How much funding can be received?

Funds up to 500000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Afro-Entrepreneurs Fund?

Afro-Entrepreneurs Fund is funded by Filaction

What are Afro-Entrepreneurs Fund's eligibility criterias?

The applicant must be a businessperson from a black community in Quebec. The applicant must run a company in any of the covered industry segments such as manufacturing, processing, retail, or service.

Afro-Entrepreneurs Fund

Last Update: June 5, 2025

QC, Canada

Loans to Black Community businesses in Quebec

Afro-Entrepreneurs Fund at a glance

Eligible Funding

From $50,000 to $500,000

Timeline

Open Date : November 14, 2019

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Filaction

Status

Open

Overview of the Afro-Entrepreneurs Fund program

Growing businesses within Quebec’s Black communities have access to loans ranging from $50,000 to $500,000 for projects in different areas.

Financing terms and conditions

Direct loans available from $50,000 to $500,000 per project.

Eligible projects & activities

The Afro-Entrepreneurs Fund supports small businesses operated by Black entrepreneurs in Quebec, spanning various industry segments. Eligible projects include those within manufacturing, processing, retail, and service industries.

Projects within the manufacturing industry.
Projects within the processing industry.
Projects within the retail industry.
Projects within the service industry.

Examples of admissible projects:

$ 180,000

Launching a digital marketing agency focused on black-owned businesses

$ 270,000

Establishment of a black-owned eco-friendly cleaning products company

$ 180,000

Launching a wellness center offering holistic services

$ 250,000

Opening a new retail boutique for African-inspired fashion

$ 300,000

Expansion of a black-owned tech startup offering innovative software solutions

$ 300,000

Expansion of a black-owned gourmet food processing business

Eligibility criteria of the Afro-Entrepreneurs Fund program

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

How to apply to the Afro-Entrepreneurs Fund program

Preliminary preparation

Identify your company's financing needs.
Check your company’s eligibility as a Black entrepreneur from Quebec.

Consultation of criteria and requirements

Consult the obligations regarding the potential guarantees required by the Fund.
Understand the reimbursement process and possible adjustments.

Preparation of the documentation

Draft a business plan including growth or business succession projects.
Prepare the company's financial statements.

Contact the Afro-Entrepreneurs Fund

Obtain the required forms for the loan application.
Clarify any questions about the application process.

Submission of documents

Send the completed application and all required documents to the address or contact indicated by the Fund.
Follow up with the Fund to confirm the receipt of your application.

Additional information

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.