SaskMétis Economic Development Corporation (SMEDCO) announces its Community COVID-19 Business Fund in partnership with Indigenous Services Canada (ISC) has been re-capitalized.
A total of $5.9 million dollars is now available for Métis owned microbusinesses and community owned businesses.
The funding is non-repayable funding and its intent is to relieve financial pressure and strengthen operation to support their viability during the pandemic with the goal of positioning these businesses for recovery.
People who have accessed other business COVID-19 relief funding programs (with the exception of CERB) would be ineligible for the SMEDCO Community COVID-19 business program.
“When COVID-19 was deemed a pandemic, all sorts of programs were being made available and we notice that 2 groups of businesses were missed. The Métis microbusinesses and the Métis community owned businesses could not qualify for any programs, so we started the process of talking to Indigenous Services Canada (ISC) to bring to their attention that these two groups were being missed and severely impacted by the pandemic,” said Brunet.
“We have an excellent relationship with ISC and the partnership arrangement was developed, and we were given funds to disperse to the two groups in Saskatchewan,” she continued.
SMEDCO will provide all resources clients may require to assist them in becoming stronger and more efficient.
Clients will have full access to experienced, professional staff along with business advisory consultants to guide them through these uncertain times.
“This is fantastic news for us at SMEDCO. We are the only Métis Capital Corporation in Saskatchewan offering a full suite of financing solutions for Métis businesses since 1987. We understand how the 4th wave continues to impact Métis businesses. Now we can continue to provide non-repayable COVID financial support to Métis businesses that were unable to access other COVID funding,” said Tristan Zachow, chief executive officer.
SMEDCO is strongly passionate about building up the Métis business community in Saskatchewan.
“SMEDCO is also the economic development hub for the Métis Nation-Saskatchewan, and we provide financing solutions for Métis owned businesses in every sector. Weather they are starting a new business, purchasing an existing business or expanding their existing business operations, we are here to assist. SMEDCO also provides economic development supports the Métis region and locals” said Brunet.
“This has been an extraordinary opportunity for us to deliver these supports to communities and micro businesses. Last year we were fully allocated within a few months of receiving the funding. We are now able to further support Métis community development corporations, as well businesses such as commercial fishers, artisans, musicians and home-based businesses. These funds will reach and empower those businesses that have not been able to access other COVID-19 support programs-making an impact in all four corners of the province,” announces Glen McCallum, Saskatchewan president and chair for SMEDCO.
“Applications are available on the SMEDCO website www.smedco.ca at https://smedco.ca/microbusiness-covid-fund/.
Applicants let us know what the hardships have been and how they were impacted by the COVID-19 pandemic, and we take a look at helping them recover. So far we have received approximately 75 applications and the number has been growing every hour” said Brunet.
For more information, please contact Monica Brunet at (306)477-4350 or email at mbrunet@smedco.ca
