Federal government launches loan program for black-owned businesses
The federal government is opening the doors to a loan program that will provide financing to black-owned businesses.
The Black Entrepreneurship Loan Fund will provide loans of up to $ 250,000 for majority black-owned businesses, or entrepreneurs for their startups or existing for-profit small businesses.
Social enterprises, partnerships and cooperative enterprises are also eligible for funding.
The government says applicants must have a company number, a business plan and financial statements, or project plans in the case of startups.