Eligibility and Criteria
General Eligibility:
- Must be a for-profit venture
- Business must be 51% owned, operated, and controlled, by a woman or women of legal age who are either Canadian citizens or Permanent Residents residing in Alberta
- Business must operate, be headquartered and pays taxes in Alberta
- Borrower must be in good standing with AWE on any financing already extended
* “Owned or controlled by a woman or women” is defined as at least 51% ownership and management control over the operations of the business. There must not be any shareholder, marital, or other agreement in place that restricts the woman's right to vote and/or affects her control over the company.
We look at a number of criteria including, but not limited to:
- Business viability
- Industry viability
- Security valuation meets or exceed 30% of the loan requested (flexible for micro-loan)
- Equity valuation meets or exceeds 25% of the total project (flexible for micro-loan)
- Current credit score for all controlling directors/partners must be reasonable
- The skills, industry experience, training and personal traits brought to the project by the controlling directors/partners is in line with its management needs