grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|fromMinToMax
grant_single|deadlines
  • grant_single|openingDateNovember 14, 2019
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Manufacturing
  • Retail trade
  • Other services (except public administration)
grant_single|grantors
  • Filaction
grant_single|status
grant_card_status|open

grant_single_labels|preview

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

grant_single_labels|projects

This grant is specifically aimed at businesspeople from a black community running companies within Quebec. The focus is on supporting entrepreneurs in this particular province of Canada to foster economic growth and empowerment within these communities.
  • Businesses located in Quebec, Canada.
grant_single|admissibleProjectsExample

$180,000

Toronto
Launching a digital marketing agency focused on black-owned businesses

$270,000

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

$180,000

Halifax
Launching a wellness center offering holistic services

$250,000

Montreal
Opening a new retail boutique for African-inspired fashion

$300,000

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

$300,000

Quebec City
Expansion of a black-owned gourmet food processing business

grant_single_labels|admissibility

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.

grant_eligibility_criteria|who_can_apply

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.

grant_eligibility_criteria|eligible_expenses

This fund is designed to support entrepreneurial ventures across a wide range of industries in Quebec's Black community. Eligible projects span numerous sectors, offering financial backing to foster business growth and innovation.
  • Businesses in the manufacturing industry seeking capital for expansion or equipment purchase.
  • Processing enterprises aiming to scale operations or enhance production capabilities.
  • Retail businesses looking for financing to broaden market reach or stock inventory.
  • Service industry companies requiring investment to improve service delivery or enter new markets.

grant_single_labels|criteria

There are evaluation and selection criteria for this grant. The evaluation and selection criteria include:
  • Business viability and growth potential
  • Capacity for loan repayment
  • Alignment with the fund's mission and target community
  • Quality of the project proposal and business plan

grant_single_labels|register

  • Step 1: Research and Eligibility Confirmation
    • Verify that your business is eligible for the Afro-Entrepreneurs Fund, ensuring it operates within Quebec and is led by a member of a black community.
    • Ensure your project aligns with the industries covered by the fund.
  • Step 2: Project Proposal Preparation
    • Draft a comprehensive proposal detailing your business plan, financial needs, and how the funds will support business growth.
    • Include information on the management team, projected financial statements, and market analysis.
  • Step 3: Gather Required Documentation
    • Prepare necessary financial documents such as balance sheets, income statements, and cash flow projections.
    • Compile other supporting documents that may be required, such as proof of business registration and identification for owners.
  • Step 4: Application Submission
    • Submit your application, including the project proposal and all required documents, through the specified method provided by the Afro-Entrepreneurs Fund.
    • Ensure all parts of the application are complete and accurate before submission.
  • Step 5: Await Response
    • Wait for a response from the Afro-Entrepreneurs Fund regarding the outcome of your application.
    • Be prepared to provide further information or clarification if requested.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • Loan conditions, such as repayment terms and interest rates, might be tailored to individual business needs.
  • The fund could require collateral when the project's risk level necessitates it.
  • Recurring financial updates to the fund are part of the loan agreement, ensuring transparency and accountability.
  • There is an emphasis on flexibility, allowing for unique arrangements regarding loan usage and repayment structure.

grant_single_labels|documents

Afro-Entrepreneurs Fund

Apply to this program

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