SIEF Business Plans for First Nations Entrepreneurs in Saskatchewan
The Saskatchewan Indigenous Enterprise Foundation Inc. (SIEF, formerly the Saskatchewan Indian Equity Foundation) helps First Nations entrepreneurs start, acquire or expand businesses in Saskatchewan. Where a business plan is required, the SIEF Contribution Program may fund up to 75% of the cost of business plan development.
What Is the Saskatchewan Indigenous Enterprise Foundation?
The Saskatchewan Indigenous Enterprise Foundation Inc. (SIEF) was established in 1986 to give First Nations entrepreneurs access to the business financing that larger financial institutions often do not provide. SIEF describes itself as one of Canada’s first and largest Aboriginal Financial Institutions. It is owned by the 74 First Nations of Saskatchewan and affiliated with the Federation of Sovereign Indigenous Nations (FSIN).
SIEF offers commercial and agricultural loans, and business development programs. Its main grant program is the SIEF Contribution Program, a needs-based, conditional, non-repayable contribution for starting, acquiring or expanding a business. The contribution can reach a maximum of $99,999 of total project costs for individual applications, and $250,000 for community- or band-owned enterprises.
Business plan development is part of the Contribution Program. SIEF’s application states that, where required, the program may fund up to 75% of the cost of business plan development. A comprehensive business plan with three-year projected financials is then required at the second stage of the application.
Acadia Hill prepares business plans and business valuations for First Nations entrepreneurs, including those buying an existing business.
SIEF at a Glance
- Established in 1986; owned by the 74 First Nations of Saskatchewan
- Serves First Nations entrepreneurs and businesses in Saskatchewan
- Contribution Program: up to $99,999 (individual), up to $250,000 (community or band-owned)
- Business plan development: up to 75% of the cost, where required
- Minimum 10% cash equity from the applicant
- A business loan from a financial institution is part of the financing
- Applicant and SIEF equity combined capped at 50% of eligible capital project costs (youth up to 60%)
- Office in Saskatoon on the Asimakaniseekan Askiy Reserve
SIEF Programs for First Nations Entrepreneurs
SIEF offers grants, loans and advisory support. The right program depends on your project, your ownership structure and how much financing you need. SIEF asks applicants to contact a Business Development Officer before filling out a Contribution Program application.
SIEF Contribution Program
A needs-based, conditional, non-repayable contribution for starting, acquiring or expanding a business. It can support business development, capital and operating, marketing and ongoing business support costs. Requires 10% cash equity and a business loan from a financial institution.
Business Plan Development
Part of Stage 1 of the Contribution Program. SIEF’s application states that the program may fund up to 75% of the cost of business plan development, where required. Costs incurred before approval are not eligible.
Commercial Loans
Developmental loans for First Nations entrepreneurs starting, acquiring or expanding a business in Saskatchewan. SIEF will consider partnering with another financial institution when financing needs exceed its lending limits.
Agricultural Loans
Loans for First Nations agricultural operations, from small operations to full-scale, full-time farms.
Indigenous Women Entrepreneur (IWE) Program
Supports First Nations women starting or growing a small or home business in Saskatchewan. A loan and contribution are issued together, totalling no more than $25,000.
Business Development Officers
SIEF’s Business Development Officers provide business advice and information to First Nations individuals, communities, Tribal Councils and organizations, and can visit your community.
SIEF Contribution Program Eligibility
To be eligible for the SIEF Contribution Program, the client and the business must be based in Saskatchewan, and the applicant must be a registered Status Indian, a majority-owned First Nation business or development corporation, or a First Nation community or organization.
All applications require a minimum cash equity contribution of 10%, and applicants must secure a business loan from a financial institution for part of the project cost. For individual applications, the applicant should be involved full-time in a management capacity and be able to perform the core work of the business.
Some activities are not eligible, including alcohol and tobacco production or sales, gaming operations, sexually exploitive businesses, payday lenders and pawn shops, passive investments such as real estate, firearms manufacturing, and the purchase of buildings or land.
Funding is completed in two stages. Stage one is the application to determine eligibility. Stage two requires a comprehensive business plan that shows the long-term viability of the proposal and its ability to create jobs.
- Client and business based in Saskatchewan
- Registered Status Indian, majority-owned First Nation business or development corporation, or First Nation community or organization
- Minimum 10% cash equity
- Business loan from a financial institution for part of the project
- Full-time involvement in the business (individual applications)
- Comprehensive business plan with three-year projected financials (stage two)
- Quotes for any item over $5,000
- No costs incurred before approval
What Your SIEF Application Needs
SIEF’s stage-two business plan must demonstrate long-term viability and the ability to create jobs, with three-year projected financials. SIEF’s application checklist also lists the supporting documents below.
Project Description
What the project is, the products or services, any contributed assets and the work done to date. SIEF notes that a business plan will be required at a later stage.
Project Costs & Financing
An itemized list of project costs and the proposed financing package. Total project costs must equal total project financing. Quotes are required for any item over $5,000.
Commercial Financing
The financial institutions or organizations you have approached for a loan. SIEF states it will contact them to confirm you can obtain a loan before working on your application.
Three-Year Projections
The comprehensive stage-two business plan should include three-year projected financials that show the proposal’s long-term viability.
Owner Documents
For individual applicants: Status Card, personal net worth statement, résumé, proof of cash equity, most recent Notice of Assessment and two pieces of government-issued ID.
Acquisition Documents
If you are buying an existing business, SIEF’s checklist asks for that business’s financial statements (up to three years, if available). Individual applicants also provide an unsigned purchase agreement.
Cost Categories in the SIEF Contribution Program
SIEF’s application groups project costs into the categories below. The percentages shown are the ones printed on SIEF’s application form. SIEF staff confirm what is eligible for your project.
Development (75%)
Stage 1 costs: business plan or feasibility study, and environmental assessment.
Capital
Equipment, inventory (first month), and land or building leases (first three months), among other capital items listed on the application.
Operating
Start-up operating costs such as insurance and three months of utilities.
Marketing (75%)
Advertising, website and other marketing costs.
Business Support (75%)
Accounting, legal and other business support costs.
Equity Limit
For a capital project, the applicant’s equity and the SIEF contribution combined will not exceed 50% of total eligible project costs (youth up to 60%).
How Acadia Hill Supports Your SIEF Application
Acadia Hill prepares business plans structured around what SIEF asks for: a clear project description, itemized project costs that match the financing, a realistic commercial loan component, and three-year financial projections that show viability and job creation.
We provide a written quote and scope you can include with your Contribution Program application. Because SIEF does not fund costs incurred before approval, plan work begins only once your approval is in place.
If you are buying an existing business, Acadia Hill is a CBV firm and can prepare an independent business valuation to support the purchase price. SIEF’s published materials do not list a valuation requirement for acquisitions, so ask SIEF whether one would help your application.
Estimate your potential funding with our Indigenous funding calculator, or compare programs in other provinces on our Indigenous business plans page. We also prepare plans for FPEGF and LRCC applications in Manitoba.
SIEF Business Plan Deliverables
- Complete business plan for the SIEF Contribution Program
- Three-year projected financials (income, cash flow, balance sheet)
- Itemized project costs matched to total financing
- Market analysis and competitive positioning
- Management and staffing section
- Written quote and scope for your application
- CBV business valuation for acquisitions (if needed)
From First Call to SIEF-Ready Plan
The steps follow SIEF’s two-stage process, so business plan funding is approved first and the plan is built for the stage-two review.
Free Consultation
Talk through your project and which SIEF program fits. SIEF also asks applicants to contact one of its Business Development Officers before applying.
Stage One Application
Apply to the Contribution Program with Acadia Hill’s quote for business plan development. Wait for SIEF’s approval before any plan work begins.
Plan Development
Once approved, we gather your information, build the plan and three-year projections, and review the draft with you by phone or Zoom.
Stage Two Submission
Final plan delivered, ready for SIEF’s stage-two review of long-term viability and job creation.
SIEF Business Plan Pricing
If SIEF approves funding for up to 75% of business plan development, your out-of-pocket cost for a $5,000 business plan would be about $1,250.
Full Business Plan
- Complete plan for the SIEF Contribution Program
- Three-year projected financials
- Itemized project costs matched to financing
- Market analysis and competitive positioning
- Written quote and scope for your application
Financial Projections Only
- Income statement forecasts
- Cash flow projections
- Balance sheet projections
- Break-even analysis
- Built from your actual revenue drivers and cost structure
SIEF Business Plan FAQ
Discuss Your SIEF Business Plan
If you are a First Nations entrepreneur in Saskatchewan considering the SIEF Contribution Program, start with a free, confidential conversation. We can help you scope the plan and provide the quote for your application.
- Phone 204-951-4751
- Email info@acadiahill.com
SIEF Contact Information
Saskatchewan Indigenous Enterprise Foundation Inc.
202A Joseph Okemasis Drive, Saskatoon, SK S7N 1B1
Phone: 306-955-4550
Website: sief.sk.ca