The Black Entrepreneurship Loan Fund lends $10,000 to $250,000 to Black business owners across Canada. Start-ups can get up to $50,000. FACE runs it in partnership with BDC. It's a loan, repaid with interest.
Amount
Loans of $10,000 to $250,000. FACE says start-ups get up to $50,000 and existing businesses up to $250,000.
Status
Year-roundNo intake dates or deadline on the federal page or FACE's loan page. FACE's page shows an 'Apply for a Business Loan' link.
Type
Loan (repaid)
Run by
Federation of African Canadian Economics (FACE), with BDC
Where
All of Canada
Checked on
Nov 13, 2026
Who it's for
Shareholders and guarantors who are at least 18, identify as Black and are at least permanent residents of Canada
Businesses at least 51% Black-owned, with a Black majority of voting rights
Sole traders, corporations and partnerships
Not for
Not-for-profit organizations
Businesses less than 51% Black-owned
What it covers
Capital investments: equipment, leasehold and property improvements, office equipment
Working capital: inventory, payroll, rent and overhead
Short-term financing to service a contract
How to apply
Prepare a detailed business plan and 2 to 3 years of projections (cash flow, balance sheet, income statement).
Gather your business registration, a personal statement of affairs, business and personal tax returns with notices of assessment, and past financial statements.
Register on the FACE platform, then submit a completed application with the required documents, including government-issued photo ID.
Good to know
This is a loan. Fees and interest depend on the borrower's risk rating.
Principal can be repaid over up to 60 months, with up to 12 months interest-only (conditions may apply).
FACE counts a business as a start-up if it has operated for at least 3 months and has under 12 months of consecutive sales. An existing business has operated for more than 18 months and can provide financial statements and tax returns.
Questions
Can a sole proprietor apply?
Yes. FACE's page lists sole traders, corporations and partnerships, as long as the business is at least 51% Black-owned.
What interest rate will I pay?
FACE's page doesn't give a rate. It says fees and interest depend on the borrower's risk rating.
Up to 15% of eligible project costs. Loans up to $5 million, interest-free during the project period (up to 4 years), with up to 30% (max $500,000) forgivable if targets are met. Grants only in limited cases: up to $500,000 for small rural firms, or $1.5 million for strategic projects.
Government of Ontario (Ministry of Economic Development, Job Creation and Trade)All of Ontario
