MASC - Loan Guarantee Programs - Rural Small Business Operating Credit Guarantee

Operating Credit Guarantees for Rural Small Business provide a guarantee on operating lines of credit of up to $200,000 with participating private lending institutions. This can be used for purchase of inventory, financing of receivables, general operating expenses, and the current year’s principal and interest payments on business loans identified at the time of application.

Eligibility Criteria

• Applicants must be 18 years of age or older;
• Applicants must be residents of Manitoba and a Canadian citizen or lawfully admitted to Canada for permanent residency;
• Applicants must be the owner-operator or majority shareholder of the business (with at least 20% equity);
• The business must be located in rural Manitoba (outside of Winnipeg), and must provide full-time employment for at least one individual (1,500+ hours of employment per year); and
• The business must have annual sales or income of less than $2 million.

Summary

There is no minimum line of credit to be guaranteed. The maximum loan amount that will be guaranteed is $200,000. The maximum interest rate that can be charged for an RSB loan guarantee is commercial prime + 2%.

Manitoba Contact(s):
Lending Corporate Office
Manitoba Agricultural Services Corporation
Unit 100 - 1525 First Street S.
Brandon, Manitoba  R7A 7A1
Telephone: 204-726-6850
Fax: 204-726-6849
E-mail: brandon.lending@masc.mb.ca
Web site: http://www.masc.mb.ca/