BBN Labs — Better Business Network

Black Entrepreneurship Program – Black Entrepreneurship Loan Fund

Availability variesLoanChecked

Black business owners across Canada can borrow up to $250,000 through this repayable loan. Note that the micro-loan pilot (under $25,000) concluded March 31, 2025 and has not been extended.

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At a glance

Maximum supportMacro Loans: $25,000 to $250,000. Micro Loans: $10,000 to $25,000 (pilot concluded March 31, 2025 and has not been extended). The official page does not list an application fee.
Issued byFederation of African Canadian Economics (FACE)
Administered byFACE Coalition (in partnership with the Government of Canada, BDC, and private financial institutions).
RegionCanada

Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.

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Is this for you?

  • You are a Black business owner operating anywhere in Canada.
  • You need financing between $25,000 and $250,000 to drive general business development or growth.
  • You are ready to submit a full business plan, financial statements, projections, and tax returns for credit review.

Probably not the right fit if

  • You are seeking a micro loan under $25,000, as that pilot concluded on March 31, 2025, and has not been extended.
  • You need funds immediately for past expenses, as approval must precede disbursement and the process involves multiple review stages.
  • You are not a Black business owner, as this program is exclusively for Black entrepreneurs.

How much you'd realistically get

Macro loans range from $25,000 to $250,000; micro loans are currently unavailable.

What may be supported

  • Business development financing
  • General business growth

What's excluded or restricted

  • Micro loans are currently unavailable as the pilot program concluded on March 31, 2025, and has not been extended.

How applying works

Effort: involvedYou must register on the FACE platform and submit a comprehensive package including business plans, financials, and tax returns for review by the FACE Support Centre, Lending team, Loans Committee, and Financial Institution partners.

  1. 01Register on the FACE Coalition platform.
  2. 02Submit a completed application with required documents: business plan, financial statements, projections, tax returns, personal statement of affairs, ID, and business registration.
  3. 03FACE Support Centre reviews your application for completeness.
  4. 04The Lending team conducts a credit review.
  5. 05The Loans Committee or Credit Risk Management adjudicates the application.
  6. 06A Financial Institution partner performs administrative and background checks.
  7. 07If approved, you receive an offer, accept it, and the loan is disbursed.

Who to ask: https://facecoalition.com/en/contact

Documents commonly required

  • Business plan
  • Financial statements
  • Financial projections
  • Tax returns
  • Personal statement of affairs
  • ID
  • Business registration

What to know before you count on it

  • The official page does not list interest rates or repayment terms. Ask FACE before you apply.
  • The application requires extensive documentation including a business plan, financial statements, projections, tax returns, personal statement of affairs, ID, and business registration.
  • Micro loans are closed for new applications as the pilot ended in March 2025.
  • The official page does not list an application fee. Ask FACE whether any costs apply.

What are your odds?

Approval depends on credit review and adjudication by the Loans Committee or Credit Risk Management; there is no guarantee of funding.

Frequently asked questions

Are micro loans available?

No, the micro loan pilot concluded on March 31, 2025, and has not been extended. Only macro loans ($25,000 to $250,000) are open.

What is the interest rate?

The official page does not list the interest rate. Ask FACE before you apply.

How long does the application take?

The process involves registration, submission, completeness review, credit review, adjudication, and administrative checks. Timing varies; confirm on the official page.

Is there an application fee?

The official page does not list an application fee. Ask FACE before you apply.

What you can combine it with

This is a loan under the Black Entrepreneurship Program. Ask FACE whether you can combine it with other grants or loans.

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Page last updated ; status and deadline checked . Source: official program page.