Manitoba
Printer Friendly

Manitoba Housing and Community Development

Set text to smallest size Set text to normal size Set text to larger size Set text to largest size
Manitoba Housing
Manitoba Housing and Community Development

The Cooperative Loans and Loans Guarantee Board

The Co-operative Loans and Loans Guarantee Board provides financial help to co-op organizations. The Board provides loan guarantees to viable co-ops that are unable to get financing on reasonable terms in order to support the growth and development of the sector.

Eligibility Criteria
To be eligible for a loan guarantee co-ops must demonstrate the following:

  • The required financing is not available on reasonable terms from lenders or other sources, even after an effort has been made, but would be available with assistance from Government.

  • The funds will not be used for refinancing or for payment of an existing debt.

  • The loan is for productive purposes and is necessary to the success of the project.

  • There is reasonable evidence that the co-op will be viable and able to repay the loan.

  • Reasonable security is available.

  • Members have sufficient equity so that their risk is at least equal to the amount of the guarantee being requested.

  • Normal co-op principles and business practices are and will continue to be followed.

Terms and Conditions

  • Each co-op applying for financial help is treated as unique.

  • Repayment terms will vary, depending on the circumstances of the co-op.

Making An Application
The Board meets regularly to review applications. Contact Cooperative Development Services for an initial consultation. Staff can also assist you with:

  • General assistance in preparing your application.

  • General information about co-ops.

  • Additional information about assistance programs for starting or expanding co-ops.

Download the The Cooperative Loans and Loans Guarantee Board form. (PDF)

Contact Cooperative Development Services:

Rochelle Harder
Cooperative Development Services
Manitoba Housing and Community Development
2nd Floor - 406 Edmonton St. (As of June 30, 2011)
Winnipeg, Manitoba, R3B 2M2

Phone: 204-945-3379
Fax: 204-948-1065
Toll-free: 1-866-479-6155
Email: co-ops@gov.mb.ca