
Afro-Entrepreneurs Fund
At a glance
- From $50,000 to $500,000
- Open Date : November 14, 2019
Overview
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.
Activities funded
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.
Eligibility
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
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.
Contacts
Frequently Asked Questions about the Afro-Entrepreneurs Fund Program
What is the Afro-Entrepreneurs Fund?
How much funding can be received?
What expenses are eligible under Afro-Entrepreneurs Fund?
What is the deadline to apply?
Is the Afro-Entrepreneurs Fund a grant, loan, or tax credit?
Who are the financial supporters of the Afro-Entrepreneurs Fund?
Who is eligible for the Afro-Entrepreneurs Fund program?
Who can I contact for more information about the Afro-Entrepreneurs Fund?
Where is the Afro-Entrepreneurs Fund available?
Are Black Canadians eligible for the Afro-Entrepreneurs Fund program?
More programs like this

Financing to respond to the offensive of new tariffs and for initiatives for resilient and exporting companies (FRONTIERE)
Investissement Québec (IQ)
Panorama Program
Investissement Québec (IQ)
ESSOR – Component 2: Support for investment projects promoting productivity and business expansion
Investissement Québec (IQ)
Program Supporting the Development of Tourist Attractions — Stream 2
Investissement Québec (IQ)
Program Supporting the Development of Tourist Attractions — Stream 1
Investissement Québec (IQ)
REGI — Business Scale-up and Productivity — CED (QC) – Private sector
Canada Economic Development for Quebec Regions (CED)
ESSOR – Component 3: Support for investment projects to reduce environmental footprint
Investissement Québec (IQ)
Financial assistance for infrastructure projects supporting the mining sector (ENIAM)
Gouvernement du Québec
Circular Economy Fund
Fondaction