BDC Financing — Newcomer Entrepreneur Loan
Support for newcomer entrepreneurs
Record updated
- Funding available
- $ 25,000 - $ 50,000
- Deadline
- Open continuously
- Location
- Canada
Overview
BDC's Newcomer Entrepreneur Loan offers up to $50,000 to newcomer entrepreneurs in Canada to help them grow a business. Eligible applicants must have immigrated to Canada less than three years ago, hold permanent resident or protected person status, and have a viable business plan.
At a glance
Funding available
- Maximum funding
- $50,000
- Minimum funding
- $25,000
- Develop strategic partnerships
- Develop workforce skills
Eligible candidates
- Location
- Canada
- Eligible Industries
- All industries
- Annual revenue
- All revenue ranges
- Organisation size
- All organization sizes
- Audience
- Newcomers to Canada
- Legal structures
- Sole proprietorship, For-profit business
Start applying for this program
Take a practical assessment to gain a clear understanding of how well this program aligns with your specific needs and long-term goals.
Availability timeline
Eligibility
Who is eligible?
- Newcomer entrepreneurs.
Who is not eligible
- Businesses operating for less than 12 months.
- Businesses that are not generating revenues.
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.
Eligible geographic areas
- Canada
Activities funded
- Growing your company.
How to apply
- Apply now.
Documents Needed
- Business plan.
- Proof of permanent resident or protected person status.
- Information supporting business operations and revenues.
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
Processing and Agreement
- Subject to approval.
Additional information
- BDC offers content in Arabic, Punjabi, Simplified Chinese, Traditional Chinese, Tagalog, and Spanish.
- The loan is subject to approval.
- Other financing options are available through Futurpreneur Canada and BDC.
Official sources
