Ready to Apply?

If you’re new to Canada and don’t have a credit history, Futurpreneur Canada wants to help you launch your business. We provide tailored support and eligibility criteria to reflect your new status in Canada.


The basics of who qualifies for our Newcomer offering:

  • Between 18 – 39 years old.
  • Have lived in Canada for fewer than 60 months from the application processing date.
  • A Canadian citizen or a permanent resident of Canada.
  • Have a Social Insurance Number (SIN) that does not begin with a “9”.
  • Providing two character-based references (at least one must be a Canadian citizen).
  • Limited or no established credit history in Canada.

NOTE: If you are new to Canada with an established credit history, you may be eligible for up to $45,000 in financing through our Start-up offering.

General eligibility requirements and conditions

  • Demonstrate some training/experience related to your business idea.
  • Create full-time sustainable employment for the applicant(s) with business idea.
  • Agree to work with a mentor for up to two years (4 to 5 hours a month)
  • Produce a complete and viable business plan by the end of the application process.
  • Business fully operating for fewer than 12 months.
  • Agree to complete Futurpreneur Canada status updates every three months.
  • Agree for Futurpreneur Canada to carry out a credit check.
  • Agree to supply a letter from your bank.
  • Supply two personal references.
  • Assure that the business is NOT in the research and development stage.
  • Assure that financing proceeds may not be used for refinancing existing debt.
  • Assure that financing proceeds may not be used to fund businesses that are sexually exploitive or that feature sexually explicit entertainment, products or services; businesses that are engaged in or associated with illegal activities; businesses trading in countries that are proscribed by the Canadian federal government; and any other commercial activities inappropriate for government funding.
  • Demonstrate that you have been discharged from bankruptcy for at least five years or one year after receipt of a Certificate of Full Performance in the case of a Consumer Proposal.
  • For establishments serving alcohol, a maximum of 50% of revenues can be generated from the sale of alcohol when same is consumed on-site. Exempt from this are producers such as craft breweries, wine and spirit producers, brew-it-yourself type locations.
  • Any age eligible entrepreneur (18-39 years old) who owns 5% or less of the business does not need to be party to Futurpreneur Canada and BDC application.


Futurpreneur Canada recognizes that you may not have the established credit history necessary to secure financing. We’re here to help and we’ve partnered with the Business Development Bank of Canada (BDC) to extend our support even further.

For 18 - 39 year olds

Using character-based lending, our program for newcomers provides greater flexibility than most banks. But we can’t do it alone. We’re able to finance up to $7,500 per business. If you need more money, BDC may provide up to another $7,500.

Futurpreneur Canada Repayment Terms & Fees

  • Up to $7,500 with a term over five years.
  • Interest is charged at CIBC’s prime rate plus 3%.
  • Interest-only payments for the first year.
  • Principal repayments are made in equal monthly instalments together with interest, over the remaining four years.
  • No penalty for early repayment.
  • Program registration fee of $50, payable by cheque.
  • A $15 program fee is charged monthly for the duration of your loan, added to your monthly repayment installment.

BDC Repayment Terms & Fees

  • Up to $7,500 with a term over five years matching the Futurpreneur Canada amortization period.
  • Applicant(s) must show a minimum investment of 10% of total value of the project.
  • The interest charged is the BDC Floating Base Rate* + 5%.
  • Monthly principal and interest repayment schedule with a five-year term, with interest-only payments for the first year.
  • The client may prepay all or any part of the outstanding principal, however, the BDC must receive the interest owing to the time of re-payment, together with an indemnity equal to three months’ interest on the principal prepaid.
  • Once a year (non-cumulative) on the anniversary date of the loan authorization date, the client may repay 15% of the principal outstanding without indemnity.
  • Once approved, the BDC will issue an offer letter outlining additional terms and conditions.
  • $50 processing fee, payable at the time of the initial loan disbursement.
  • Applications are subject to BDC approval and eligibility criteria. Some restrictions may apply.


Futurpreneur Canada’s Newcomer offering includes participation in our industry-leading mentoring program. We’ll match you with a business professional to suit your needs and help increase your opportunity for success.

2 years of expert business mentoring can help you:

  • Gain insight and perspective by having someone to bounce your ideas off of.
  • Identify opportunities and risks by learning from someone experienced.
  • Focus on and strategically work towards your business vision.
  • Grow your own business network and enhance your business acumen.
  • Shorten your learning curve.
  • Build confidence knowing you have someone in your corner.

The Benefits of Becoming a FuturpreneurTM

Futurpreneur Canada offers education and development opportunities, online resources and in-house experts to help you launch and grow your business. We also host networking events to help you gain connections in your industry and the start-up community.

  • How-To’s & Templates

    How-To’s & Templates

    Use our Business Plan Writer to create your business plan or browse our library of examples and templates.

  • Build Your Network

    Build Your Network

    Attend workshops, meet other young entrepreneurs and gain peer advice. A start-up community is growing near you - join today!

  • In House Experts

    In House

    Our knowledgeable Entrepreneurs-in-Residence help you turn your ideas into a viable business.

  • Local Support with Partners

    Local Support with Partners

    Community partners can provide valuable small business resources and networking opportunities in your area.

Applying and What to Expect

You’ve read everything above, you’re interested and you may be eligible. It’s only fair to set your expectations to make sure we are the best fit for you and your business needs.

  • 1
    You’re going to register for our Newcomer offering.
  • 2
    You’re going to tell us about you and your business.
  • 3
    You’re going to share your DRAFT business plan and cash flow with us. Don’t have one? Don’t worry, we’ll help.
  • 4
    We’re going to look at your credit and business plan to ensure they meet our eligibility requirements.
  • 5
    We’re going to ask you for supporting documents such as your final business plan and cash flow statement, business registration and ID.
  • 6
    You’re going to share your COMPLETE business plan and cash flow with us.
  • 7
    We’ll review your application and decide if we can provide financing and a mentor.
  • 8
    You’ll meet your mentor and complete orientation.
  • 9
    You’ll receive your money!
  • 10
    You’ll continue meeting with your mentor and attending networking events.
  • Apply Now