Micro-loans

Working capital loans provide short-term funds to cover day-to-day operations, particularly in the early stages of a business or in times of financial challenges. These loans can help manage unexpected costs, revenue fluctuations, or opportunities for growth. They’re accessible to entrepreneurs who may not meet the requirements of a traditional loan due to factors such as low credit score, lack of collateral, or limited work history.

Micro-loans are available from the Manitoba Women’s Enterprise Centre Inc., operating as WeMB. Loan applications are evaluated not only on the business concept but also the assets that you are contributing to the project, your credit, personal character, competencies, and commitment. Female/male partnerships are encouraged to apply, provided the woman owns at least 51% of the business and is actively involved in its operation and management.

• WeWork Micro-loans are available in any amount up to $25,000. Clients with existing loans may apply for additional funds, but the total amount owing cannot exceed $150,000.
• Startup interest rate is prime + 3%
• Expansion interest rate is prime + 2%
• No monthly fees
• No costs or penalties for early repayment
• Terms up to three years
• Applicants can be sole proprietors, partnerships or corporations
• Equity and collateral requirements are flexible