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BDC Financing — Newcomer Entrepreneur Loan - Canada

BDC Financing — Newcomer Entrepreneur Loan

Last Update: July 22, 2025
Canada
Loans for immigrant entrepreneurs

At a glance

Eligible Funding
  • From $25,000 to $50,000
Timeline
  • Unspecified
Financing Type
Loans and Capital investments
Eligible Industries
  • All industries
Funds Providers
Business Development Bank of Canada
Government of Canada
Program status
Open

Overview

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.

Financing terms and conditions

The BDC Financing — Newcomer Entrepreneur Loan provides specific financial support options to help immigrant entrepreneurs establish and grow their businesses. The financing modalities address common startup challenges by offering flexible and accessible loans.
  • Loan amounts ranging between $25,000 and $50,000 to support business growth.

Activities funded

This grant supports newcomer entrepreneurs in establishing their businesses in Canada. It focuses on overcoming the common challenges such as limited credit history, knowledge gaps of the local market, and cultural barriers.
  • Establishing a new business by newcomers to Canada.
  • Expanding existing business operations for entrepreneurs with less than three years of residency.
  • Accessing resources to aid business growth in new markets.
  • Engaging in training and advisory services to navigate the Canadian business landscape.
  • Building viable business plans and strategies tailored to local market conditions.
Examples of admissible projects:
$ 25,000
Opening a café specializing in artisanal coffees
$ 35,000
Launching a non-profit organization to provide after-school programs
$ 35,000
Opening a community-focused gym and wellness center
$ 30,000
Expanding a digital marketing agency
$ 30,000
Establishing a tech start-up focusing on healthcare solutions
$ 40,000
Starting a fashion boutique featuring sustainable clothing

Eligibility

Eligibility for the Newcomer Entrepreneur Loan from BDC is based on several key criteria related to the immigrant entrepreneur's status and business operations.
  • The business must have been in operation for at least 12 months and generated revenues.
  • The entrepreneur must have immigrated to Canada less than three years ago.
  • The applicant must have permanent resident status or protected person status in Canada.
  • The entrepreneur needs to have a viable business plan.

Who is eligible?

This grant helps immigrant entrepreneurs who have faced challenges related to credit history, understanding the local business environment, and language barriers succeed in Canada. Applicants should meet specific criteria to be considered for the grant.
  • Little to no credit history is acceptable.
  • Applicants must have limited knowledge of the Canadian business environment.
  • Cultural and language barriers faced by the applicant are considered.

Who is not eligible

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

Eligible expenses

This grant does not specify particular projects or activities that are eligible. Instead, it provides financial support and resources for newcomer entrepreneurs looking to establish or grow their businesses in Canada. The focus is on offering access to loans, mentoring, and advisory services to help overcome challenges faced by immigrant business owners.

Selection 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

How to apply

1

Eligibility Confirmation

  • Ensure you meet all the eligibility criteria such as having permanent resident status and a viable business plan.
  • Verify that your business has been in operation for at least 12 months and is generating revenues.
2

Preparation

  • Gather all necessary documentation, including proof of business operation and revenue generation.
  • Prepare a comprehensive business plan to support your application.
  • Familiarize yourself with any content BDC offers in your native language if needed.
3

Complete the Application

  • Visit the BDC website to access the application for the Newcomer Entrepreneur Loan.
  • Download and fill out the application form with accurate and complete information.
4

Submit Application

  • Submit your completed application form along with all necessary documents directly to BDC through their online portal or as instructed on their website.
  • Ensure submission is done before any specified deadlines.
5

Confirmation and Follow-Up

  • Receive confirmation of your application submission from BDC, typically via email.
  • Keep this confirmation for your records and wait for further communication regarding approval or additional requirements.

Additional information

Here are additional relevant details for newcomer entrepreneurs seeking financing from BDC:
  • BDC provides resources in multiple languages, including Arabic, Punjabi, Simplified Chinese, Traditional Chinese, Tagalog, and Spanish, to assist those less comfortable with English or French.
  • Potential applicants can access between $25,000 and $50,000 without needing a credit history under certain conditions.
  • The Newcomer Entrepreneur Loan is specifically tailored for immigrants who have been in Canada for less than three years and are running viable businesses that have been operational for at least 12 months.
  • For businesses less than 12 months old, Futurpreneur Canada offers additional financing options for entrepreneurs aged 18 to 39, with up to $60,000 in funding and two years of mentoring.
Apply to this program

Frequently Asked Questions about the BDC Financing — Newcomer Entrepreneur Loan Program

Here are answers to the most common questions about the BDC Financing — Newcomer Entrepreneur Loan. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the BDC Financing — Newcomer Entrepreneur Loan?

How much funding can be received?

What expenses are eligible under BDC Financing — Newcomer Entrepreneur Loan?

What is the deadline to apply?

Is the BDC Financing — Newcomer Entrepreneur Loan a grant, loan, or tax credit?

Who are the financial supporters of the BDC Financing — Newcomer Entrepreneur Loan?

Who is eligible for the BDC Financing — Newcomer Entrepreneur Loan program?

Who can I contact for more information about the BDC Financing — Newcomer Entrepreneur Loan?

Where is the BDC Financing — Newcomer Entrepreneur Loan available?

Apply to this program

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