Futurpreneur Canada Side Hustle

Q: How much funding can be received?

Futurpreneur Canada Side Hustle Funds up to 3% of admissible expenses, capped at $15000 per project.

Q: What is the deadline to apply?

The deadline to apply is not specified.

Q: Is the Futurpreneur Canada Side Hustle a grant, loan, or tax credit?

Futurpreneur Canada Side Hustle is a Partnering and Collaboration

Q: Who are the financial supporters of the Futurpreneur Canada Side Hustle?

Futurpreneur Canada Side Hustle is funded by Futurpreneur Canada

Q: Who is eligible for the Futurpreneur Canada Side Hustle program?

To be eligible for the Futurpreneur Canada Side Hustle program, you must: • The applicant must be a Canadian citizen or permanent resident and physically reside in Canada. • The applicant must be between the ages of 18-39 at the time of application. • The applicant must have a full-time income outside of their side business for the next 12 months.

Q: Who can I contact for more information about the Futurpreneur Canada Side Hustle?

You can contact Futurpreneur Canada.

Q: Where is the Futurpreneur Canada Side Hustle available?

The Futurpreneur Canada Side Hustle program is available across Canada.

Q: Are startups eligible for the Futurpreneur Canada Side Hustle program?

Yes, startups are eligible to apply for the Futurpreneur Canada Side Hustle program.

Q: Are youth (under 40) eligible for the Futurpreneur Canada Side Hustle program?

Yes, youth under 40 are eligible to apply for the Futurpreneur Canada Side Hustle program.

Last Update: July 22, 2025

Canada

Loan for young professionals to develop a side business

At a glance

Eligible Funding

Max. $15,000
Up to 3% of project cost

Timeline

Unspecified

Financing Type

Partnering and Collaboration

Expert Advice

Loans and Capital investments

Eligible Industries

All industries

Funds Providers

Unspecified

Program status

Open

Overview

If you're a young professional (18 to 39 years old) with a full-time job, you can get up to $15,000 and mentoring to launch or grow a side business.

Financing terms and conditions

The Futurpreneur Canada Side Hustle program provides flexible financing with terms designed for young entrepreneurs maintaining full-time employment. The program's loan structure offers competitive interest rates and support features.

Financing up to $15,000 with a term over four years.
Interest charged at CIBC’s prime rate plus 3%, capped based on prime rate thresholds.
Interest-only payments are required for the first year.
Principal repayments are amortized over the remaining three years with equal monthly installments.
No penalties for early repayment are included.
A one-time loan management fee of 1% of the total loan amount is applied at disbursement.

Activities funded

The Futurpreneur Canada Side Hustle Program is designed to assist young Canadian entrepreneurs in launching or growing their side businesses while maintaining full-time employment. The eligible activities focus on providing financial support, mentorship, and business development resources to burgeoning entrepreneurs.

Provision of financial loans up to $15,000 for startup businesses.
Access to two years of free mentorship tailored to individual business needs.
Facilitation of networking opportunities through a Canada-wide network of entrepreneurs.
Availability of business planning tools and resources, including the 'Rock My Business' workshop series.

Examples of admissible projects:

$ 12,000

Develop a mobile app for local farm produce delivery

$ 14,000

Launch a custom bakery offering unique pastries and cakes

$ 13,500

Establish a drone photography service for real estate

$ 13,000

Launch an online store selling handmade jewelry

$ 11,500

Create a social enterprise offering eco-friendly cleaning services

Eligibility

Eligibility for this grant is determined by specific requirements related to the applicant's status and business operations.

The applicant must be a Canadian citizen or permanent resident of Canada.
The applicant must physically reside in Canada.
The applicant must be between the ages of 18-39 at the time of application.
The applicant must have a full-time income outside of their side business.
The side business must remain the applicant's secondary source of income for the next 12 months.

Who is eligible?

The Futurpreneur Side Hustle Program is designed for young Canadians who maintain full-time employment while looking to support their side businesses. To apply, you need to meet the following criteria:

Be a Canadian citizen or permanent resident of Canada.
Reside physically within Canada.
Be between the ages of 18 and 39 at the time of application.
Have a full-time income outside of your side business, as the side business must remain a secondary source of income for the next 12 months.

Who is not eligible

Some types of companies may not be eligible for the Futurpreneur grant:

Companies not run by Canadian citizens or permanent residents of Canada.
Companies with owners outside the age range of 18-39.
Companies where the side business is not a secondary source of income.

Eligible expenses

This grant supports individuals who are looking to start or grow their side businesses while maintaining full-time employment. Eligible activities focus on providing access to financing, mentorship, and resources essential for business development and growth.

Launch or expansion of a side business.
Participation in a mentorship program for business guidance and support.
Utilization of business planning tools offered by Futurpreneur.
Engagement in networking opportunities through a Canada-wide entrepreneur network.

Eligible geographic areas

This grant is available to Canadian citizens or permanent residents who physically reside in Canada, reflecting national eligibility criteria. This broad eligibility ensures that entrepreneurs from any region within Canada can apply.

All provinces and territories in Canada.

Selection criteria

The Futurpreneur Side Hustle Program in Canada has specific evaluation and selection criteria. Applicants must meet certain eligibility requirements and demonstrate a clear business plan to qualify for up to $15,000 in financing along with mentorship and networking opportunities.

Must be a Canadian citizen or permanent resident residing in Canada.
Age requirement of 18-39 years old.
Must have a full-time income outside of the side business.
Business plan evaluation for viability and growth potential.
Commitment to remaining a secondary source of income for the next 12 months.

How to apply

Determine Eligibility

Review the eligibility criteria to ensure you meet all the requirements such as age, residency, and business stage.
Ensure your side hustle does not replace your full-time income for the next 12 months.

Prepare Business Plan and Cash Flow

Utilize Futurpreneur’s business planning tools, such as the Business Plan Writer, to draft your business plan and financial forecasts.
Ensure your business plan and 24-month cash flow projections are complete before applying.

Sign Up for Assistance

Sign up via the Futurpreneur website to get connected with a team member for guidance on the loan application process.
Indicate if you need assistance finalizing your business plan when signing up.

Submit Application

If your business plan and cash flow are ready, proceed to submit your application through the Futurpreneur submission platform linked on their site.
Ensure all required fields are completed in the application form.
Upload all necessary supporting documents as outlined in the application requirements.

Confirmation and Follow-up

Receive confirmation of your application submission via email.
Keep track of any follow-up communications from Futurpreneur regarding your application status.

Additional information

Here are additional relevant details for this grant:

The mentorship is mandatory and provided as part of the loan package; it is not available separately.
Access to networking opportunities through a Canada-wide network of entrepreneurs is included.
Interest-only payments are available for the first year.
There is no penalty for early repayment of the loan.
A one-time loan management fee of 1% is charged at the time of disbursement.
The interest rate is CIBC's prime rate plus 3%, with a cap under certain conditions.
Free resources are available, such as the "Rock My Business" workshop series, to aid in business planning and development.

Apply to this program

Frequently Asked Questions about the Futurpreneur Canada Side Hustle Program

Here are answers to the most common questions about the Futurpreneur Canada Side Hustle. 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.