Financing & Mentorship program (18 to 39)
Futurpreneur Canada makes it easier for aspiring young business owners to secure financing. And we’ve partnered with the Business Development Bank of Canada (BDC) to extend our support to you even further. We offer collateral-free loans at better interest rates than most banks. But we can’t do it alone. We’re able to finance up to $20,000 per business. If you need more money, BDC may provide up to $40,000.
Grant Deadline
Deadline not available
Funding Amount
Deadline not available
Type of Grant
Loans
Sectors
Demographics
Incorporation
For Profit
Perks
Mentorship, Networking
Region Restriction
This grant is restricted to whole of Canada
Keywords
Age Restriction
This grant is age restricted from 18 to 39
Eligibility and Requirements
Futurpreneur is eager to support aspiring business owners aged 18 – 39 years old who are Canadian citizens or permanent residents currently living in Canada.
- Demonstrate some training/experience related to your business idea.
- Create full-time sustainable employment for the applicant(s).
- Agree to work with a mentor for up to two years.
- Produce a complete and viable business plan by the end of the application process.
- Business fully operating for fewer than 12 months.
- Agree to complete Futurpreneur Canada status updates every month.
- Agree to provide authorization for Futurpreneur Canada to carry out a credit check.
- Assure that the business is NOT in the research and development stage.
- Assure that financing proceeds may not be used for refinancing existing debt.
- BDC financing through a Futurpreneur Canada application is not available to all persons, corporations, firms and companies who are already a BDC borrower.
- A business plan must fall within specified industry guidelines in order to be approved for financing. Examples of businesses which do not meet Futurpreneur industry guidelines include: businesses that are sexually exploitive or that feature sexually explicit entertainment, products or services; businesses that are engaged in or associated with illegal activities; businesses trading in countries that are proscribed by the Canadian federal government; and any other commercial activities inappropriate for government funding.
- Demonstrate that you have been discharged from bankruptcy for at least five years or one year after receipt of a Certificate of Full Performance in the case of a Consumer Proposal.
- For establishments serving alcohol, a maximum of 49% of revenues can be generated from the sale of alcohol when same is consumed on-site. Exempt from this are producers such as craft breweries, wine and spirit producers, brew-it-yourself type locations.
- Any age eligible entrepreneur (18-39 years old) who owns 5% or less of the business does not need to be party to Futurpreneur Canada and BDC application.
- The amount invested, or to be invested in the Business, by the persons other than BDC and the character of the investment are such that a reasonable lender may expect that those persons will have a continuing commitment to the business An amount of 10% of the total project plan financing will in general be considered as sufficient for the entrepreneur investment.
Grant Application website
https://www.futurpreneur.ca/en/get-started/financing-and-mentoring/
Contact
For entrepreneurs:
Are you in the process of completing your application for a loan to start your business?
Please contact your personal Business Development Manager who is assisting you with your application. If you started your application, you should already have received an email from your Business Development Manager.
If you are unsure of their contact details, you may call our toll-free line for assistance.
Toll Free Phone number: 1 800 464 2923
Are you an existing Futurpreneur client who already received a loan for your business?
If you have questions about your business loan account, please contact us here:
National Office:
Futurpreneur
33 Yonge St Suite 1100,
Toronto, ON M5E 1G4
Phone number: 1 866 646 2922
Toll Free Phone number: 1 800 464 2923