Black Business Grants Ontario: 20 Funding Programs for Black-Owned Businesses
If you’re looking for Black business grants in Ontario, you’re in the right place! This page is the most comprehensive resource on the web for funding for Black-owned businesses in Ontario.
We cover:
And much more!
What is a Black Business Grant?
The Government of Canada defines a grant as:
a transfer payment subject to pre-established eligibility and other entitlement criteria. A grant is not subject to being accounted for by a recipient nor normally subject to audit by the department. The recipient may be required to report on results achieved.
So, a Black business grant is:
What Can Black Entrepreneur Grants Be Used For?
Black entrepreneur grants can be used to pay for many aspects of starting or running a business. Here are some of the uses that are covered by programs in our grants database:
And that’s just a sample! See the section below with a complete list of grants available for Black entrepreneurs.
How Much Grant Money Can I Get for My Black-Owned Business in Ontario?
In our database we currently have grants ranging from $5,000 to $200,000.
Am I Eligible for a Black Entrepreneur Grant in Ontario? Common Eligibility Criteria
Two of the most common questions we get asked at Ontario Business Grants are “Am I eligible?” and “How do I qualify?”.
We analyzed the Black entrepreneur grants in our grants database, and these are the most common qualifications we identified:
Note: these are just the most common eligibility criteria – there are many grants with different requirements.
How to Apply for Black Business Grants in Ontario: Follow These 6 Steps
The application process for grants can be complex, but you can increase your chances of getting your application approved by following a proven. Here are the steps to get the funds you need for your business:
- Gather a comprehensive list of all current grants. In Canada, hundreds of business grants are available for different industries, demographic groups, and purposes. Learn what is out there and cast a wide net when you apply to maximise your chances of securing funds.
- Focus on grants related to your industry. Review the application requirements to find out whether your business is eligible. When your business goals fit a particular type of grant, you have better chances of getting matched to it. You want to devote your time and energy to grants where you have the highest potential of winning.
- Reach out to the grant agencies directly. If you want to gain more understanding on what qualities the agencies are looking for in their grant applicants, there is no better way than to go right to the source. If possible, ask the agency questions and look for areas where you can stand out from the rest.
- Make a plan for your grant application. This plan should include a one-page draft of your grant application.
- Organise your documents. Grant organisations often ask their applicants to provide a business plan and other pertinent documents. If you organise your documents in advance, you’ll be ready to submit them when the grant agency requests them.
- Submit a well-thought-out application. If you follow the five steps above and the requirements of the grant program your application will have a good chance of getting approved.
Bonus Tip:
- Don’t miss other types of funding. Grants represent just one type of funding, but there are many other types of funding suitable for Black business owners. These include low-interest loans, wage subsidies, tax incentives, competitions, incubators and accelerators, and many more (see the sections below).
Black Entrepreneur Grants in Ontario: Current Grants Available
In the table below we list the grants currently available to Black entrepreneurs in Ontario.
To learn more about each program, just click the program name and you’ll be taken to a web page that provides detailed information on the program, including eligibility, the dollar amount of the program, and how to apply for the grant:
No fixed amount
Investment
Venture Capital Catalyst Initiative is helping to increase the availability of capital for Canada’s high-potential innovative firms, including those in the life sciences sector and for entrepreneurs from underrepresented groups, such as women and racialized communities. Please note that VCCI does not make direct investments into companies. Under Budget 2021, VCCI is investing up to $450 million through three streams:
1. Funds-of-funds stream investing up to $350 million in funds-of-funds;
2. Life sciences stream investing up to $50 million in VC funds primarily focused on investing in high-growth potential technology companies Canada’s life sciences sector; and,
3. Inclusive growth stream investing up to $50 million in VC funds to support increased access to VC for underrepresented groups, such as women and racialized communities.
no fixed amount
Grant
The Talent to Watch Program supports emerging filmmakers looking to finance the production stage of their first feature film project(s).
$10,000.00
Grant
This program supports Ontario-based Indigenous arts professionals and arts professionals of colour, or ad hoc groups and collectives made up of Indigenous arts professionals or arts professionals of colour for professional development and skill-building opportunities that advance applicants’ work and careers. It funds all contemporary and traditional art practices that are supported at OAC. Projects can include: study and training, mentorship, internship and apprenticeship and documentation of art work.
no fixed amount
Investment
Export Development Canada (EDC) has committed $200 million to invest in companies founded or led by diverse Canadians
For Canadian exporting businesses owned and led by people identifying as women, Indigenous, Black and other dimensions of diversity, one of the main barriers to growth is lack of equitable access to capital. This program helps address that challenge and create more opportunities for growth.
$30,000
Grant
The program funds the work of Ontario-based Indigenous curators and curators who are people of colour. It aims to increase the ability of Ontario public galleries, artist-run centres and other organizations to present projects by Indigenous curators and curators who are people of colour in contexts determined by the participants. The program supports relationship building between curators, galleries, and audiences. The program has two categories:
Curatorial projects by Indigenous curators
Curatorial projects by curators who are people of colour
$250,000.00
Loan
The Black Entrepreneurship Loan Fund is a partnership between the Government, 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.
Loans can be used for:
1. Capital investments–equipment, leasehold improvements, property improvement, office equipment.
2. Working capital–inventory, payroll, lease payments, accounts management, rent, overhead costs.
3. Short-term receivable financing (i.e. financing to service a contact).
$20,000
Grant
The Black Arts Projects Program provides support to individual artists, artist collectives of 2 or more Black artists working on a non-profit basis and incorporated non-profit Toronto Black arts organizations.
The City of Toronto supports this program through a funding allocation approved annually by Toronto City Council.
TAC recognizes the need to respond to barriers that Black arts communities face due to anti-Black racism. The program seeks to address these barriers by providing pathways to sustainable support to Toronto’s Black-led arts organizations serving Black artists. The program is designed to increase access to, awareness of, and participation in Toronto Arts Council funding by Black artists, while amplifying the work of Black artists in the city and creating avenues for sustainable art practice.
This program is multidisciplinary and recognizes a diversity of art practice, including new and emerging art forms, culturally relevant art practices, and multi/ interdisciplinary arts projects. Applicants can apply for projects that engage one or multiple arts disciplines.
$350,000
Loan
Helping ambitious business owners from underserved communities get the financing, education and support they need to succeed.
$20,000
Accelerator
As an economic development agency, Ontario Creates’ priority is to support the growth and development of business entities that are focused on driving commercial growth and creating job opportunities within the province of Ontario. The core objective of the AcceleratiON program is to invest in new and emerging Black- and Indigenous-owned music businesses that demonstrate high potential for economic and cultural impact
The Bottom Line
With the programs that have been introduced over the past few years for Black entrepreneurs, there’s never been a better time to start a Black-owned business.
Make sure to take advantage of the programs described in this guide, but also remember that there are hundreds of other programs available for other demographic groups, industries, and purposes of funding. Combine them all and you might just have thousands of dollars to launch (or expand) your business empire!