selection criteria

application process



The SIIFC provides loan guarantees of at least $5 million to Indigenous communities and entities for equity investment in eligible natural resource development and value-added agriculture projects. The SIIFC is targeted at eligible entities that are seeking increased access to capital for investment in eligible projects.


Who can apply?

Eligible applicants must be an Indigenous community or organization within the following:

  • A Saskatchewan First Nation or Tribal Council
  • An economic development corporation that is owned by Métis Nation – Saskatchewan, Métis Nation – Saskatchewan Region, or Métis Nation – Saskatchewan Local
  • An economic development corporation owned by a self-declared Northern Métis municipality in Saskatchewan that has a board of directors, the majority of whom are registered members of Métis Nation – Saskatchewan
  • Any other entity that demonstrates they fall within the mandate of the SIIFC
  • A corporation wholly owned by an entity mentioned above

Where can the eligible project occur?

Saskatchewan-based projects will be given preference; however, projects in other Canadian jurisdictions may be considered where a significant economic benefit to Saskatchewan can be demonstrated.

What is an eligible project?

The project must be within the following sectors, or related infrastructure:

  • Natural resource development
    • Includes: forestry mills, such as OSB, plywood, lumber, and pulp; mining, such as mineral extraction and processing; energy, such as oil and gas production and refining, and small modular reactors; renewable energy, such as solar, wind, hydro, geothermal, biomass, municipal solid waste to energy, landfill gas and biogas to energy, carbon capture, utilization and storage
    • Does not include: mineral exploration, oil and gas exploration
  • Value-added agriculture
    • Defined as: the physical transformation or upgrading of any raw/primary agricultural product(s) or any agricultural byproduct or waste into a new or updated product
      • Includes: canola crushing, pea processing, oat milling, malt production, cannabis oil processing, etc.
      • Does not include: facilities solely dedicated to cleaning, bagging, handling and/or storage of primary products
  • Infrastructure related to the above

Selection Criteria

Many factors are considered when reviewing loan guarantee applications. Below are a few to help you determine if your project might be a good fit to apply for an SIIFC loan guarantee.

  • Do you have well-defined and risk-acceptable business and financial plans, viable business models, detailed transaction terms, supporting professional industry and risk analyses, reasonable and appropriate budgeted costs and assumptions, and are you able to demonstrate that comprehensive due diligence has been conducted?
  • What is the demonstrated skill, expertise, track record, diversity, and governance of the individuals, management team, industry partners, contractors, etc., who comprise, or are associated with, the project’s management team and third-party co-investor(s)?
  • What is the legal and professional expertise and experience supporting the applicant and what is the governance structure of the applicant?
  • What are the current ongoing business activities and experience of the entities comprising the applicant and will the capacity exist within the applicant(s) to manage the investment in the project?
  • Are relevant project agreements in place (e.g., term sheets, permits, construction, supply, management, partnership or joint venture)?
  • What is the assessed viability of the project, and does it demonstrate reasonable, risk-adjusted commercial terms?
  • Is confirmation of support from the Indigenous community available (e.g., Band Council Resolution, Council Resolution, Board Resolution)?
  • What are key milestones and the overall intended timeline, and how will they be achieved (i.e., has a project plan and investment timeline been defined)?
  • What risk mitigation measures are in place (e.g., regulatory, operational, financial)?
  • How many communities are expected to realize benefits and what types of benefits will be generated by the project for the Indigenous group? (Benefits typically include things like employment, procurement, skills development, business development, capacity building, community investment and infrastructure)
  • What are the expected benefits of the project to Saskatchewan, including direct contribution to the long-term, sustainable growth of Saskatchewan?

What does the application process look like?

Step 1: Complete the online self-assessment to determine eligibility.

If the results show that your organization may be eligible, please complete the Loan Guarantee Pre-Application form and submit it to

If the results show ‘Contact us for eligibility,’ please reach out for a discussion regarding the project and the SIIFC’s eligibility requirements.

Step 2: SIIFC assessment of application

The SIIFC will assess the application for preliminary eligibility requirements. If these requirements are satisfied, the SIIFC will request an external third party operating at arm’s length to assess the application for risk and overall project viability. The third party will provide a summary of their assessment to the SIIFC board, which retains decision-making authority.

Phase 1:


The SIIFC will assess submitted pre-applications for the satisfaction of preliminary eligibility and initial risk assessment requirements

Phase 2:

Full Application

If preliminary eligibility and initial risk assessment requirements are met, applicants will be invited to complete a Full Application

Phase 3:


Applications will be evaluated and provided to the SIIFC Board for review

Phase 4:

SIIFC Board Review
and Decision

The Board will review the application details and make a decision

Application Approved
or Declined


A decision letter will be issued to the applicant outlining the next steps


What is the minimum loan guarantee value that will be supported by the SIIFC?

$5 million. However, if the loan guarantee value being sought is less than $5 million, please contact us for more details.

Can investment projects occurring outside of Saskatchewan be eligible for the SIIFC?

Yes, granted that the project will bring demonstrable economic benefits to Saskatchewan and Saskatchewan’s First Nations and/or Métis communities.

Does the SIIFC charge a fee for loan guarantee applications?

No, there is no fee associated with applying. However, approved applicants will be charged a small fee on the declining balance of the loan guarantee issued.

If an investment is eligible, is it certain that a loan guarantee will be approved?

No. Loan guarantee applications are subject to several assessment factors, including the room available in the SIIFC’s budget and the risk profile associated with the project, among other factors.

What is the benefit of having an SIIFC loan guarantee on an investment?

A loan guarantee can better enable communities to invest in major projects, especially communities that might not otherwise be able participate as part of the investment group. A loan guarantee may also help reduce the cost of borrowing.

How can I find an Indigenous partner for my project?

Please contact our office to discuss the project and the opportunity for connections to an eligible Indigenous partner.