Afro Caribbean Business Network

Tag: business funding

  • Impact Financing in Canada: How the DUCA Impact Lab is Building Banking That Benefits All with Keith Taylor

    Impact Financing in Canada: How the DUCA Impact Lab is Building Banking That Benefits All with Keith Taylor

    We recently sat down with Keith Taylor, Executive Director of the DUCA Impact Lab, to explore how their innovative approach to impact financing in Canada is transforming access to fair banking and reshaping what financial equity looks like.

    Here are the key takeaways and insights for Black entrepreneurs and business owners in our network who are committed to innovation, sustainability, and community trust.

    1. Turn Community Challenges into Market Differentiation

    The DUCA Impact Lab was born out of addressing exclusion. Decades ago, credit unions emerged because newcomers to Canada were denied access to mainstream banking. Today, the Lab views those same barriers not as setbacks but as opportunities to innovate.

    Insight for Entrepreneurs: Center your business model around solving systemic access challenges. By creating pathways for underserved markets, you’re not only serving your community—you’re building a competitive edge that sets you apart.

    2. Use Impact Financing to De-Risk Growth

    The Lab specializes in impact financing in Canada, proving that lending to underserved groups can be both viable and profitable. Their focus on gathering data and building a track record is essential to shifting narratives around risk.

    Insight for Entrepreneurs: When seeking funding, use data and measurable results to demonstrate your community’s reliability and potential. Success stories create confidence for investors and open doors to larger capital pools.

    3. Measure Value Beyond Dollars

    One of the Lab’s flagship pilots, the Escalator Loan, consolidates predatory high-cost debt into fair, cash flow-based repayment plans. The impact extends far beyond financial metrics. Borrowers reported improvements in:

    • Food and housing security

    • Mental health and family well-being

    • Children’s education and extracurricular access

    • Healthcare access (dentistry, prescriptions)

    Insight for Entrepreneurs: Highlight the holistic impact of your product or service. Funders and partners are increasingly looking at non-financial outcomes as part of the business case.

    4. Build with Trust and Transparency

    The Escalator Loan pilot revealed that women of colour disproportionately rely on predatory lending. For these communities, the barrier is not creditworthiness—it’s trust.

    Insight for Entrepreneurs: Design your services with transparency and cultural responsiveness at the core. Building trust with historically excluded communities is not just socially responsible—it’s smart business.

    Collaboration and Scale: The Future of Banking Equity

    The DUCA Impact Lab’s long-term goal is to shift the entire retail credit landscape in Canada, embedding equity into mainstream banking. But to achieve scale, partnerships are critical.

    Call to Action for ACBN Members:
    The Lab is seeking partners to:

    1. Help identify individuals who could benefit from the Escalator Loan model.

    2. Collaborate on scaling this program nationally, ensuring its impact reaches more communities.

    Together, we can ensure that banking, credit, and capital truly serve everyone.

    Watch the Full Interview

    Learn more about how impact financing in Canada can unlock opportunity for your business and community. Watch our full interview with Keith Taylor here: Watch on YouTube

    Learn about our ACBN Membership so we can work with you to build your business: ACBN Membership

  • Fundraising in Canada: Unlocking Capital and Impact for Black Entrepreneurs with Andre Beaudry

    Fundraising in Canada: Unlocking Capital and Impact for Black Entrepreneurs with Andre Beaudry

    At ACBN, our work is rooted in the proverb “I am because we are.” Collaboration, collective power, and community investment are at the heart of building lasting impact.

    We recently sat down with Andre Beaudry, Founder of Velocity Collaboration and a veteran of Canada’s fundraising ecosystem, to uncover essential insights for business owners and organizations navigating philanthropy. His expertise offers practical strategies on fundraising in Canada—from securing corporate partnerships to tapping into generational wealth—and shows how Black entrepreneurs can mobilize resources to create transformational change.

    The Secret to Securing Funds: Alignment and Accountability

    At its core, fundraising is about aligning values. Success comes when your vision connects directly with a donor’s priorities.

    Fundraisers act as the bridge between philanthropists—who want to create impact—and entrepreneurs, who know how to make it happen. For business owners, demonstrating accountability and keeping donors informed is crucial for building trust and long-term relationships.

    Philanthropy is especially vital in Canada. Government funding leaves gaps in healthcare, education, childcare, and community services—and your business or organization may be the solution donors are seeking.

    Where the Capital Is: Canada’s Largest Asset Pools

    To elevate your fundraising in Canada, you must know where the biggest opportunities lie:

    1. Corporate Canada (ESG focus): Companies are increasingly investing in Environmental, Social, and Governance (ESG) initiatives. Align your mission with their goals to unlock powerful partnerships.

    2. The Aging Population: One of the wealthiest cohorts in Canadian history is ready to give. Their focus is legacy and measurable impact. Craft your message around long-term change.

    3. Creative Assets: Beyond cash, donors can gift real estate or other assets. Through tools like charitable remainder trusts, they receive immediate tax benefits while your organization gains long-term stability.

    Scaling Up: Lessons from Capital Campaigns

    If you’re planning a major project, understanding capital campaign strategy is essential:

    • Do your research: Be clear about your priorities before asking for money.

    • Run a feasibility study: Interview current and potential donors to determine what resonates and how much you can realistically raise.

    • Use a Quiet Phase: Raise 70–75% of your goal privately before launching publicly to protect your brand.

    • Empower volunteers: Campaign success often comes from well-connected volunteers making direct asks.

    Collaboration Is the Key to Lasting Impact

    For small organizations and entrepreneurs, collaboration is not optional—it’s a necessity. Partnering with others allows you to share costs, strengthen influence, and achieve far greater results together.

    Final Insight: Fundraising in Canada is not just about money. It’s about building relationships, pooling community power, and creating opportunities for collective liberation.

    Watch the Full Interview

    For more on fundraising strategies, asset pools, and collaborative approaches, watch our full conversation with Andre Beaudry here: Watch on YouTube

    Learn about our ACBN Membership so we can work with you to build your business: ACBN Membership

  • Navigating the Promise and Pitfalls of Social Finance in Canada: Insights from Heather Simpson

    Navigating the Promise and Pitfalls of Social Finance in Canada: Insights from Heather Simpson

    At ACBN, our foundation is the proverb “I am because we are.” We believe in ecosystem mobilization—sharing knowledge, uncovering challenges, and building pathways to collective success.

    We recently sat down with Heather Simpson, Founder of S4G and a consultant specializing in non-profits and social enterprise, to explore the opportunities and realities of social finance in Canada. Her insights shed light on how this emerging system could reshape access to capital for historically underserved communities and what business owners should keep in mind as the Social Finance Fund (SFF) rolls out.

    Where Social Finance in Canada Shows the Most Promise

    The Social Finance Fund was designed to drive investment into areas overlooked by traditional capital markets. According to Heather, two sectors stand out:

    1. Affordable Housing and Social Purpose Real Estate
      These are tangible, real assets lenders understand—essentially mortgage lending—and they meet urgent societal needs.

    2. The Environmental Sector and Net Zero Commitments
      As Canada moves toward its Paris Agreement goals, the demand for environmental technologies and services will grow. The SFF could help de-risk these emerging markets where traditional investors hesitate.

    Profitability and Earned Income: Facing Reality

    Many non-profits and social enterprises dream of replacing grant dependency with earned income. Heather reminds us:

    • Margins are tight. Like most small businesses, social enterprises typically provide stability and jobs, but rarely massive profits.

    • Unrealistic expectations lead to disappointment. A social enterprise cannot be expected to outperform traditional businesses while also carrying social deliverables.

    • Philanthropic capital still matters. Social finance is a tool, not a full replacement for grants.

    Key takeaway for entrepreneurs: Earned income is powerful, but it works best when combined with other funding streams.

    Access Depends on Intermediaries

    For social finance in Canada to reach marginalized entrepreneurs, the choice of intermediaries—those who distribute the funds—is critical.

    • Trust and localization matter. Without community-rooted lenders and loan funds, many racialized and immigrant-owned businesses won’t benefit.

    • Specialized programs are required. Tools like guarantee funds, loan loss pools, and operational subsidies are essential to support smaller, riskier, or unconventional borrowers.

    What Must Be Clarified for Success

    Heather points out that the SFF will only succeed if it:

    1. Commits to disaggregated data to track who is receiving capital—and who is not.

    2. Focuses on demand-side metrics like loan applications and decline reasons, not just money disbursed.

    3. Builds sector capacity through grants and training so organizations can realistically prepare for financing.

    4. Clarifies its main focus. If housing and real estate are priorities, this must be transparent so organizations don’t waste time chasing inaccessible funds.

    Closing Thought: Building Equity Through Finance

    The rollout of the Social Finance Fund is a once-in-a-generation opportunity. Done well, it could reshape how racialized communities, non-profits, and social purpose businesses access the capital needed to build equity and long-term sustainability. Done poorly, it risks reinforcing the same barriers it was designed to dismantle.

    Watch the full interview with Heather Simpson here: Watch on YouTube

    Learn about our ACBN Membership so we can work with you to build your business: ACBN Membership

  • Social Purpose Real Estate in Canada: Insights from Graham Singh

    Social Purpose Real Estate in Canada: Insights from Graham Singh

    At ACBN, we hold firm to the principle I am because we are. That means looking beyond short-term fixes and investing in solutions that build collective strength for generations.

    This week, we sat down with Graham Singh, CEO of the Trinity Centres Foundation, to explore one of the largest untapped opportunities in Canada: social purpose real estate. With nearly $500 billion worth of faith-based properties across North America in transition, Graham believes we are standing at the edge of a once-in-500-year opportunity to redefine ownership, impact, and equity in our communities.

    For Black entrepreneurs and impact investors, this conversation is more than real estate—it’s about creating sustainable spaces that fuel business, community services, and generational wealth.

    The real estate revolution

    Faith-based properties once bustling with activity are now underused or at risk of being sold off to private developers. The Trinity Centres Foundation is stepping in to ensure these properties are not lost but redeployed for community benefit—through renovations, partnerships, and development projects that include affordable housing.

    Takeaway for entrepreneurs: These properties represent an opportunity to connect impact investing with social good, creating space for non-profits, businesses, and community growth.

    Key lessons for entrepreneurs and investors

    1. Measure impact through reduced rent
      The biggest measurable outcome of social purpose real estate is lowering rent for non-profits and charities. Like affordable housing, this ensures essential community organizations can thrive in costly urban centres.

    2. De-risk to unlock institutional capital
      Large investors, like pension funds, require stable returns. By having foundations accept initial risk, these investments become viable. Montreal’s Initiative Immobile Communauté multiplied its fund fivefold through this model.

    3. Shift from landlord to equity partner
      Instead of just renting space, new models give community groups equity stakes in properties—stabilizing financing and decolonizing old ownership structures.

    4. Invest in human capital
      The Windmill Microfinance example shows that small loans to skilled immigrants unlock massive returns—reducing reliance on social services and filling vital roles in the economy.

    5. Push for policy intervention
      To compete with private developers, social purpose organizations need tools like first rights of refusal, longer timelines to raise capital, and rapid-deployment funds.

    A time for action and healing

    This opportunity is about more than property—it’s about equity, decolonization, and repairing systems that have historically excluded marginalized communities. By engaging in social purpose real estate in Canada, Black entrepreneurs can help secure spaces for charities, non-profits, and businesses that keep our ecosystem thriving.

    To dive deeper into this $500 billion opportunity and hear Graham Singh’s vision for Canada’s future, watch the full interview here: Watch on YouTube

  • AI for Black Entrepreneurs: Insights from Stephany Sani-Edwards

    AI for Black Entrepreneurs: Insights from Stephany Sani-Edwards

    At ACBN, we live by the principle I am because we are. That means embracing tools and knowledge that strengthen our community. Artificial Intelligence (AI) is one of those tools—and according to Stephany Sani-Edwards, Strategic Program Design Consultant and servant leader, it may be the most important resource for Black entrepreneurs right now.

    Stephany is clear: AI for Black entrepreneurs is about empowerment, not fear. Used wisely, it can free up our time, lower barriers to resources, and help us build systems that position our businesses for long-term growth.

    The mindset shift: AI gives back your time

    Like the internet decades ago, AI is just a tool. Its impact depends on how we use it. Stephany highlights that AI can take over repetitive tasks, freeing us to focus on strategy, creativity, and collaboration—the work that truly drives growth.

    Key takeaway: See AI not as a threat, but as a partner that expands your capacity to lead.

    Mastering prompt engineering: Garbage in, garbage out

    The power of AI depends on the quality of your input. To get great results, you need to master prompt engineering—learning how to ask the right questions and give clear instructions.

    Practical tips:

    • Be explicit and step-by-step.

    • Ask the AI to confirm your instructions back to you.

    • Let the AI ask clarifying questions before giving final outputs.

    • Use AI to improve your prompts so your results keep getting better.

    Lesson for entrepreneurs: Invest time upfront in your prompts, and you’ll save hours later in execution.

    AI as a resource builder for small businesses

    For Black entrepreneurs, especially those just starting, financial barriers can be steep. AI levels the playing field by making once-costly services accessible.

    Examples Stephany shared:

    • Content creation without hiring a writer.

    • Drafting business models and plans at no cost.

    • Instantly generating professional presentations.

    • Building websites without coding knowledge.

    • Automating tasks to reduce errors and save time.

    Key takeaway: AI fills essential business roles when you don’t yet have the resources to hire.

    Don’t let fear hold you back

    Stephany warns that fear of AI is really fear of the unknown. Education is the cure. By experimenting with tools, joining study groups, and embracing training, Black entrepreneurs can move from consumers to leaders in the AI space.

    Her message: “Don’t let fear stop you. AI is a tool—one that can prepare us to thrive in the future economy.”

    To hear Stephany Sani-Edwards break down practical strategies for using AI in your business, watch the full interview here: Watch on YouTube

  • Black Entrepreneur Financial Freedom: Insights from Harpreet Gill

    Black Entrepreneur Financial Freedom: Insights from Harpreet Gill

    Watch full video interview here: https://youtu.be/Hytub8liU_c

    At ACBN, we believe in the power of I am because we are. Our collective strength lies in sharing the knowledge and tools that help our community thrive.

    In this spirit, we sat down with Harpreet Gill, a certified financial advisor and educator, to unpack how entrepreneurs—especially Black business owners—can achieve financial freedom. Harpreet’s journey began when a bank refused her access to her own financial information. That moment of systemic denial fueled her transition from 17 years in social work to finance, with a mission to bring ownership and wealth strategies directly to our community.

    Her message is clear: financial freedom for Black entrepreneurs is possible when we understand the rules, apply the knowledge, and build systems for generational wealth.

    From self-employed to business owner

    Harpreet introduces the Cash Flow Quadrant, popularized by Robert Kiyosaki, to highlight the difference between trading time for money and building systems that generate wealth.

    • Left side (Employee & Self-Employed): You stop working, you stop earning. No real financial freedom.

    • Right side (Business Owner & Investor): You own systems and make money work for you. This is where wealth grows and taxes shrink.

    Key takeaway: If you are self-employed, your next step is building systems so your business can thrive without you. That’s how financial freedom begins.

    Leveraging debt the right way

    In Canada, wealth isn’t built just by saving—it’s built by understanding credit. With a strong credit score, you can leverage other people’s money to invest, scale, and build. Financial literacy, Harpreet reminds us, isn’t about math—it’s about knowing the rules of the game and using them to your advantage.

    Habits that build wealth

    Knowledge only matters when applied. Harpreet advises entrepreneurs to start with their personal finances before scaling their businesses:

    • Review your last 2–3 months of bank statements. Label every purchase as a need or want.

    • Recognize that many people overspend $600–$700 a month on convenience items without realizing it.

    • Start small and start now—time is the most valuable asset in investing.

    Protecting your legacy with generational wealth

    Generational wealth is more than a buzzword—it’s strategy and preparation. Harpreet breaks down the hidden costs many families overlook:

    • Debt transfers to next of kin.

    • Estate freezes with capital gains, probate, and final taxes.

    • The solution: Life insurance. It covers tax liabilities and transfers wealth tax-free. Without it, families may lose 50% of their assets just to cover taxes.

    Ready to take action?

    Harpreet’s advice is simple: don’t wait. In just 3.5 years, she paid off $33,000 in debt, saved $93,000 for her first property, built a $30,000 emergency fund, and transitioned into full-time entrepreneurship.

    Her mission now includes building financial literacy curricula, children’s resources, and hosting major events like the Branding and Business Scaling Conference (September) and the Wealth Building Gala (November).

    Watch the full ACBN interview with Harpreet Gill to learn how to build systems, leverage the rules of money, and protect your legacy: Watch on YouTube

  • Impact Investing for Black Entrepreneurs: Lessons from Jillisa Brown

    Impact Investing for Black Entrepreneurs: Lessons from Jillisa Brown

    Watch full video interview here: https://youtu.be/hVQ-KDDWaqQ

    As Black entrepreneurs, we know the challenge: while some organizations talk about raising $75 million, many of us are still figuring out how to access our first $10,000 grant. The funding gap is real. But it doesn’t have to stay that way.

    That’s why hearing from Jillisa Brown, Executive Director of The Table of Impact Investment Practitioners (TIIP), was so powerful. Jillisa is a leader in Canada’s social finance ecosystem and has made it her mission to ensure Black entrepreneurs and other underrepresented founders are not left behind. Her insights can help us reframe how we think about money, growth, and our role in the impact investing landscape.

    Here’s what stood out from the conversation:

    Think bigger about funding

    Jillisa challenges us to raise our financial ambition. If others are aiming for $100 million, why can’t we? For Black entrepreneurs, impact investing is about claiming our seat at the table and understanding that scale is possible for our businesses too.

    Get investment ready

    Grants are a starting point, but they’re not the finish line. Jillisa emphasizes preparing your business for investment: building capacity, strengthening leadership, and positioning yourself for capital that fuels growth. Success isn’t just about spreadsheets—it’s also about self-discovery and community building.

    Position yourself as an expert

    As a young Black woman in a space lacking diversity, Jillisa faced skepticism and microaggressions. Her response? Do the research, master the details, and show up with confidence. For us, the lesson is clear: expertise breaks barriers.

    Representation matters

    TIIP’s leadership includes Black women, Indigenous leaders, and members of the LGBTQ+ community. This representation ensures that our voices shape how capital is deployed. But representation only matters if we show up. We must engage, apply, and contribute—otherwise, others will claim we weren’t interested.

    Build funder relationships early

    Waiting until applications open is too late. Building genuine connections with funders ahead of time gives us insights, influence, and sometimes even opportunities before the public knows about them. Relationships create access.

    Why this matters

    Impact investing for Black entrepreneurs isn’t just about raising money—it’s about rewriting the rules of who gets funded, who gets seen, and who builds wealth in Canada. Jillisa’s story proves that when we show up, prepare, and push for scale, we can change the landscape for generations to come.

    To dive deeper into Jillisa’s wisdom and learn how you can step into the impact investment space, watch the full interview here: Watch the full conversation on YouTube

    Watch full video interview here: https://youtu.be/hVQ-KDDWaqQ

  • Researching Effective Business Grants to Amplify Your Operations

    Researching Effective Business Grants to Amplify Your Operations

    Business Grants Mini Series: Each week we shall bring to you Business Grants that you should be aware of to help improve your company.

    When it comes to seeking financial support for your business, grants can be a valuable resource. They offer a way to secure funding without taking on additional debt or giving up equity. However, with so many different options available, it can be challenging to identify the most effective business grants for your specific needs. This is where thorough research becomes crucial.

    To begin your search, it is essential to have a clear understanding of your business’s objectives and funding requirements. Take the time to identify your industry, target market, and long-term goals. Once you have a solid foundation, you can start exploring various grant programs that align with your business’s focus.

    Effective research involves looking into both government and private sector grants. Government grants often have specific eligibility criteria and can be highly competitive, but they are also known for offering substantial funding opportunities. On the other hand, private sector grants may be more specialized and tailored to specific industries, but they can potentially offer more flexibility.

    When conducting your research, consider reaching out to small business associations or consulting with experts in grant funding. They can provide valuable insights and guidance throughout the process. Additionally, online databases, such as grant directories and funding websites, can be excellent resources to explore a wide range of grant options.

    While researching, pay close attention to eligibility requirements, application deadlines, and any other guidelines provided by grant providers. This will ensure that you meet all necessary criteria and can submit a strong and competitive application.

    In conclusion, researching effective business grants is a critical step in securing financial support for your business. By understanding your business’s needs, exploring government and private sector options, and utilizing available resources, you can amplify your business’s growth potential without the burden of additional debt.

    If you need assistance with what grants are available join our monthly info session here: https://www.eventbrite.ca/e/grant-info-sessions-tickets-414824540367

    If you need one on one become a member today! https://acbncanada.com/membership/