You’re a Canadian businesswoman who wants to build your own company and be your boss. Only one significant stumbling block stands in your way: money.
Finding the correct funding for your firm, especially if you’re a woman, can be challenging; that’s why we’ve compiled a list of all female entrepreneur grants in one spot. While there are few grant programmes for women-owned businesses, there are a plethora of lending programmes that offer favourable terms, often better than those offered by your typical lender. Grants, loans, and stock are all options for financing your firm. The bulk of business grants is awarded based on your company’s industry rather than the demographics of the owner. If you search closely, you’ll even uncover some unusual, one-of-a-kind programmes to help you receive the cash you need!
Women in Trade – Export Development Canada (EDC)
Women in Trade – Export Development Canada (EDC) assists women entrepreneurs in reaching their full potential globally. Export Development Canada (EDC) is committed to assisting Canadian women-owned and managed enterprises in achieving worldwide success by offering financial solutions and international knowledge.
Export Development Canada (EDC) has pledged $200 million to invest in businesses developed or led by people from all walks of life in Canada. One of the primary impediments to growth for Canadian exporting firms owned and directed by individuals who identify as women, Indigenous, Black, and other aspects of diversity is a lack of fair access to finance. This programme assists in addressing that issue and expanding prospects for advancement.
- EDC invests in firms managed or created by women and/or diverse management teams that are raising, or have just raised, equity capital to support worldwide growth (Seed to Series B fundraising rounds).
- Along with other venture funds, EDC might engage as a co-investor or syndicate partner.
- EDC participates on a market-based basis and does not provide ITIP grants or subsidies.
- EDC evaluates opportunities on a commercial basis at its exclusive discretion, taking into account fit with EDC’s strategy and corporate standards, including ESG.
Deadline Date: Ongoing
Contact Name: Export Development Canada (EDC)
Phone Number: 1-800-229-0575
Women in Technology (WIT) Venture Fund
The BDC Capital Women in Technology (WIT) Venture Fund is one of the world’s largest venture capital funds committed to investing in and supporting women-led technology firms today and in the future.
They invest in high-performing teams with the goal of transforming today’s global markets while also cultivating a network to support and develop exceptional female tech leaders, resulting in a virtuous cycle of innovation, economic growth, and excellence across Canada.
BDC capital WIT is:
- Investing from seed to series B
- Investing in Canadian technology firms driven by women in a variety of industries.
- Helping in speed operations and scale globally, we have access to resources, a large international network, and venture partners.
Eligible Applicants: To know more about eligibility, please click the below link.
Eligible Expenses: For more information, please click the link indicated below.
Deadline Date: Please click the link indicated below for an update.
Contact Name: Business Development Bank of Canada
Click here to go to the website.
Women Entrepreneurship Fund by Startup Canada
The Startup Canada Women Entrepreneurship Fund invests in high-impact, grassroots projects that support women entrepreneurs through education, investment, mentorship, and access to growth opportunities across Canada. The Fund was created in collaboration with Startup Canada and Dell Canada in order to help entrepreneurial leaders throughout Canada organize and create an entrepreneurial climate that fosters and empowers women to succeed as business owners. The following are the program’s goals:
- Invest in community-based projects that promote a climate and culture in Canada that supports women entrepreneurs.
- Educate, coach, and encourage women entrepreneurs in Canada to help them realize their full potential.
- To boost engagement, funding, and growth prospects for women-led businesses, raise awareness of the role of women in entrepreneurship.
Eligible Applicants: Any Canadian-based women entrepreneur, group or organization.
Expenses That Are Allowable:
Women’s entrepreneurship and women-owned firms are supported through programmes and events such as:
- Conference on women’s entrepreneurship
- Series of speakers
- a mentoring programme
- Trade missions, for example, are part of a workshop series.
Deadline Date: Varies
Contact Name: Startup Canada
E-mail Address: [email protected]
Women Entrepreneurship Fund
The Entrepreneurship Fund is a $20 million initiative that intends to help women entrepreneurs expand their firms and pursue opportunities in domestic and international markets. It will award up to $100,000 in non-repayable contribution funding to eligible applicants for a 12-month project.
Applicants Who Are Eligible
- An individual operating a business, partnerships, social enterprises, incorporated firms, corporations, or co-operatives are examples of for-profit organizations.
- a Native American group
- A business that is owned or led by a woman.
- A small to medium enterprise (SME) is a company with fewer than 500 employees that has been in existence for at least two years.
Expenses That Are Allowable
The project must concentrate on actions that will help the company grow and/or pursue new market opportunities. Projects must be for a period of up to 12 months. Costs that are eligible include, but are not limited to:
- Labour expenses Capital costs: machinery, equipment, and infrastructure purchases
- Management fees or working capital are two types of operating costs.
- Fees for consulting, Intellectual-property-related expenses
- Costs of preproduction and commercialization Costs of subcontracting
- Promotional materials and management tools are created and distributed.
- The estimated cost of extending an asset’s useful life for a reasonable period of time.
- The development of management tools
Phone Number: 1-800-328-6189
E-mail Address: [email protected]
Futurpreneur Canada Financing for Young Entrepreneurs
For the past two decades, Futurpreneur has fueled the entrepreneurial interests of Canada’s young entrepreneurs. They are the only national non-profit organization that gives aspiring business owners between the ages of 18 and 39 funding, mentoring, and support tools. Their well-known mentorship programme pairs budding entrepreneurs with a business professional from a network of over 2,400 volunteer mentors.
Futurpreneur Canada assists prospective young business entrepreneurs in obtaining funding. They’ve teamed up with the Business Development Bank of Canada (BDC) to provide you with even more assistance.
They provide unsecured loans with lower interest rates than most banks. They can provide up to $20,000 in funding per company. If you want more funds, BDC may be able to assist you with up to $40,000 in funding.
Canada’s Future Entrepreneurs Fees and Terms of Repayment:
- With a five-year term, you might get up to $20,000 in cash.
- Interest is calculated at CIBC’s prime rate plus 3.0%.
- For the first year, you’ll only have to pay interest.
- Over the next four years, the principal and interest will be repaid in equal monthly instalments.
- There is no penalty for paying back the loan early.
- At the time of distribution, a one-time loan management fee of 1% of the entire loan amount is payable.
To know more, click here.
Startup Women Program by Startup Canada
Startup Canada works with women-identified entrepreneurs to support their growth, achieve their long-term goals, and overcome the unique challenges that women face when starting a business. This programme has grown in recent years. This programme has been expanded to an annual programme, allowing us to reach even more woman-identified entrepreneurs and provide longer-term support.
In the form of webinars, industry-specific advisory circles, and 1:1 mentorship and advisory support, they will deliver tools, community, resources, and information to woman-identified entrepreneurs across Canada throughout the year.
Startup Women Advisory Network, a new element to the programme. This group will be made up of 13 women-identified entrepreneurs from a variety of industries and backgrounds, one from each province and territory. The Startup Women Advocacy Network’s mission is to provide commercial and public sector advocacy for women-identified entrepreneurs across Canada.
To Wrap Up
Now is the opportunity for any woman business owner to take her company to the next level. There are more funding opportunities for women-led enterprises than ever before. The grants for women listed above can assist you if you are a woman beginning or expanding a small business in Canada. Consider utilizing the Financing Database and receiving expert assistance if you need help, guidance, or support deciding which of these grants for women is best for you or if you want to view further funding opportunities for women in business.
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