BDC Newcomer Entrepreneur Loan (2022)

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.

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