aboriginal affiliation card and/or a genealogy documenting your ancestry. An application is required along with a business plan that can evidence commercial viability. The applicant must work in the business full-time with the business demonstrating the ability to pay the owner/applicant a reasonable level of income.

Metis, Non-Status and Inuit people are eligible to apply.

Ineligible project include bars, gambling (VLT's), pawnshops, payday loans and tobacco businesses.

340 - 150 Henry Avenue
Winnipeg, Manitoba R3B 0J7
Phone: 204-589-0772
Fax: 204-589-0791
MB Toll Free: 1-800-387-6004
LRCC website: www.lrcc.mb.ca
Email: info@lrcc.mb.ca