MVDF can provide up to $1,000,000 in financing to a business or set of related businesses.
You can reapply to MVDF as many times as you want, however we cannot provide more than $1,000,000 in outstanding financing at any one time.
MVDF only supports Métis owned and controlled businesses, those where 50% of the beneficial ownership of an enterprise is held by Métis entrepreneurs. Where ownership and or control of a business is not solely held by Métis entrepreneurs each project will be considered on a case by case basis to ensure that the Métis owner will stand to gain from the funding provided by MVDF.
If I would like to start the process of applying for funding from MVDF, where would I find the application forms?
We would be pleased to provide you with an application by email.
What equity is required?
A minimum of 10% equity is required; equity in the form of contributed assets (directly related to the business) may occasionally be considered. MVDF does not recognize personal assets such as a personal vehicle or residential real estate as equity. In the case of an existing business, MVDF can recognize the equity you have built up in your business.
Are personal guarantees taken by MVDF?
Yes, MVDF does require personal guarantees. Funding to partnerships and proprietorships are supported by an accepted letter of offer signed by all the owners of the business so they are personally obligated.
In the case of a limited company, MVDF makes the contribution to the shareholders and the company jointly so the owners are personally obligated.
Is there any support available after the contribution is made?
MVDF provides non-repayable business plan and aftercare support over the life of our participation. The intent is to continue a relationship with our clients well after the project is funded, providing support and guidance along the way.
What are the restrictions to the aftercare support?
Technical skills such as truck driver training, equipment operator training, etc. will not be funded. The intent is to help clients acquire the skills necessary to manage their business and the program is quite flexible in this regard.
Does MVDF fund not-for-profit businesses?
No. We are solely focused on supporting Métis entrepreneurs in the for-profit sector.
What is the relationship between the MVDF and the Métis Nation of Ontario?
The MNO appoints the Board of Directors of the MVDF but the MVDF Board of Directors is independent of the MNO.
What distinguishes the MVDF from other financial institutions such as banks and credits unions?
MVDF does not seek a profit but only seeks to maintain its loan capital base. Its goal is not profit, but to positively impact the Métis economy by supporting Métis owned and controlled businesses.
How does the MVDF determine if someone is Métis?
Anyone who is a citizen of the MNO or who self-identifies as Métis is considered Métis for the purposes of the MVDF.