Canada’s first ever Black Entrepreneurship Program

The Prime Minister announced investments of up to $221 million in partnership with Canadian financial institutions (including up to $93 million from the Government over the next 4 years) to launch the Black Entrepreneurship Program. This program aims to help thousands of Black business owners and entrepreneurs recover from the economic impacts of the COVID-19 pandemic and grow their businesses.

This program includes the following:
• New National Ecosystem Fund to support Black-led business organizations by providing access to funding and capital, mentorship, financial planning services and business training.
• Black Entrepreneurship Loan Fund to provide loans of between $25,000 to $250,000 for Black business owners and entrepreneurs.
• Black Entrepreneurship Knowledge Hub to collect date on the state of Black entrepreneurship in Canada.

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