Empowering Manitoban women+ tech entrepreneurs with up to $25,000 in funding
North Forge and WeMB have partnered to present the WeTech Loans program. The program aims to remove barriers for women and gender diverse entrepreneurs to access funding.
Getting your business off the ground
In a pioneering collaboration, North Forge and WeMB have partnered to empower women and gender-diverse entrepreneurs in Manitoba’s tech industry. This historic partnership is an initiative offering loans of up to $25,000 to women-led tech businesses.
By bringing together North Forge’s tech incubation resources with WeMB’s commitment to accessible funding and expert business advising, this initiative provides an unprecedented level of coordinated support for women+ tech entrepreneurs in Manitoba.
Purpose & Criteria
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Businesses that are 51% or more owned by self-identifying women+ (cis, trans, 2S, and gender diverse) can be referred to WeMB from North Forge for a business loan up to $25,000.
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Projects must be market-ready (fully developed prototype) so sales can start as soon as possible, or sales have already started.
Loan Terms & Conditions
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Maximum loan term is 3 years
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Interest rate is prime plus 4%
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Interest-only payments for the first 6 months (if required)
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Loan payments are due on the 15th of each month
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There are no penalties to repay the loan early or make extra loan payments
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No loan application fees
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If the loan is approved, a 1% Loan Administration Fee (plus GST) is charged based on the approved amount. The maximum fee will be $250 plus GST.
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WeTech Loans
Expression of Interest
Founders applying must be eligible participants of the North Forge Founders Program.
Partnership
Through the WeTech Loan program, both North Forge and WeMB will provide crucial support to overcome two of the largest barriers facing women+ entrepreneurs in tech: access to funding and strategic mentorship. North Forge’s innovative ecosystem and WeMB’s targeted financial backing aim to bridge gaps for underrepresented entrepreneurs, empowering them to launch, grow, and sustain tech ventures in Manitoba.
