Financial support for entrepreneurs can be hard to find — particularly for women. That’s why we established the WESK Financing Fund. With loans of up to $150,000 (or more through our partnerships), WESK is proudly dedicated to helping women like YOU launch and grow sustainable businesses that fuel Saskatchewan’s prosperity. Interest rates are Prime +3%. If your business is majority woman-owned and controlled (51%), you may be eligible for a loan.
Since 1995, we’ve provided $37.6 million to grow member businesses — and helped create 1,553 jobs and counting!
Could your business be next?
Frequently Asked Questions
Do I have to put my own money into the business? Yes! The more you’ve personally invested, the more committed you are to making your business work, and the more likely other investors or lenders are to support you. A general rule of thumb is 20% of your project cost. You may be able to get financing through a bank loan, government loan or grant, personal investors, or even from friends and family.
Are there any grants available to women starting a business? WESK offers loans of up to $150,000 ($250K through our partners), but no grants. There has been a great decline in the number of grants available over the past 10 years. Most are federally funded and target specific industries, regions or groups (visible minorities etc.).
How long does it take to get a loan from WESK? It depends if you’ve completed your business plan. The more prepared you are, the quicker the process. Your first step is to meet with a WESK Business Advisor, who will help you complete your plan. Once all your documentation is received, the review and decision process usually takes about two weeks.
If the loan is denied, may I appeal? Yes. Within 15 business days of the date of the decline letter, please provide, in writing to the CEO, sound business reasons why your application should be reconsidered and include any new information not previously shared. The CEO will review your original application, assessment, appeal letter, and gather any additional input from you and/or staff as needed. If the CEO feels there are sufficient grounds for the appeal, the CEO will forward the material to two individuals independent from the loans process. From here, a final decision on the appeal will be made within two weeks. The CEO will then contact you to explain the decision, which is binding.