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Futurpreneur Canada
Financing and mentorship for young Black entrepreneurs
Helps Black entrepreneurs aged 18-39 start their businesses with loans up to $75,000 and mentoring support. Offers additional financing opportunities up to $40,000.
Inclusive startup loan financing from $5,000 to $75,000 (up to $50,000 from Futurpreneur/RBC and up to $25,000 from BDC), up to two years of 1-1 expert mentorship, access to business resources (e.g., business plan writer, cash flow template), and networking opportunities. It also offers the opportunity to apply for up to $40,000 in follow-on financing based on successful business performance.
Business Size: small
Region: Canada
Demographics: Black entrepreneurs, youth
Other Criteria: Self-identify as Black, Canadian citizen or permanent resident, Aged 18-39 at time of application, Physically reside in Canada, Looking to launch a business or have been operating full time for 24 months or less, Business must be majority Black-owned (>50%) if two partners/owners, Business must be at least 25% Black-owned (≥25%) if more than two partners/owners, Demonstrate some training or experience related to business idea, Business will create full-time sustainable employment for the applicant(s), Produce a complete and viable business plan and cash flow, Agree to a personal credit check, Loan proceeds will not be used for refinancing existing debt, Discharged from bankruptcy for at least five years (if applicable), Federal, provincial, and municipal taxes are paid up to date, Not named as a party to a lawsuit, Have majority control over the applicant business and its activities, Demonstrate socially acceptable content and activities of the business, Revenue generating products or services are ready for market (not in the research and development phase)
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This program is available to small businesses located in Canada.
This program offers funding up to $75,000 (minimum $5,000).
This program accepts applications on a rolling basis.
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