Women Entrepreneurship Loan Fund
Canada
Loans for women entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|openingDateJune 28, 2022
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Innovation Canada
- Innovation, Science and Economic Development Canada (ISED)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Receive a microloan of up to $50,000 to start or grow your business if you are a woman entrepreneur, particularly if you are a start-up, from an underrepresented group or a sole proprietorship.
grant_single_labels|projects
The Women Entrepreneurship Loan Fund is available to companies located in Canada, as specified by the participating organizations. Eligible geographical areas include all provinces and territories across Canada.
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
grant_single|admissibleProjectsExample
$50,000
Starting a mobile hair salon for low-income women
$50,000
Opening a new bakery specializing in gluten-free products
$50,000
Launching an eco-friendly clothing brand
$50,000
Establishing a local farm-to-table restaurant
$50,000
Creating a tech startup focusing on AI solutions for small businesses
$50,000
Launching an online platform for Indigenous art
grant_single_labels|admissibility
Eligibility for the Women Entrepreneurship Loan Fund is determined by specific criteria targeted at women entrepreneurs who face challenges in accessing financing.
- The applicant must be a woman entrepreneur.
- The loans are particularly aimed at start-ups, underrepresented groups, or sole proprietorships that have difficulty in accessing financing.
grant_eligibility_criteria|who_can_apply
This program targets women entrepreneurs in Canada, particularly those who are starting new ventures, belong to underrepresented groups, or operate sole proprietorships. The aim is to facilitate access to financing for women who traditionally face barriers in securing capital for business growth. Loans are available up to $50,000 to support these businesses.
grant_eligibility_criteria|eligible_expenses
This fund aims to provide financial support to women entrepreneurs in Canada, particularly for start-up businesses and underrepresented groups. The loans are intended to help overcome the financial barriers women face in business development.
- Funding for start-up businesses led by women entrepreneurs.
- Support for underrepresented groups of women in entrepreneurship.
- Loans to sole proprietorships operated by women.
grant_eligibility_criteria|zone
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
grant_single_labels|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
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Identify Appropriate Organization
- Visit the websites of the selected delivery organizations: WEOC, NACCA, Northumberland, Coralus, and Evol.
- Determine which organization best suits the needs of your business based on their specific focus and regional service providers.
- Step 2: Review Eligibility and Application Requirements
- Check the specific eligibility criteria and application requirements of the chosen delivery organization.
- Review any provincial or territorial service provider specifics if applicable to your location.
- Step 3: Prepare Application Documents
- Compile necessary documents such as business plans, financial statements, and personal identification.
- If applicable, prepare a statement on how the loan will be used to start or grow your business.
- Step 4: Complete the Application
- Fill out the application form provided by the chosen delivery organization on their website.
- Ensure all information is accurately provided and that the form is fully completed.
- Step 5: Submit Your Application
- Submit the application electronically through the delivery organization’s portal or follow their specified submission method.
- Apply within specified deadlines as applicable to ensure consideration.
- Step 6: Confirmation and Follow-up
- Receive confirmation of application submission, which may vary by organization.
- Monitor email or contact from the organization for any follow-up action required.
Apply to this program
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.
