The Black Entrepreneur Startup Program, launched in March 2021, is designed for Black entrepreneurs aged 18-39. Delivered by a team with lived experience, the program offers startup loan financing, mentorship, and networking opportunities. Funded by RBC, with additional loan financing from BDC, participants can receive between $5,000 to $60,000 in inclusive startup loans and apply for up to $40,000 in follow-on financing based on two years of successful business performance.
Key Benefits:
- Inclusive Financing
Receive $5,000 to $60,000 in startup loans, with up to $40,000 funded by RBC and $20,000 by BDC. - Mentorship
Up to two years of one-on-one expert mentorship. - Resources
Access tools like the Business Plan Writer and Cash Flow Template to support your business growth. - Networking Opportunities
Engage with a national network of Black entrepreneurs, leaders, and Black-led community organizations. - Follow-On Financing
Apply for up to $40,000 in additional funding based on the first two years of business success.
Eligibility Requirements:
- Must self-identify as Black and be a Canadian citizen or permanent resident, aged 18-39.
- If there are two owners, the business must be majority Black-owned (>50%); if more than two owners, the business must be at least 25% Black-owned.
For more information, visit the Black Entrepreneur Startup Program website.
