Black Entrepreneur Startup Program was launched in March 2021, and it is delivered by a team with lived experience and builds upon all the offerings of Futurpreneur’s core Startup Program. Funded by RBC, with additional loan financing from BDC, it provides participants with $5,000 to $60,000 in inclusive startup loan financing and networking opportunities. It also offers the opportunity to apply for up to $40,000 in follow-on financing, funded by RBC, based on the first two years of successful business performance.
The Black Entrepreneur Program for Black entrepreneurs age 18-39 provides startup loan financing and up to two years of mentorship, plus access to resources and networking opportunities with fellow entrepreneurs across Canada.
This program is funded by RBC, with additional loan financing from BDC.
Eligibility Requirements
The following are the high-level eligibility requirements for the Black Entrepreneur Startup Program:
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- Participants must self-identify as Black and be Canadian citizens or permanent residents age 18-39; and
- When there are only two partners (owners) of the applicant business, the business must be majority Black-owned (> 50%); and
- When there are more than two partners (owners), the business must be at least 25% Black-owned (≥25%).
Benefits
Inclusive Financing
Financing from $5,000 to $60,000 in startup loan financing * (up to $40,000 of which is delivered by Futurpreneur, funded by RBC; and up to $20,000 loaned by BDC)
Mentorship
Up to two years of 1-1 expert mentorship.
Resources
- From our interactive Business Plan Writer to our Cash Flow Template, gain access to the resources you need to succeed.
Networking Opportunities
- Engage with a national network of Black entrepreneurs, leaders and Black-led community organizations at a range of entrepreneurship events
Follow-On Financing
The opportunity to apply for up to $40,000 in follow-on financing funded by RBC, based on the first two years of successful business performance.
For More Information: Visit Black Entrepreneur Startup Program