Manitoba Industrial Opportunities Program (MB)

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The objective of the Manitoba Industrial Opportunities Program (MIOP) is to secure significant business project investment that would not occur in Manitoba without the provision of some level of government assistance.

Summary

The objective of the Manitoba Industrial Opportunities Program (MIOP) is to secure significant business project investment that would not occur in Manitoba without the provision of some level of government assistance.

The primary considerations in assessing any request for assistance will be:

  • viability of the business proposal
  • applicant’s level of equity contribution
  • project’s resulting benefits to the Manitoba economy

The program provides repayable secured loans or loan guarantee assistance to recipient companies in return for significant project investment and/or long-term job creation.
Most loan repayment terms are 60 to 84 months and repayment terms can be flexible.
Favourable interest rates are available to businesses that undertake significant project investment and/or create new jobs.

It is of utmost importance that the project be commercially viable and that there is a strong commitment from the applicant. The nature and level of provincial support offered to a project will be established by a detailed review of the proponent’s business plan, including a rigorous benefit/cost analysis and risk appraisal.

Program Considerations

The following considerations will apply to applicant projects under this program:

  • Eligible Projects – Commercially viable businesses operating, or wishing to establish, in Manitoba and undertaking significant investment to implement a business project which will enhance the company’s viability and will provide economic benefits to the Manitoba economy. Economic benefits to Manitoba would be in the form of long-term job creation, or in certain cases, maintenance of existing jobs in Manitoba.
  • Equity Requirements – Minimum equity requirement of 20 percent of project costs; start-ups and other types of high-risk projects may require a significantly higher level of equity.
  • Repayment Terms – Repayment terms are related to the nature of the loan security provided. For example, a typical range for loans based on equipment security would see repayment terms ranging from 60 to 84 months.
  • Security – All MIOP loans are required to be secured; start-ups and other types of high-risk projects may have more stringent security requirements.
  • Size of Loan – Typical range for MIOP loans is $500,000 to $5,000,000; larger loans may be considered. Assistance from all levels of government will be a factor in determining the level of MIOP funding to be considered.

Other key MIOP considerations are available by viewing a detailed MIOP program information sheet.

MIOP Information Requirements

To undertake our appraisal, we require a comprehensive business plan that includes the following key information:

  • brief information on the following:
    • background/history of company
    • description of ownership structure
    • description of production (and distribution) facilities
    • description of products/product categories
    • description of markets, exports, competitors, etc.
    • description of recent market trends in your industry and your predictions of future market trends
  • description of project, rationale, critical dates
  • description, timing and amount of project expenditures
  • description (including respective salary level), timing and number of jobs to be maintained
  • outline of the proposed project funding including all sources of debt and equity financing
  • resumes of key management personnel
  • historical financial statements, audited if available (Balance Sheet, Statement of Income, Statement of Changes in Financial Position and Cash Flow Statement for the last three years along with most recent interim financial statements)
  • projected financial statements (Balance Sheet, Statement of Income, Statement of Changes in Financial Position and Cash Flow Statement) for three years with key assumptions clearly outlined
  • description of the loan security being offered

Contact

Financial Services Branch
Manitoba Growth, Enterprise and Trade
1040 – 259 Portage Ave.
Winnipeg, Manitoba R3B 3P4
Phone: 204-945-1015
Toll free: 1-800-282-8069
Fax: 204-945-1193
Email: jeffrey.hodge@gov.mb.ca
Website: http://www.gov.mb.ca/jec/busdev/financial/miop/