Business Loans that Support Growth
Women entrepreneurs in Saskatchewan face unique challenges, but with the right financial support, dreams can transform into thriving businesses. At WESK, we’re committed to providing the funding needed to take your business to new heights. In this guide, we’ll discuss how WESK loans can help women entrepreneurs access up to $150,000 in financing, explore the benefits, and provide insights on how you can apply.
Whether you’re starting a new venture or expanding an existing one, our loans come with unique features that cater specifically to the needs of women entrepreneurs. Let’s dive in and discover how WESK can help you grow!
Benefits of WESK Loans for Women Entrepreneurs
WESK loans are specifically designed to support women-owned businesses, with competitive terms and benefits that make it easier to secure the financing you need. Here are some of the key benefits:
- Competitive Interest Rates
- Our loans offer fixed interest rates at Prime + 3%, making it easier for entrepreneurs to plan and budget for their financing costs. Plus, reduced rates are available for existing businesses and returning WESK loan members.
- No Penalty for Lump Sum Payments
- With WESK loans, you have the freedom to make lump sum payments or pay off your loan in full without any penalties. This flexibility helps you manage your finances effectively, paying down debt as soon as you’re ready.
- Flexible Loan Terms
- Loan terms range from 1 to 7 years, allowing you to choose a repayment schedule that best suits your business cash flow.
- Funding up to $150,000
- WESK offers loans from $1,000 up to $150,000, giving you the capital you need to get started or expand. Additionally, as a Loan Fund Partner with WEOC (Women’s Enterprise Organizations of Canada), we offer supplementary financing opportunities of up to $50,000.
- WESK GOALS Program
- As a loan recipient, you’ll be enrolled in the WESK GOALS program, providing access to personalized advising, exclusive events, and free or discounted business training to help you succeed.
- Interest Goes Back to Fund Other Business Owners
- The interest collected from WESK loans goes directly back into our loan fund, helping to finance the next women entrepreneur looking for support. This means that your growth fuels opportunities for others.
- Discounts for Returning Clients
- If you are an existing WESK client or returning loan member, you may qualify for discounted interest rates – a benefit that recognizes and supports members in their business journeys.
Are You Eligible for WESK Loans?
To qualify for a WESK loan, there are a few eligibility requirements you need to meet:
- You must be a WESK member.
- You must be a woman or a business owned and controlled by women (at least 50% ownership).
- You must be a Canadian citizen or permanent resident, and your business must be registered and operating (or about to operate) in Saskatchewan.
- You must be at least 18 years of age and provide 20% owner’s contribution to the business.
Our goal is to make the application process as smooth as possible, which is why we assign a dedicated business advisor to each client to help navigate the entire process—from preparing documents to submitting your application. Sign up for one of our Business Loan Info Sessions to determine your eligibility.
How to Apply for a WESK Loan: Step-by-Step Process
- Become a WESK Member
Purchase a WESK membership and get matched with a business advisor. - Prepare Your Application
Work with your business advisor to gather and review all necessary documents. - Submit for Initial Review
Your advisor will submit your application for an initial review by the lending team. - Assessment & Approval
The lending team, along with your advisor, will assess your application and send it for approval. - Sign Loan Documents
Once approved, sign the loan documents. - Receive Funds
After signing, funds will be disbursed to your bank account. - Join the WESK GOALS Program
Enroll in the GOALS program for ongoing support and resources.
Take the First Step Toward Growing Your Business
Access to funding is a game-changer for women entrepreneurs. With the right financial backing, you can take risks, innovate, and build a sustainable business. At WESK, we’re not just about financing—we’re about community, growth, and empowering women to realize their full potential.
Ready to get started? Send us an email to get your WESK Loan’s process started.
Was this helpful?
Not what you were looking for? Let us know.