Vancity Unity Women Entrepreneurs Program
- Open continuously
Overview
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.
At a glance
Funding available
- Start a business
- Maximum amount : 100,000 $
- Open continuously
Eligible candidates
- All industries
- British Columbia
- For-profit business
- Sole proprietorship
- All revenue ranges
- All organization sizes
- Startups
- Women
Next Steps
Activities funded
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.
Official resources
Eligibility
Who is eligible?
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.
Eligible geographic areas
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.
How to apply
Initial Inquiry
Email the Unity Women Entrepreneurs Program at unitywomenentrepreneursprogram@vancity.com for inquiries or to express interest in applying.
Visit Vancity Website
Navigate to the Vancity website to access detailed program information and application guidance.
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.
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.
Await Further Instructions
Wait for further communication from Vancity regarding the status of your application.
Additional information
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.