How To Access The Renewed Black Entrepreneurship Program Funding In Canada

Growing an inclusive economy is essential to building a strong Canada. When Black entrepreneurs have real access to capital, training, and mentorship, they create jobs, drive innovation, and strengthen communities; locally and nationwide.

The federal government recently renewed the Black Entrepreneurship Program (BEP) with $189 million in funding, continuing its commitment to support Black-owned businesses and Black-led ecosystem organizations across Canada.

Since 2021, the BEP has supported over 24,000 Black entrepreneurs through financing, mentorship, training networks, and data initiatives. The Loan Fund alone has approved more than $70M in financing, helping Black-owned companies start up, scale up, and compete globally.

What This New Investment Includes

From 2025 to 2030, the renewed program will fund:

  • Loan Fund – up to $67M for business loans up to $250,000

  • Ecosystem Fund – up to $105.4M to support Black-led entrepreneur programs across Canada

  • Knowledge Hub – $7.5M to improve research and data on Black entrepreneurship

Minister Rechie Valdez also confirmed continued collaboration between FACE (Federation of African Canadian Economics) and the Business Development Bank of Canada (BDC) to help Black founders access capital more easily.

This investment also supports the federal Black Justice Strategy, advancing efforts to address systemic barriers and economic inequities faced by Black communities.

How to Access BEP Supports

1. Black Entrepreneurship Loan Fund

Loans up to $250,000 for Black business owners and entrepreneurs.

Apply through:

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