Black Entrepreneurship Loan Fund
The Black Entrepreneurship Loan Fund, a component of the Black Entrepreneurship Program (BEP), is a partnership between FACE, the Government of Canada, the BDC and private sector financial institutions. The Fund will provide loans of up to $250,000 to support Black business owners and entrepreneurs across Canada and lay the foundation for future success and long-term change.
The loan program will fund existing businesses (to a maximum of $250,000) and start-ups (to a maximum of $50,000) under two programs; the micro loan pilot program and macro loan program.
All applicants applying to the micro or macro loan programs will need to provide the following documents with their application:
-Detailed business plan
-Up to date historical financial statements
-2 to 3 years financial projections
-Up to date T1 and T2 income tax returns with notice of assessments
-Personal Statement of Affairs (template available)
Click here for more information on required application documents and tools that can help.