BDC Newcomer Entrepreneur Loan (2022)

ByMaurice

Description:

BDC helps Canadian immigrants that want to start a company or handle the typical challenges of building a company in Canada.

Comments on Funding:

Funding ranges from $25,000 to a maximum of $50,000.

Eligibility:

Applicants must have:

  • a business that has in operation for at least 12 months and generated revenues,
  • immigrated to Canada less than three years ago,
  • reached the age of majority in the province or territory in which you live,
  • permanent resident status or protected person status,
  • a viable business plan.

Challenges the newcomer entrepreneurs face:

  • little to no credit history,
  • limited knowledge of the local business environment,
  • cultural and language barriers.

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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