The Request for Proposals for Women Entrepreneurship Loan Fund is now closed, we are no longer accepting applications. The application form was available from July 28, 2021 to September 20, 2021.
Loans are currently not available to women entrepreneurs through this fund. The program will open to women entrepreneurs to apply for loans in the coming months.
The Government of Canada continues to be committed to advancing gender equality and women's economic empowerment and to supporting women entrepreneurs through the Women Entrepreneurship Strategy (WES). The new Women Entrepreneurship Loan Fund will help ensure that more women entrepreneurs have the tools and financing they need to succeed.
What is the Women Entrepreneurship Loan Fund
While progress has been made since the launch of the WES in 2018, access to capital, particularly in smaller amounts, remains a significant barrier for many women entrepreneurs seeking to start or grow their businesses. To help address this barrier, the Government of Canada allocated $55 million in Budget 2021 for the creation of a new national microloans fund. This new program will seek to provide smaller amounts of affordable financing to women entrepreneurs, particularly for start-ups, underrepresented groups or sole proprietorships which may experience more difficulty in accessing financing.
How it works
There will be 2 stages in the launch of this program. The first stage, which involved a call for applications for not-for-profit organizations to deliver this program, has closed. Selected delivery organizations are currently preparing for the launch of the program in the near future. Once ready, women entrepreneurs will be able to apply for loans of up to $50,000 to start or grow their businesses.
Selected delivery organizations
Loans are currently not available to women entrepreneurs through this program, as organizations are preparing for its launch in the near future. Loans will be available through the delivery organizations. Please visit the selected organizations' websites for details: