Applications are open for the Black Entrepreneurship Loan Fund, the third pillar of the Government of Canada’s previously announced Black Entrepreneurship Program (BEP).
The fund aims to reduce some of the systemic barriers faced by Black Canadian entrepreneurs and business owners by providing them with the financing they need to start and grow their businesses.
The Black Entrepreneurship Loan Fund is a partnership between the Government of Canada, Black-led business organizations, and several financial institutions. It will provide loans up to $250,000 to Black business owners and entrepreneurs across the country.
The Government of Canada has announced that the Loan Fund is accepting loan applications from Black business owners and entrepreneurs through the Federation of African Canadian Economics (FACE).
Find more information on the Government of Canada website.
Read BetaKits’ full article on the launch of the fund.