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Rural Entrepreneur Assistance Guarantees (REA)
May 2009
Programs and Services
Rural Entrepreneur Assistance Guarantees (REA)
PURPOSE OF PROGRAM/SERVICE
The Rural Entrepreneur Assistance Program (REA) provides loan guarantees to
private lenders that are prepared to offer financial assistance to full-time,
small and home-based businesses in rural Manitoba. Loans are made to
owners/operators and may be used for the purchase of fixed assets, inventory
and/or working capital.
WHO QUALIFIES
The program is available to small businesses located in Manitoba, outside of
Winnipeg, which have a $1.5 million or less in annual income/sales. Businesses
not eligible include: insurance, real estate, financial, professional and
consulting services and restaurants, those engaged in primary harvesting of
resources, primary agriculture or those intending only to renovate or make
cosmetic changes to buildings.
AVAILABLE BENEFITS/ASSISTANCE
Under REA, the province will guarantee individual business loans between
$10,000 and $200,000. These loans are offered by participating lenders for up to
ten-year terms at an interest rate of prime + 1%.
WHO TO CONTACT
REA Program Specialist
Manitoba Agricultural Services Corporation
816 - 401 York Avenue
Winnipeg, Manitoba R3C 0P8
Phone: (204) 945-2180 or toll free at 1-800-567-7334
or visit
www.masc.mb.ca.
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