How to Apply for LRCC Business Plan Funding: Step by Step

If you are a Red River Métis entrepreneur in Manitoba, the Louis Riel Capital Corporation (LRCC) can pay most of the cost of having a consultant write your business plan. LRCC calls this its Business Support Program.

This guide walks through who qualifies, what LRCC asks for, what you pay, and how the plan fits into LRCC’s grant and loan application. The program details below come from LRCC’s website and its published documents: the Business Support Application (March 2025 version), the Business Grant & Loan information sheet, the Business Plan Template and the Business Plan Checklist. Program details can change, so confirm the current rules with LRCC before you apply.

Two ways to get a business plan for LRCC

LRCC’s Business Plans page sets out two options:

• Write it yourself. LRCC publishes a Business Plan Template and a Business Plan Checklist that show what it generally needs. LRCC staff can give feedback on your plan once you submit it with your Grant & Loan Application.
• Hire an outside consultant. LRCC’s Business Support Program may cover up to 75% of the cost through a non-repayable grant.

The template, the checklist and the Business Support Application can all be downloaded from that page.

What the Business Support Program covers

According to LRCC, the Business Support Program is a non-repayable grant toward business support costs, to help a Red River Métis entrepreneur start, expand or acquire a business in Manitoba. Business support costs may include a business plan, a business valuation or an environmental assessment.

The program covers up to 75% of the total cost, excluding GST, of work done by an independent, third-party consultant or company. LRCC notes that business plans often cost at least $5,000 plus applicable taxes.

How to apply, step by step

The Business Support Application lists these requirements:

• The business must be at least 51% Red River Métis owned and controlled.
• The business must be headquartered in Manitoba, and at least one Métis owner must live in Manitoba.
• The project must provide full-time employment to at least one Red River Métis owner.
• You must have, in non-borrowed cash, 25% of the expected business support costs plus any applicable taxes.
• You must also have, in non-borrowed cash, 10% of the estimated total cost of the project (the start-up, expansion or acquisition).
• You must provide at least two quotes from qualified consultants or companies.

The cash requirement adds up. For example, with a $5,000 business plan and a $100,000 project:

LRCC’s grant and loan programs also exclude some businesses, including those focused on liquor, tobacco or cannabis, or gambling, passive real estate investments, and businesses located outside Manitoba.

LRCC recommends contacting its office in the early stages of a project, so staff can go over its requirements with you before you formally apply.

LRCC requires a minimum of two quotes from qualified consultants or companies. If you need a referral to qualified consultants, LRCC says you can contact its office.

The application asks for the type of project (start-up, expansion or business acquisition), your business details, the ownership, a best estimate of total project costs, a short description of what the business will sell, and your experience in the industry. LRCC’s application checklist asks you to include:

• Proof of Red River Métis heritage for each Red River Métis owner (an MMF Citizenship card, or a letter from the MMF Central Registry Office and genealogy documents), plus additional photo ID for each owner.
• Proof of your cash equity: bank or investment statements showing the funds on hand for at least 30 days, and a gift letter if the money was recently gifted.
• Canada Revenue Agency Notices of Assessment for the previous two years for each owner, with proof of payment if taxes were owing.
• LRCC’s Personal Statement of Affairs, completed by each owner and signed by their spouse.
• Business registration documents (expansions only).
• A resume for each owner (start-ups and acquisitions only).
• Financial statements for at least the last two years (expansions and acquisitions only): CRA T2125 statements for sole proprietors and partnerships, or accountant-prepared statements at Notice to Reader level or higher for corporations.
• An intent or offer to purchase with a financing condition, prepared by a lawyer (acquisitions only).
• At least two business support quotes.

LRCC’s application states that costs incurred before program approval are not eligible. Once the Business Support grant is approved, the consultant can begin.

LRCC says a business plan is required, but the level of detail varies from project to project and depends on the amount of financing needed. Its Business Plan Template is organized in these sections:

1. Business overview, including the percentage of Métis ownership and your background.
2. Project summary, with a table of start-up costs and use of funds against the sources of financing (your equity, a bank or credit union loan, and LRCC).
3. Industry overview and trends.
4. Competition analysis.
5. Market analysis.
6. Marketing plan, including what information was used to arrive at the sales projections.
7. Operations: location and hours, management experience, employees, pricing and suppliers.
8. Bookkeeping and accounting, plus environmental and licensing considerations.
9. Financial projections with notes and assumptions, including how revenue was determined, and an income statement summary for years 1 and 2.

LRCC’s Business Plan Checklist also lists a financial plan with cash flow budgets, a break-even chart, a pro forma balance sheet and a personal balance sheet, as well as personal references and a section on the risks facing the business and how you would handle them.

The business plan supports your application to LRCC’s Business Grant & Loan Program. The grant and the loan work together: LRCC describes the grant as additional equity that helps you access a business loan.

A few other points from LRCC’s information sheet and program page:

• Projects generally need to be above $40,000 unless you are expanding an existing business. LRCC points smaller start-ups to its Small Business Grant & Loan Program or its Métis Women Entrepreneurship Program.
• LRCC lists a maximum grant of $99,999 and a maximum loan of $250,000, with co-lending possible for larger loans.
• LRCC recommends applying two to three months before you plan to carry out the project, and asks you to allow up to six to eight weeks for processing once it has all the documents.

Quick checklist

1. Confirm you meet the ownership, residency, employment and cash requirements.
2. Contact LRCC early to talk through your project.
3. Get at least two quotes from qualified consultants.
4. Submit the Business Support Application with the documents on LRCC’s checklist.
5. Wait for LRCC’s approval before the consultant starts.
6. Work with the consultant on a plan that follows LRCC’s template and checklist.
7. Use the finished plan in your Business Grant & Loan application.

Frequently asked questions

How much does LRCC pay toward a business plan?

Up to 75% of the cost, excluding GST, through the Business Support Program. The grant is non-repayable. You need your 25% share plus applicable taxes in your own cash.

Do I need more than one quote?

Yes. LRCC requires at least two quotes from qualified consultants or companies.

Can I write the business plan myself?

Yes. LRCC publishes a Business Plan Template and Checklist for that purpose, and its staff can give feedback once you submit the plan with your Grant & Loan Application.

Can the program pay for a business valuation?

LRCC lists a business valuation, along with a business plan or an environmental assessment, as a business support cost the program may cover. This can matter if you are buying a business.

Can the consultant start before LRCC approves the funding?

No. LRCC states that costs incurred before program approval are not eligible for support.

How do I contact LRCC?

LRCC lists 204-589-0772, 1-800-387-6004 (toll free within Manitoba) and info@lrcc.mb.ca. Its office is at 2100-333 Main Street, Winnipeg.

Next steps

Acadia Hill prepares LRCC business plans and provides the written quote LRCC asks for. Read more about our LRCC business plan service, see Métis business funding by province, or read about buying a business with FPEGF or LRCC funding. You can also contact us to talk about your project.