The Black Entrepreneurship Loan Fund is a part of the Black Entrepreneurship Program, which is a partnership between FACE, the government of Canada, BDC and private sector financial institutions. BELF will provide start-ups and existing business with loans of up to $250,000 under a micro or macro loan pilot program. All applicants applying to either the micro or macro loan pilot program will need to have the following with their application:
- Detailed business plan
- Up to date historical financial statements
- Personal statement of affairs
- 2 to 3 years financial projections
- Up to date T1 and T2 income tax returns and notice of assessments.
Eligibility
Eligible Individuals
Eligible Individuals (shareholders and guarantors) must be:
a) at least 18 years old,
b) identify as black and
c) be at minimum a permanent resident of Canada.
Business Ownership
Eligible businesses must be majorly black owned.
Eligible Business Types
- Sole traders
- Partnerships (limited, non-limited)
- Cooporations (Inc, Ltd)
How to apply
For more information, visit: <!–[if gte mso 9]>
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Loan Program - The Federation of African Canadian Economics (facecoalition.com)