BDC Financing — Newcomer Entrepreneur Loan
Canada
Loans for immigrant entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Business Development Bank of Canada (BDC)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
If you immigrated to Canada within the past 3 years, you can get between $25,000 to $50,000, along with expert advice, to start your own business.
grant_single_labels|projects
Newcomer entrepreneurs in Canada can access financing and support for activities such as:
- Business expansion
- Purchasing equipment
- Marketing and advertising
- Hiring employees
- Training and development
grant_single|admissibleProjectsExample
$25,000
Vancouver
Opening a café specializing in artisanal coffees in Vancouver.
$30,000
Toronto
Expanding a digital marketing agency in Toronto.
$35,000
Calgary
Launching a non-profit organization to provide after-school programs in Calgary.
$40,000
Ottawa
Starting a fashion boutique featuring sustainable clothing in Ottawa.
$30,000
Montréal
Establishing a tech start-up focusing on healthcare solutions in Montréal.
$35,000
Halifax
Opening a community-focused gym and wellness center in Halifax.
grant_single_labels|admissibility
The eligibility criteria for this grant are:
- Have been in operation for at least 12 months and generated revenues
- Immigrated to Canada less than three years ago
- Have a permanent resident status or protected person status
- Have a viable business plan
grant_eligibility_criteria|who_can_apply
Newcomer entrepreneurs who have been in operation for at least 12 months, generated revenues, and immigrated to Canada less than three years ago are eligible for this grant. They must have permanent resident status or protected person status and a viable business plan.
- Entrepreneurs who have recently immigrated to Canada
- Businesses operating for at least 12 months
- Businesses generating revenues
- Entrepreneurs with permanent resident status or protected person status
- Entrepreneurs with a viable business plan
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant.
- Businesses that have been in operation for less than 12 months and are not generating revenues
- Entrepreneurs over the age of 39
grant_eligibility_criteria|eligible_expenses
- Salary expenses for employees
- Marketing and advertising costs
- Business development expenses
- Purchase of equipment or inventory
- Rent or lease payments for business premises
grant_single_labels|criteria
There are evaluation and selection criteria for the Newcomer Entrepreneur Loan:
- Length of operation (must be at least 12 months with generated revenues)
- Immigrated to Canada less than three years ago
- Permanent resident status or protected person status
- Viable business plan
grant_single_labels|register
- Step 1: Check eligibility criteria and ensure you meet all requirements
- Have been in operation for at least 12 months and generated revenues
- Immigrated to Canada less than three years ago
- Have a permanent resident status or protected person status
- Have a viable business plan
- Step 2: Apply for the Newcomer Entrepreneur Loan
- Subject to approval
Apply to this program
Grant for Newcomer Entrepreneurs in Canada
The Grant Program for Newcomer Entrepreneurs in Canada
As a specialist in grants in Canada, I have extensive experience in assisting businesses with grant applications. One notable opportunity is the grant program specifically tailored for newcomer entrepreneurs in Canada. This grant, offered by the Business Development Bank of Canada (BDC), aims to support new immigrants who are looking to establish and grow their businesses in the country.
The Grant for Newcomer Entrepreneurs in Canada provides eligible individuals with access to financing between $25,000 and $50,000 to help them kickstart their businesses. This initiative is particularly beneficial for newcomers who may face challenges such as limited credit history, unfamiliarity with the local business environment, and language barriers. The grant aims to bridge these gaps and empower immigrant entrepreneurs to succeed in their business ventures.
To be eligible for this grant, applicants must have been in operation for at least 12 months, generated revenues, immigrated to Canada less than three years ago, hold permanent resident or protected person status, and have a viable business plan. The grant not only offers financial assistance but also provides valuable resources, training, networking opportunities, and partnerships to support the growth and success of newcomer-owned businesses.
Additionally, for newcomers who require financing exceeding $50,000, tailored financing options are available based on their specific business needs and objectives. The grant program encourages innovation, diversity, and entrepreneurship among newcomer communities, contributing to the overall economic growth and prosperity of Canada.
With the support of this grant program, newcomer entrepreneurs can overcome obstacles, access the necessary resources and guidance, and establish thriving businesses in Canada. By empowering immigrant entrepreneurs and fostering a welcoming environment for business growth, the Grant for Newcomer Entrepreneurs in Canada plays a crucial role in building a diverse and vibrant entrepreneurial landscape in the country.
