How much funding can be received?

The Vancity Unity Women Entrepreneurs Program, in partnership with WeBC, offers up to $100,000 in financing to support women-owned businesses in British Columbia through startup lines of credit and growth loans. The program aims to provide essential funds, business training, and mentoring services to help women entrepreneurs enhance their skills and expand their enterprises.

grant_single_labels|terms_and_conditions

The Vancity Unity Women Entrepreneurs Program provides targeted financing options designed to support the unique needs of women-owned businesses at different stages of growth. These options help ensure access to necessary capital with advantageous terms.

A variable rate line of credit up to $20,000 for startups, with the rate at Vancity Prime +3%.
A variable rate term loan up to $100,000 for growth, with a rate at Vancity Prime +1.5% after an initial interest-free period of six months.
The growth loan offers a maximum term of 60 months.
Both financing options include complimentary business training and mentoring services from WeBC.

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The Vancity Unity Women Entrepreneurs Program provides financing specifically for women-owned businesses that are either in the startup phase or looking to grow their operations. This aims to enhance their access to necessary capital and support systems.

Financing for women-owned startup businesses operating for at least six months to access a line of credit up to $20,000.
Growth loans for women-owned businesses operational for at least 12 months to access funding up to $100,000.
Support from WeBC, including access to business training and mentoring for skill development, risk management, and future planning.

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Eligibility for the Vancity Unity Women Entrepreneurs Program requires adherence to specific criteria related to business ownership, location, and the applicant's profile.

The applicant must be a woman who owns and controls at least 51% of a business.
The business must be registered and located in British Columbia, specifically in the Lower Mainland, Fraser Valley (up to and including Hope), Victoria, or Sea to Sky region.
The applicant must be a Canadian citizen or Permanent Resident.
The applicant must be over 19 years old.
The business must have been operating for at least six months for the line of credit option and at least twelve months for the term loan option.
The business must have a minimum credit score of 680 for the line of credit option.
Applications from outside the specified regions for the Start-Up Option will be reviewed on a case-by-case basis, but the Growth Option is not available outside of Vancity’s lending region.

grant_eligibility_criteria|who_can_apply

The Vancity Unity Women Entrepreneurs Program is designed for women who own and control at least 51% of a business that is registered and located in British Columbia. Eligible applicants must be Canadian citizens or Permanent Residents over the age of 19 years. Additionally, businesses should have been operational for a minimum of six months for the line of credit option and at least twelve months for the growth loan option. The applicants must be located in specific regions including the Lower Mainland, Fraser Valley (up to and including Hope), Victoria, or Sea to Sky region. A minimum credit score of 680 is required for the line of credit option. While the Start-Up Option allows for some discretion for applications from outside the listed areas, the Growth Option is strictly available within Vancity’s lending region.

grant_eligibility_criteria|zone

This grant is intended for companies situated in regions served by the funding organization. The eligible areas for applicants ensure local economic development and support women entrepreneurs effectively.

Businesses located in the Lower Mainland.
Companies based in the Fraser Valley, up to and including Hope.
Enterprises in Victoria.
Organizations operating in the Sea to Sky region.

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Step 1: Initial Inquiry
Email the Unity Women Entrepreneurs Program at unitywomenentrepreneursprogram@vancity.com for inquiries or to express interest in applying.
Step 2: Visit Vancity Website
Navigate to the Vancity website to access detailed program information and application guidance.
Step 3: Prepare Application
Gather and prepare all necessary documents, such as business registration details, proof of ownership, and financial statements.
Ensure that the business meets the eligibility criteria, including being in operation for the required duration and located within the eligible regions.
Step 4: Submit Application
Complete the application process by following the instructions provided on the Vancity website.
Submit your application and supporting documents as per the instructions.
Step 5: Await Further Instructions
Wait for further communication from Vancity regarding the status of your application.

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Here are additional relevant details for this grant:

Complimentary support and advice are provided through WeBC, including access to a resource library and business advisors to aid in business goal achievement.
WeBC offers peer and one-to-one mentoring programs as part of the support services.
There's an emphasis on skill development, risk management, and future planning support from WeBC.
The line of credit option has a simplified approval process, potentially making it quicker compared to traditional options.
For the Growth loan, the first 6 months are interest-free, allowing entrepreneurs some financial relief during the initial period.

grant_single_labels|contact

unitywomenentrepreneursprogram@vancity.com

Apply to this program

Empowering Women Entrepreneurs in British Columbia

The Vancity Unity Women Entrepreneurs Program is designed to bolster the success of women-owned businesses in British Columbia by providing financial support and invaluable mentorship. This initiative facilitates growth and sustainability with accessible loans and comprehensive advisory services from WeBC.

In-Depth Overview of the Vancity Unity Women Entrepreneurs Program

The Vancity Unity Women Entrepreneurs Program serves as a significant boost for women entrepreneurs in British Columbia, focusing on enhancing financial accessibility and providing robust support systems. The partnership between Vancity and WeBC aims to remove barriers that women face in business, fostering a vibrant community of female leaders who can thrive in competitive markets. Through this program, eligible businesses can access startup and growth financing options tailored to the unique challenges faced by women entrepreneurs.

The program offers two main financial products: a startup line of credit and a growth loan. The startup option provides businesses operating for at least six months with a variable-rate line of credit of up to $20,000 at Vancity Prime plus 3%. This is complemented by expert guidance and resources from WeBC, ensuring entrepreneurs have the support needed to effectively manage their business incomes and expenses. The simplified approval process aims to make financial tools more readily available to women, enabling them to concentrate on scaling their businesses.

For those businesses that have been in operation for twelve months or more, the growth loan option is available. This features a larger loan capacity of up to $100,000 at a competitive rate of Vancity Prime plus 1.5%, with a repayment duration of up to 60 months. Notably, the loan is interest-free for the first six months, offering a valuable financial reprieve that helps businesses stabilize and expand their operations without immediate cash flow concerns. By promoting access to sizeable growth capital, Vancity supports the capability of women-owned businesses to increase their productivity and market reach.

A pivotal component of the program is the wrap-around support provided by WeBC. This organization dedicates itself to equipping women entrepreneurs with the necessary tools and networks to succeed. Clients of the Unity Program have free access to WeBC’s practical business training and mentoring services. This involves one-to-one mentoring, peer networking, resource library access, and business consultative services—all designed to cater to the various stages of business development and expansion.

Through mentorship with experienced entrepreneurs, program participants can draw upon a wealth of knowledge and build meaningful connections that foster both personal and professional growth. WeBC’s advisory services guide participants through risk management, skill development, and strategic planning, essential elements that refine business acumen and prepare enterprises for long-term success.

The program is ideally positioned for women entrepreneurs who are 51% owners and operating within regions covered by Vancity, including the Lower Mainland, Fraser Valley, Victoria, and the Sea to Sky area. The commitment to supporting women in these areas underscores Vancity's dedication to nurturing a progressive and inclusive economy.

The Vancity Unity Women Entrepreneurs Program underscores the importance of financial and communal backing in the entrepreneurial landscape. By combining loans with comprehensive business support, this initiative empowers women in business to transcend traditional financial hurdles, offering a pathway to equity and sustainable business practices. Through ongoing mentorship and access to a flourishing business community, the program aims to enhance the business landscape in British Columbia by elevating the capabilities and influence of women entrepreneurs.