Funding
Federal Funding
Women Entrepreneurship Loan Fund Through the Women Entrepreneurship Strategy (WES), the Government of Canada is dedicated to improving gender equality and women's economic empowerment, as well as encouraging women entrepreneurs. This new initiative will aim to help women entrepreneurs with smaller amounts of affordable financing, particularly for start-ups, underrepresented groups, or sole proprietorships who may have a harder time getting financing.
Financing + Mentoring - Futurpreneur Canada Futurpreneur is partnering with BDC (Business Development Bank of Canada), to offer financing, mentoring and expertise to get your start-up off the ground and in motion. They are targeting 18–39-year olds who are in need of funding and resources for their start-ups.
BDC — Start-up Financing Obtaining sufficient financing is one of the most difficult tasks for small businesses. BDC provides funds to assist Canadian start-up businesses that have been in operation for at least 12 months and have produced revenues by turning their company ideas into reality. BDC offers up to $250,000 to jumpstart your projects.
Canada Small Business Financing Program—Mentor Works The Canadian government can provide you with up to $1,000,000 in no-interest repaid funding. The Canada Small Business Financing Program was established under the Canada Small Business Financing Act to assist small businesses in growing by providing low-interest loans.
Indigenous Business Initiative For First Nations, Inuit, and Métis companies, the Government of Canada is offering up to $306.8 million in interest-free loans and non-repayable contributions. The Indigenous business initiative is part of the COVID-19 Economic Response Plan of the Canadian government. Aboriginal Financial Institutions and Métis Capital Corporations provide financial assistance. The National Aboriginal Capital Corporations Association and the Métis Capital Corporations are in charge of the programme, which is run in collaboration with Indigenous Services Canada. The support provided by the provinces and territories is reinforced by this federal program.
Entrepreneurs with Disabilities Program This program is for helping entrepreneurs with disabilities to build their business future. Through Western Economic Diversification Canada's Entrepreneurs with Disabilities Program (EDP), Western Canadians with disabilities may obtain access to a network of business experts and a wealth of resources. EDP offers services such as training, development, mentorship and one-on-one counselling.
Funding in New Brunswick and Atlantic Canada
Student Entrepreneurship Summer Employment Program This program provides interest-free funding through loans for students who wish to create summer jobs and significant business experience by operating their own businesses. The Student Entrepreneurship component of the Government of New Brunswick’s summer employment programming offers a $3,000 interest-free loan to assist students in launching their businesses that will produce at least one full-time student summer job and will provide the applicant with significant business experience. Program requirements and application forms can be found in the link provided above.
Impact Atlantic The Impact loan helps foster small and medium-sized businesses in urban Atlantic Canada. Entrepreneurs of all ages can apply for a business start-up loan, while established business owners between 19 and 39 can benefit from expansion financing. Low-interest loans of up to $25,000 are available, with flexible repayment terms and no penalty for early repayment of the principal. The application process is fast and straightforward, so entrepreneurs can reach their goals more quickly and take their business to the next level.
Self-Employment Benefit—Workforce Expansion Unemployed individuals can establish a new business under the Workforce Expansion Self-Employment Benefit Program. During the initial phase of the business, this program offers financial assistance, mentoring, and continuous technical advice. Mentoring encompasses topics such as developing business strategies, bookkeeping, and marketing, tailored to fit individual goals and requirements.