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Through the WeTech Loan program, both North Forge and WeMB will provide crucial support to overcome two of the largest barriers facing women+ entrepreneurs in tech: access to funding and strategic mentorship. North Forge’s innovative ecosystem and WeMB’s targeted financial backing aim to bridge gaps for underrepresented entrepreneurs, empowering them to launch, grow, and sustain tech ventures in Manitoba.
Purpose & Criteria
Businesses that are 51% or more owned by self-identifying women+ (cis, trans, 2S, and gender diverse) can be referred to WeMB from North Forge for a business loan up to $25,000. Projects must be market-ready (fully developed prototype) so sales can start as soon as possible, or sales have already started.
Loan Terms & Conditions
- Maximum loan term is 3 years
- Interest rate is prime plus 4%
- Interest-only payments for the first 6 months (if required)
- Loan payments are due on the 15th of each month
- There are no penalties to repay the loan early or make extra loan payments
- No loan application fees
- If the loan is approved, a 1% Loan Administration Fee (plus GST) is charged based on the approved amount. The maximum fee will be $250 plus GST.
About North Forge
North Forge is a not-for-profit tech incubator, accelerator, and state-of-the-art fabrication lab. We fuel Manitoba’s innovative science-based, technology-enabled, and advanced manufacturing startups from ideation to funding by offering unparalleled programming and resources to help startups grow. Our facilities boast one of North America’s largest publicly accessible fabrication labs (FabLab™), where startups have access to cutting-edge tools and technologies. Join a community that drives innovation and builds connections. North Forge supports your journey from concept to commercialization.