MNO welcomes increased capital funding

The MNO welcomes the Government of Canada’s April 18th announcement of funding for small and medium sized Indigenous businesses facing challenges and economic hardships due to COVID-19. This distinction’s based approach will see this money flow through Métis Capital Corporations including the MNO’s Métis Voyageur Development Fund (MVDF). The Federal funding announced will allow the MVDF to provide eligible Métis businesses with $40,000 in support. $30,000 of which will be in the form of an interest free repayable loan and $10,000 of which will be non-repayable.

While these amounts align with the level of government support being provided to non-Indigenous businesses, the MNO and the MVDF are working hard to secure additional funding from other partners that will allow the MVDF to supplement these amounts and to support to more Métis businesses in the coming months. While priority is being given to existing and former clients of the MVDF, all Métis businesses are encouraged to visit the MVDF website and add their name to the Métis Business Registry.

We welcome this funding as it will allow both the MNO and MVDF to keep Métis businesses informed about COVID-19 related support. Visit the Métis Business Registry to complete the form and register your business today! As previously stated, the MVDF is doing all it can to support Métis businesses and entrepreneurs during this unprecedented time and the economic situation COVID-19 has caused. The MVDF is supporting Métis entrepreneurs in Ontario in the following ways.

To help current clients minimize the cash strain on their business the MVDF is suspending interest and fees on all loans until May 31, 2020. They will also be deferring all regular schedule loan payments. Additional resources for the Ontario Métis business community during the COVID-19 crisis can be found on MVFD’s website at www.mvdf.ca.

 

Posted: April 24, 2020

See ALL news articles