Black Entrepreneurship Program

Black Entrepreneurship Loan Fund

Funds loan participation for Black Canadian entrepreneurs through mission-aligned lenders to expand growth-capable businesses.

The Black Entrepreneurship Loan Fund (BELF) is a federal program administered by Innovation, Science and Economic Development Canada (ISED) in partnership with the Federation of African Canadian Economics (FACE) and the Business Development Bank of Canada (BDC). It provides repayable loans of up to CAD $250,000 to Black business owners and entrepreneurs across Canada to start, grow, or maintain their businesses. The fund is sector-agnostic and available on a rolling basis — there is no fixed competition deadline, and intake is managed continuously through the FACE portal at face-ca.com.

Eligibility is identity-based: applicants must be Black business owners or entrepreneurs operating in Canada. The instrument is a loan, not a grant, meaning repayment is expected; prospective applicants should contact FACE directly for current loan terms and applicable interest rates. Applications are not submitted through ISED or BDC directly — FACE serves as the primary intake channel, and BDC may be involved in referrals or co-delivery. Only for-profit businesses qualify; nonprofits, universities, and individuals are not eligible.

Applicants strengthen their position by engaging with FACE early to understand current loan terms and documentation requirements. BDC's involvement in delivery means that companies already in the BDC network may have an expedited path. Because intake is rolling and continuous, there is no competitive cohort — decisions are made as applications arrive. The fund represents one of three components of the broader Black Entrepreneurship Program (alongside the Ecosystem Fund and Knowledge Hub); only the Loan Fund component operates on a rolling basis.