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Black Entrepreneurship Program — Black Entrepreneurship Loan Fund
Financial help for Black entrepreneurs
Last Update: March 4, 2026
Funding available
$ 10,000 - $ 250,000
Timeline
- Open continuously
Location
Canada
Overview
This program offers loans of up to $250,000 to support Black entrepreneurs and business owners across Canada. It finances business plans, financial projections, registration documents, and other required materials for micro and macro loans.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Start a business
- Renovate or expand facilities
Eligible Funding
- Maximum amount : 250,000 $
- Minimum amount : 10,000 $
Timeline
- Open continuously
Eligible candidates
Eligible Industries
- All industries
Location
- Canada
Legal structures
- Sole proprietorship
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Black Canadians
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- 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.
Documents Needed
- Detailed business plan
- Up-to-date historical financial statements
- Two- to three-year financial projections
- Up-to-date business and owner tax returns with Notices of Assessment
- Personal Statement of Affairs
- Government-issued photo ID
- Business certificate of incorporation or registration
Eligibility
Who is eligible?
- Sole proprietorships
- Corporations
- Partnerships
- Social enterprises
- For-profit cooperatives
Who is not eligible
- Non-profit organizations.
- Businesses with less than 51% Black ownership.
Eligible expenses
- Capital investments such as equipment, leasehold improvements, property improvements, and office equipment.
- Working capital, including inventory, salaries, account management, rent, and overhead.
- Short-term receivables financing, including contract maintenance financing.
Ineligible Costs and Activities
- Applications from non-profit organizations.
- Businesses with less than 51% Black ownership.
Eligible geographic areas
- Canada
- Ontario
- British Columbia
Selection criteria
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.
How to apply
1
Register for the loan
- Create an account on the FACE platform.
- Enter preliminary information required for registration.
2
Complete Application
- Fill out the loan application form available on the FACE platform.
- Ensure all fields are correctly filled with accurate information.
3
Prepare Required Documents
- Draft a detailed business plan.
- Prepare up-to-date historical financial statements (Balance Sheet and Income Statement).
- Create two to three-year financial projections.
- Collect up-to-date tax returns for both business (T2) and owner (T1) with Notice of Assessments.
- Compile a Personal Statement of Affairs.
- Ensure availability of a government-issued Photo ID.
- Get a Business Certificate of incorporation/registration.
4
Submit Application
- Upload all required documents to the FACE platform as per the application guidelines.
- Review the entire application for completeness and accuracy before submission.
5
Application Review
- FACE Support Centre (FSC) reviews applications for completeness.
- Documents are checked and verified for accuracy and validity.
6
Credit Review
Credit review is conducted by the Lending team using the submitted information.
7
Loan Adjudication
Loan request adjudication is performed by the Loans Committee or Credit Risk Management.
8
Administrative and Background Checks
The Financial Institution partner carries out necessary background checks.
9
Loan Disbursement
- Receive the loan offer.
- Accept the offer to proceed.
- Loan is disbursed upon final acceptance.
Processing and Agreement
- Applications are first reviewed for completeness by FACE Support Centre.
- The lending team then performs a credit review.
- The loan request is adjudicated by the Loans Committee or Credit Risk Management.
- The financial institution partner completes administrative and background checks.
- An offer is issued and must be accepted before disbursement.
Additional information
- Application review includes a credit assessment conducted by lending professionals.
- Approved microloans may be fulfilled through local credit unions, depending on province.
- An administrative fee applies for microloans, deducted from the loan amount after approval.
- Both start-ups and existing businesses must submit two to three-year financial projections.
Frequently Asked Questions about the Black Entrepreneurship Program — Black Entrepreneurship Loan Fund Program
What is the Black Entrepreneurship Program — Black Entrepreneurship Loan Fund?
This program offers loans of up to $250,000 to support Black entrepreneurs and business owners across Canada. It finances business plans, financial projections, registration documents, and other required materials for micro and macro loans.
How much funding can be received?
Black Entrepreneurship Program — Black Entrepreneurship Loan Fund Funds up to $250,000 of admissible expenses.
Who is eligible for the Black Entrepreneurship Program — Black Entrepreneurship Loan Fund program?
To be eligible for the Black Entrepreneurship Program — Black Entrepreneurship Loan Fund program, you must:
The applicant must be a Black business owner or entrepreneur.
Businesses must provide two to three-year financial projections.
Applicants must submit the required documentation, including a detailed business plan and up-to-date financial statements.
What expenses are eligible under Black Entrepreneurship Program — Black Entrepreneurship Loan Fund?
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.
Who can I contact for more information about the Black Entrepreneurship Program — Black Entrepreneurship Loan Fund?
You can contact Federation of African Canadian Economics (FACE).
Where is the Black Entrepreneurship Program — Black Entrepreneurship Loan Fund available?
The Black Entrepreneurship Program — Black Entrepreneurship Loan Fund program is available across Canada.
Is the Black Entrepreneurship Program — Black Entrepreneurship Loan Fund a grant, loan, or tax credit?
Black Entrepreneurship Program — Black Entrepreneurship Loan Fund is a Loans and Capital investments