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Business | 13 November, 2023

Canada Startup Funding

Funding is the fuel that propels your entrepreneurial dreams from a mere idea into a thriving reality. Without adequate financial support, even the most promising concepts can wither on the vine.


The significance of funding for a business cannot be emphasized enough. It is a part of the foundation that builds your business, enabling you to develop your products and services, expand your team, and reach your target audience. But first, how do you secure funding for a new business in Canada?


Well, that’s where we come in. This blog is here to guide you through the maze of funding options available to entrepreneurs in Canada. From government startup funding and business loans to tax credits, we’ll show you the ropes and help you navigate how these types of funding for startups work and how they can kickstart your entrepreneurial journey.


Futurpreneur Startup Program

Futurpreneur, a well-established nonprofit organization, has been empowering Canada’s young entrepreneurs aged 18-39 for over two decades, funding startups and offering a unique blend of financing, mentorship, and business support. 


With an impressive track record of supporting over 17,700 diverse young business owners and the launch of 13,900 businesses, their impact is undeniable. Through a partnership between Futurpreneur and BDC, the organization provides access to up to $60,000 in financing, combining $20,000 from Futurpreneur Canada and $40,000 from the Business Development Bank of Canada, with favourable terms. 


Additionally, their mentoring program spans two years, offering invaluable guidance for business success. For Canadian entrepreneurs looking to transform their innovative ideas into thriving businesses, Futurpreneur is a trusted organization for Canada startup funding support.


Canada Small Business Financing Program

The Canada Small Business Financing Program (CSBFP) simplifies the process for small businesses to secure loans from financial institutions, as it collaboratively shares the risk with lenders. 


Over the last decade, the program has supported small Canada startups with over 53,000 CSBFP loans, totaling $10 Billion. Small businesses and startups in Canada with gross annual revenues of $10 million or less are eligible for this program, except for farming businesses. The program provides financing up to a maximum of $1.15 million, with flexible options for term loans and lines of credit. Small businesses can use the startup funding for various purposes, such as land or building purchases, equipment acquisition, leasehold improvements, intangible assets, working capital, and day-to-day operational expenses. 


Interest rates are determined by financial institutions, with options for both floating and fixed rates. The CSBFP not only eases the process of loan approval but also helps mitigate the risks associated with business financing, making it a valuable resource for small businesses looking to grow and thrive in Canada.


BDC Business Loans

BDC business loans offer a diverse range of financing solutions for businesses in Canada, catering to various stages of their growth. For businesses that have been operational for at least 12 months, it provides funding up to $250,000, making it a valuable resource for those in need of capital.


Whether you’re a startup operating for less than 12 months or a well-established business over 24 months, BDC has loan options to support you. From small business loans, commercial real estate investments, and equipment upgrades to startup capital and technology investments, these loans are offered to provide business funds that will help entrepreneurs at different phases of their business journey. 


With flexible repayment terms, higher financing percentages, and stable conditions, BDC’s start-up financing programs empower businesses to gain a competitive advantage, sustain their revenue model, and secure the financial support they need to thrive in Canada.


Have Questions? Looking To Get Started?


Black Entrepreneurship Loan Fund

The Black Entrepreneurship Program (BEP) in Canada is a collaborative effort between the Government of Canada, Black-led business organizations, and financial institutions, supporting the growth of Black Canadian business owners.


One of the key components of this program is the Black Entrepreneurship Loan Fund, which partners with organizations like BDC and FACE, a national Black-led nonprofit organization. The loan fund is a kind of entrepreneur funding that offers financial support in the form of loans of up to $250,000 to Black business owners and entrepreneurs throughout the country. 


This initiative aims to address the challenges faced by Black entrepreneurs, providing them with access to capital investments, working capital, and additional business resources essential for expansion. 


By working closely with organizations like FACE, the Black Entrepreneurship Loan Fund not only supports the growth and success of individual Black-owned enterprises but also contributes to the broader mission of accelerating wealth creation for Canadians of African descent, fostering entrepreneurship, and promoting economic empowerment within the Black community in Canada.


Farm Credit Canada

Farm Credit Canada (FCC) is a federal Crown corporation that exclusively serves the agriculture and food industry in Canada, providing a wide range of financial support and services. FCC partners with businesses involved in agriculture, providing financing options, startup investment, and specialized support to help agribusinesses start, grow, and manage their operations effectively. 


Whether you are a crop input supplier, equipment manufacturer, grain handler, livestock producer, or involved in various segments of the agriculture and food sector, FCC stands as a trusted partner. They offer financing for real property, equipment, expansion, startup, diversification, and more, ensuring businesses can access the capital they need to prosper. 


Moreover, FCC extends support to young farmers, women entrepreneurs, and those transitioning their farms, with a commitment to sustainability and Indigenous agriculture. The organization goes beyond providing Canadian business funding and Canada startup grants but is a reliable ally that understands the industry, working closely with businesses to structure loans that align with their specific needs. Business funding sources, such as the FCC, ultimately contribute to the growth and prosperity of the agriculture and food sector in Canada.


Build Your Startup With BSBCON

With the guidance and expertise of BSBCON’s business plan writers, entrepreneurs can take significant steps toward establishing their startups in Canada. BSBCON has a proven track record of creating successful business plans to assist a diverse range of Canadian businesses in securing startup funds and government funding for startups.


Connect with BSBCON today and leverage our business plan expertise to simplify your path toward securing business funding. Let us do what we do best to guarantee a successful application submission, making it effortless for you.