News Releases

Manitoba Government Launches Renewed Business Loan Program Focused on Creating Jobs, Increasing Economic Opportunities in the North

The Manitoba government is re-opening the Communities Economic Development Fund (CEDF) Business Loan Program to support northern economic development, Economic Development, Investment and Trade Minister Jeff Wharton announced today.

“Our government is making investments to support the development of high-impact, strategic projects that will help drive growth in our province,” said Wharton. “The CEDF Business Loan Program will support key sectors of our growing northern economy and help fill financing gaps for businesses that are creating jobs and opportunities in the north.”

The CEDF Business Loan Program provides repayable loans for high-impact economic development opportunities where traditional funding may not be available. Eligible projects include:

• natural resource initiatives such as mining, forestry and commercial fishing;
• First Nations partnerships; and
• strategic infrastructure.

The minister noted loans of up to $2 million are available to business entities in northern Manitoba or Indigenous entities or partnerships that promote and/or enhance Indigenous economic development outside the city of Winnipeg.

Applicants must present business plans that demonstrate the strategic benefit of the project for the community, province or northern Manitoba, including local employment impacts, the minister said.

CEDF is the Manitoba government’s northern economic development partner and the lead agency for the delivery of the Look North report and action plan. The organization supports northern economic development by providing a reliable source of capital for business development.

“Expanded lending capacity through the business loan program provides CEDF a critical tool for the execution of the Look North Initiative,” said Chris Thevenot, CEO, Communities Economic Development Fund. “Developmental lending through CEDF over its 50-year history has provided tremendous value to Manitobans by creating jobs, supporting entrepreneurs, and developing industries in some of the most remote areas in Manitoba.”