Rural Small Business Operating Credit Guarantee (MB)

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The Rural Small Business Operating Credit Guarantee (RSB) program provides guarantees on lines of credit from participating lending institutions. Loans can be used to purchase inventory, finance receivables and cover the costs of most other common day-to-day business expenses.

Summary

Manitoba Agricultural Services Corporation’s (MASC) Rural Small Business Operating
Credit Guarantee (RSB) program provides guarantees on lines of credit from participating lending institutions. Loans can be used to purchase inventory, finance receivables and cover the costs of most other common day-to-day business expenses.

Eligibility

To qualify for the RSB program:

  • you must be at least 18 years of age and a resident of Manitoba as a Canadian citizen (or lawfully admitted to Canada for permanent residence)
  • you must be the owner-operator or majority shareholder of the business (with at least 20 percent equity)
  • the business must be located in rural Manitoba (outside of Winnipeg)
  • the business must have annual sales or income of less than $2 million

Note: Ineligible businesses include insurance, real estate, financial, professional and consulting services, restaurants and those engaged in primary harvesting of resources and primary agriculture.

Type of Assistance

Upon approval, MASC will guarantee 25 percent of the authorized amount to the lender.
Lines of Credit made under the RSB program can be used for:

  • purchasing inventory
  • financing receivables
  • general operating expenses
  • current year’s principal and interest payments on business loans (as identified at application)

Loan Minimum and Maximum:

  • There is no minimum line of credit to be guaranteed. The maximum loan amount that will be guaranteed is $200,000.

Maximum Interest Rate:

  • The maximum interest rate that can be charged for a RSB loan guarantee is commercial prime plus two percent.

Contact

For additional information, please contact a participating lender or the RSB program specialist.

Manitoba Agricultural Services Corporation
1 - 5290 Monterey Road
Headingley, Manitoba R4H 1J9
Phone: 204-945-2180
Fax: 204-948-2373
Email: rea@masc.mb.ca

Website: www.masc.mb.ca