Evol — Conventional loans for women entrepreneurs

Q: How much funding can be received?

Evol — Conventional loans for women entrepreneurs Funds up to 50000% of admissible expenses.

Q: What is the deadline to apply?

The application deadline for this grant program was February 28, 2024.

Q: Is the Evol — Conventional loans for women entrepreneurs a grant, loan, or tax credit?

Evol — Conventional loans for women entrepreneurs is a Loans and Capital investments

Q: Who are the financial supporters of the Evol — Conventional loans for women entrepreneurs?

Evol — Conventional loans for women entrepreneurs is funded by Evol

Q: Where is the Evol — Conventional loans for women entrepreneurs available?

The Evol — Conventional loans for women entrepreneurs program is available across Canada.

Q: Are women eligible for the Evol — Conventional loans for women entrepreneurs program?

Yes, women are eligible to apply for the Evol — Conventional loans for women entrepreneurs program.

Last Update: July 22, 2025

Canada

Loan fund for women entrepreneurs focused on sustainable development

At a glance

Eligible Funding

From $20,000 to $50,000

Timeline

Open Date : November 15, 2023
Closing date : February 28, 2024

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Funds Providers

Unspecified

Program status

Closed

Overview

The grant offers funding between $20,000 and $50,000 to businesses that are owned and led by at least one female-identifying person, focusing on enterprises that are socially and environmentally conscious and align with sustainable development values. Eligible activities include the acquisition of tangible and intangible assets, working capital, product development, commercialization of new products and services, and purchase or buyback of shares.

Financing terms and conditions

This funding offers tailored financial solutions to support women entrepreneurs in diverse sectors while encouraging sustainable business practices. The modalities are designed to provide flexibility and support at various stages of business development.

Loan amounts range from $20,000 to $50,000.
Funding can be used for the acquisition of tangible and intangible assets, working capital, product development, and commercialization, as well as purchasing and repurchasing shares.
Interest rates are determined based on the level of risk associated with the business.
The maximum amortization period for the loan is five years.
Applicable fees for application analysis and follow-up.
Potential for loan deferment at the time of granting and during the loan period, including in cases of parental leave.

Activities funded

This grant aims to empower women-led businesses through financial support for various business initiatives. Eligible activities focus on economic growth, sustainability, and innovation within different sectors.

Acquisition of tangible and intangible assets.
Working capital financing.
Product development and commercialization of new products and services.
Purchase and redemption of shares.

Eligibility

Eligibility for this grant is determined by specific requirements related to the ownership structure and business practices of the company.

The company must be owned and led by at least one person identifying as female, holding at least 50% of the shares and voting rights. For succession businesses, a plan must be presented to acquire at least 50% of the shares and votes eventually.
The company must be aware of social and environmental issues and ensure that its activities align with sustainable development values.
The company must operate within most sectors of activity.

Who is eligible?

This grant is specifically available for businesses that are majority-owned and led by individuals identifying as female. The eligible businesses must have at least 50% ownership and voting rights held by a person of the female gender. For businesses in transition, there should be a succession plan that includes the acquisition of at least 50% ownership and voting rights eventually. Additionally, the businesses must be socially and environmentally conscious, ensuring their activities align with sustainable development values.

Eligible expenses

The grant supports various expenses essential for business growth and development, particularly for women entrepreneurs.

Acquisition of tangible and intangible capital assets.
Working capital requirements.
Product development initiatives.
Development and commercialization of new products and services.
Purchase and buyback of shares.

How to apply

Verification of eligibility criteria

Ensure that the business is owned and operated by at least one person identifying as female.
Confirm that the business has an awareness of social and environmental issues.

Preparation of documentation

Prepare a detailed business plan outlining the intended use of the loan.
Gather financial documents demonstrating the viability of the business.
Establish a succession plan if required.

Calculation of financial needs

Assess the amounts needed for the acquisition of fixed assets and for working capital.
Identify new product or service opportunities to be financed.

Submission of the application

Complete the loan application form provided by the appropriate financial institution.
Submit all required documents, including financial proofs.

Analysis of the application

Participate in possible exchanges with the funding organization to clarify any requested information.

Funding decision

Receive the final approval, confirmation of the repayment period and interest rates.
Negotiate the terms of a moratorium if necessary, for example, in case of parental leave.

Additional information

Here are additional relevant details for this grant:

The interest rate for the loan is based on the level of risk associated with the venture.
The maximum amortization period for the loan is five years.
Applicants will incur analysis and follow-up fees during the processing of their application.
A deferral of payments (moratorium) is available both at the beginning and during the loan term.
An additional payment deferral option is available for parental leave.

Apply to this program

Frequently Asked Questions about the Evol — Conventional loans for women entrepreneurs Program

Here are answers to the most common questions about the Evol — Conventional loans for women entrepreneurs. 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 Evol — Conventional loans for women entrepreneurs?

How much funding can be received?

What expenses are eligible under Evol — Conventional loans for women entrepreneurs?

What is the deadline to apply?

Is the Evol — Conventional loans for women entrepreneurs a grant, loan, or tax credit?

Who are the financial supporters of the Evol — Conventional loans for women entrepreneurs?

Who is eligible for the Evol — Conventional loans for women entrepreneurs program?

To be eligible for the Evol — Conventional loans for women entrepreneurs program, you must: The business must be owned and managed by at least one individual identifying as female, holding at least 50% of the shares and votes. The business should be aware of social and environmental issues and its activities should not contradict sustainable development values. The majority of business sectors are eligible.