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 $221 million over four years, it will help Black Canadian business owners and entrepreneurs grow their businesses and succeed now and into the future.
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.
Black Entrepreneurship Loan Fund Opening May 2021
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 Federation of African-Canadian Economics (F.A.C.E.), a coalition of prominent Black-led business and community organizations, will manage the Government’s investment in the Loan Fund.
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.
Information received from Government Website https://www.ic.gc.ca/eic/site/150.nsf/eng/home