Women Entrepreneurship Loan Fund
At a glance
- Max. $50,000
- Open Date : June 28, 2022
- All industries
- Science and Economic Development Canada
- Innovation Canada
- Government of Canada
Overview
Eligibility criteria
The Women Entrepreneurship Loan Fund provides loans of up to $50,000 to women entrepreneurs, particularly for start-ups, underrepresented groups, or sole proprietorships facing challenges in accessing financing.
- Applicants must be women entrepreneurs.
- Loans are available for start-ups, underrepresented groups, or sole proprietorships.
- Applicants can receive loans of up to $50,000.
Eligible expenses
The Women Entrepreneurship Loan Fund provides loans of up to $50,000 to women entrepreneurs, particularly for start-ups, underrepresented groups, or sole proprietorships. Eligible expenses may include:
- Startup costs
- Working capital
- Equipment purchases
- Marketing and promotional expenses
- Operating expenses
Eligible projects & activities
There are eligible activities for the Women Entrepreneurship Loan Fund. The fund supports women entrepreneurs with loans of up to $50,000 for activities such as:
- Start-up businesses
- Underrepresented groups
- Sole proprietorships
Eligible geographic areas
There are specific geographic areas mentioned for this grant. The delivery organizations and service providers are divided by province or territory.
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
- Show All
Evaluation & selection criteria
There are evaluation and selection criteria for the Women Entrepreneurship Loan Fund. The criteria include:
- Demonstrated need for financing
- Viability of the business
- Ability to repay the loan
- Eligibility requirements of the delivery organizations
How to apply
- Step 1: Visit the website of the selected delivery organization providing loans to women entrepreneurs.
- Step 2: Determine if loans are available for your business by reviewing the loan application details on the organization's website.
- Step 3: Follow the application instructions provided on the organization's website to apply for the Women Entrepreneurship Loan Fund.
Women Entrepreneurship Loan Fund Summary
The Women Entrepreneurship Loan Fund aims to support women entrepreneurs in Canada by providing loans of up to $50,000 to help them start or grow their businesses. Several delivery organizations have been selected to facilitate this program and are accepting loan applications from women entrepreneurs across various provinces and territories.Women Entrepreneurship Loan Fund Details
The Women Entrepreneurship Loan Fund is part of the Women Entrepreneurship Strategy (WES) initiated by the Government of Canada to promote gender equality and empower women economically. With a budget of $55 million allocated in 2021, this fund focuses on addressing the financing barriers faced by women entrepreneurs, particularly those in underrepresented groups, start-ups, and sole proprietorships.
The program provides loans of up to $50,000 to enable women entrepreneurs to access capital and support their business ventures. The selected delivery organizations, including the Women's Enterprise Organizations of Canada (WEOC) and the National Aboriginal Capital Corporations Association (NACCA), are responsible for reviewing loan applications and providing the necessary financial assistance.
Women entrepreneurs can apply for loans through the designated organizations based on their province or territory. The program aims to empower women in business, encourage entrepreneurship, and contribute to the economic growth and success of women-led businesses in Canada.
By providing access to capital and financial support, the Women Entrepreneurship Loan Fund aims to create a more inclusive and supportive environment for women entrepreneurs, helping them overcome challenges and achieve their business goals. The Government of Canada remains committed to advancing gender equality and supporting women entrepreneurs through initiatives like the WES and the Women Entrepreneurship Loan Fund.
