How much funding can be received?

Funds up to 250000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Black Entrepreneurship Program — Black Entrepreneurship Loan Fund?

Black Entrepreneurship Program — Black Entrepreneurship Loan Fund is funded by Federation of African Canadian Economics (FACE)

Black Entrepreneurship Program — Black Entrepreneurship Loan Fund

grant_single|update April 5, 2025

Canada

Financial help for Black entrepreneurs

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Loans and Capital investments

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Federation of African Canadian Economics (FACE)

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Get a loan of up to $250,000 (including microloans in some cases) to help your for-profit, Black-led startup business or SME scale up and grow domestically and internationally.

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This loan program offers structured and scalable financing plans aimed at promoting the sustainable growth of Black-owned businesses in Canada. The program provides two key loan types with distinct financing arrangements to best support varying business needs.

Micro Loans ranging from $10,000 to $25,000, delivered by Alterna Savings and Vancity, specifically targeting entrepreneurs in Ontario and British Columbia.
Macro Loans ranging from $25,000 to $250,000, administered by FACE in partnership with the Government of Canada and BDC, with funds segregated between $25,000 to $100,000 and $100,000 to $250,000 based on distinct funding sources.
Flexible repayment terms are available, although specific details are not disclosed in the provided context.

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Investment in capital such as equipment, leasehold improvements, property enhancement, and office equipment.
Working capital covering inventory, salaries, account management, and rent.
Funding short-term receivables, such as maintenance of contract financing.

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$ 195,000

Launching an eco-friendly cleaning product line

$ 250,000

Developing custom software for healthcare providers

$ 200,000

Upgrading manufacturing equipment for increased capacity

$ 225,000

Expanding a digital marketing agency with new tools

$ 160,000

Opening a tech-focused coworking space for entrepreneurs

$ 180,000

Establishing a fresh farm-to-table dining experience

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Eligibility for the Black Entrepreneurship Loan Fund is determined by specific criteria tailored to support Black business owners and entrepreneurs across Canada.

The applicant must be a Black business owner or entrepreneur residing in Canada.
Eligible businesses can be either start-ups or existing entities, with specific funding limits applicable to each.
The applicant must provide a detailed business plan along with financial documents, including historical financial statements and tax returns.
Applicants need to demonstrate the capability of fulfilling the two to three-year financial projections.
The business must be registered and provide a certificate of incorporation or registration.
Applicants must furnish a government-issued photo ID for identification purposes.
Applicants must show evidence of personal and business financial affairs.

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Sole Proprietorships
Corporations (Ltd, Inc)
Partnerships (limited and general)
Social enterprises
For-profit cooperatives

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Non-profit organizations.
Businesses with less than 51% Black ownership.

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Capital investments - equipment, leasehold improvements, property enhancement, office equipment.
Working capital - inventory, salaries, account management, rent, overhead costs.
Financing short-term receivables (e.g., contract maintenance financing).

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This grant is designed to support Black entrepreneurs in specific provinces of Canada through partnerships with local credit unions. The geographical eligibility is limited to ensure effective local administration and economic impact.

Black-owned businesses in Ontario through Alterna Savings.
Black-owned businesses in British Columbia through Vancity.

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The evaluation and selection of projects for this loan program take place in several stages to ensure the viability and potential success of Black-owned businesses in Canada.

Verification of the completeness of the application by the FACE support center.
Review of the financial and administrative documents provided.
Credit analysis conducted by the lending team.
Judgment by the loan committee or credit risk management regarding the loan application.
Administrative and background checks by the partner financial institution.