📋 Eligible Entities - Black entrepreneurs aged 18–39 years old - Canadian residents (business must be Canadian-based) - New or early-stage business owners (typically pre-revenue or early revenue stage) - Sole proprietors, partnerships, and incorporated businesses eligible - Applicants must demonstrate commitment to launching or growing a Black-owned enterprise - Non-eligible: Businesses in certain restricted sectors (e.g., gambling, adult entertainment, multi-level marketing) ### 💰 Funding Details - Primary Loan: Up to $75,000 in flexible business financing - Additional Funding: Up to $40,000 in supplementary financing opportunities from Futurpreneur Canada - Total Available: Up to $115,000 in combined funding - Repayability: Structured as a loan (not a grant) with repayment terms - Interest Rate & Terms: Competitive rates; specific terms depend on business plan and lender assessment - Matching Requirements: Typically requires some personal investment or sweat equity from applicant - Mentorship: 2 years of expert mentoring included at no additional cost ### 🛠️ Approved Expenses - Startup costs: Equipment, inventory, and initial operational setup - Working capital: Cash flow management for early operations - Technology & software: Business systems, digital tools, e-commerce platforms - Marketing & branding: Launch campaigns, website development, promotional materials - Professional services: Legal, accounting, and business consulting fees - Lease deposits & renovations: Workspace setup and improvements - Training & certifications: Skills development relevant to business operations - Generally excludes: Personal living expenses, debt repayment, speculative investments ### ⚠️ Conditions & Milestones - Application Requirements: - Comprehensive business plan with financial projections - Personal credit history review - Demonstration of business viability and market research - Proof of Canadian residency and age eligibility - Mentorship Commitment: - 2-year mandatory mentoring relationship with assigned business
SubsidyFinder