Afro-Entrepreneurs Fund

Eligibility for the Afro-Entrepreneurs Fund is based on specific criteria related to the applicant's community and business operations.

• The applicant must be a businessperson from a black community in Quebec.
• The applicant must operate a company within Quebec.
• The business must be a small business seeking a direct loan between $50,000 and $500,000.
• The project must fall within the manufacturing, processing, retail, or service industries, as all industry segments are covered.

Who is eligible?

Applicants eligible for the Afro-Entrepreneurs Fund include business owners from black communities in Quebec who are managing a company. The fund covers a wide array of industry sectors, allowing for diverse business ventures within manufacturing, processing, retail, and service industries.

Eligible expenses

• Purchase of financed goods with resale value.

Eligible geographic areas

• Quebec

• Loan recipients are required to provide regular financial updates to the fund.
• Special arrangements can be negotiated regarding the frequency and amount of loan repayments.
• Guarantees may be required based on the level of risk and the resale value of funded assets.
• Repayment is typically structured in monthly instalments.