Resources for Black-Owned Businesses in Canada

Each February, it’s important for organizations and people with a voice to speak for those who experience a lack of equity and systemic barriers in the Black entrepreneur community. While it’s important to acknowledge the many brilliant people who identify with and are allies to the community, we want to take it a step further. That’s why we curated this blog post to connect entrepreneurs, business do-ers, change makers, and everyone in between with meaningful resources with a mission this February.

BDC’s Black Entrepreneur Financing & Resources

Black entrepreneurs are making a significant contribution to our communities and our economy, yet they face unique barriers that prevent them from achieving their full potential. BDC is here to help.

Learn more here.

Black Mentorship Inc. (BMI)

Black Mentorship Inc’s mentorship program aims to bridge the gap and mentor access experienced within the Black and BIPOC professional community. BMI is dedicated to addressing these challenges by providing an inclusive mentorship program to foster the growth, empowerment, and career development of Black people. They provide education, skills building, resources, networking, and strong community support to enable their participants to achieve their definition of success, eradicating systemic barriers and thus, create diverse leaders.

Learn more here.

Black Entrepreneurship Program

The Black Entrepreneurship Program (BEP) is a collaboration between the Government of Canada, Black-led businesses, and financial institutions in Canada. The Government of Canada has pledged to invest up to $265 million to help Black Entrepreneurs launch and grow their businesses.

Within the program, there are different funding opportunities. At the time of writing this post, the Black Entrepreneurship Loan Fund is still open for applications. This program provides loans up to $250,000 to Black business owners and entrepreneurs and you can learn more here.

RBC Black Entrepreneur Program

In July of 2020, RBC made a five-year commitment to invest $100 million to fund small business loans to Black entrepreneurs. With this program at RBC, Black entrepreneurs can access loans of up to $250,000 to start and grow their business. The program also offers a strong network of peers, advisors, and mentors that can help guide Black entrepreneurs to grow and develop their businesses.

There are several other offers available within this program, such as partnerships with H&R Block for easy tax filing and TELUS for savings on business technology and tools. Learn more about this program and how you can apply here.

Futurpreneur’s Black Entrepreneur Startup Program

This program allows Black entrepreneurs to access loans between $5,000 to $60,000. There are some eligibility criteria that one must qualify for:

• This program is open for Black entrepreneurs between the age of 18-39.
• The business must be less than 12 months old in full-time operation. Purchasing an existing business or a franchise business is also eligible within this program.

The program also offers up to two years of mentorship, plus access to resources and networking opportunities with other Canadian entrepreneurs.

The post Resources for Black-Owned Businesses in Canada appeared first on Haltech.