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: 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: • At least 50% owned and led by a person identifying as female • Must be aware of social and environmental issues and align with sustainable development values • Majority of business sectors are eligible

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: September 8, 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

Evol

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

Conventional loan amounts ranging from $20,000 to $50,000.
The maximum amortization period is five years.
Interest rates are calculated based on the assessed risk level.
Application and loan monitoring fees apply.
Possible moratorium at the granting of the loan and during the loan term, including for parental leave.

Activities funded

Acquisition of tangible and intangible assets for business growth.
Development and commercialization of new products and services.
Purchase or redemption of business shares as part of business succession or ownership transfer.

Eligibility

The company must be owned and managed by at least one person who identifies as female, holding at least 50% of shares and voting rights (for business succession, a plan must be presented to acquire at least 50% ownership and control over time).
The company must be aware of social and environmental issues, and its activities must not conflict with sustainable development values.
The majority of business sectors are eligible.

Who is eligible?

Companies majority-owned and led by individuals identifying as women
Businesses in most sectors of activity (except those contrary to sustainable development values)

Who is not eligible

Companies whose activities go against sustainable development values.

Eligible expenses

Acquisition of tangible and intangible assets
Working capital
Product development expenses
Commercialization of new products and services
Purchase or 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

Interest rates are established based on the assessed risk level of the business.
Fees for application analysis and ongoing file review apply.
Applicants may benefit from a payment deferral at the start or during the loan term.
A payment deferral option is available specifically in cases of 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.