The Black Entrepreneurship Program (BEP) is a partnership between the Government of Canada, Black-led business organizations, and financial institutions. With an investment of up to $350.8 million over four years, it will help Black Canadian business owners and entrepreneurs grow their businesses and succeed now and into the future.
Consultation summary report: What we heard is now available
Components of the program
Black Entrepreneurship Loan Fund Open
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).
National Ecosystem Fund Closed
The National Ecosystem Fund will support not-for-profit Black-led business organizations across the country in their capacity to provide support, mentorship, financial planning, and business training for Black entrepreneurs.
The response to the call for concepts was tremendous, with more than 200 concepts submitted. The regional development agencies will continue their review of the projects and will communicate with applicants in the weeks to come.
The Black Entrepreneurship Knowledge Hub will conduct research on Black entrepreneurship in Canada. It will help identify barriers to success and opportunities for growth. The Hub will be led by not-for-profit Black-led community and business organizations in partnership with educational institutions.
ISED is currently reviewing the concepts and will communicate with applicants in the weeks to come.
For more information
Canadians who would like to provide feedback or find out more information about the Black Entrepreneurship Program, please contact firstname.lastname@example.org.
Visit Managing your business during COVID-19 for more information about other financial support available to Canadians.
- Minister Ng announces the launch of the Black Entrepreneurship Loan Fund
- Prime Minister announces support for Black entrepreneurs and business owners
- Tender opportunities for Canadian Black owned or led small businesses
- Building a Foundation for Change: Canada's Anti-Racism Strategy 2019–2022
- Support for Community Organizations Helping Canadians
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