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Are you launching or working with an existing non-profit organization that’s creating social impact? Futurpreneur Canada provides financing, mentoring and support for entrepreneurs creating social value.

Eligibility

The basics of who qualifies:

  • Between 18 - 39 years old.
  • Must demonstrate a capability to generate a minimum of 20% of the gross revenue from ongoing, sustainable commercial activities.
  • This offer applies to both new non-profit organizations and to existing non-profit organizations that are launching a new social enterprise.
  • If the application for financing is made by an employee of the organization then that employee must have signing authority or written board approval. All employees with signing authority, who are between the ages of 18 and 39, will be party to the application. Proof of signing authority must be submitted during the application process.
  • Demonstrate some training/experience related to your business idea.
  • Create full-time sustainable employment for the applicant(s).
  • 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 month.
  • Agree to provide authorization for Futurpreneur Canada to carry out a credit check.
  • 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.
  • A business plan must fall within specified industry guidelines in order to be approved for financing. Examples of businesses which do not meet Futurpreneur industry guidelines include: 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. For more details on Futurpreneur industry eligibility, click here..
  • 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 49% 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.
  • The amount invested, or to be invested in the Business, and the character of the investment are such that a reasonable lender may expect that those persons will have a continuing commitment to the business An amount of 10% of the total project plan financing will in general be considered as sufficient for the entrepreneur investment.

Financing

We offer up to $15,000 in financing.

  • Applicant(s) must show a minimum investment of 10% of total value of the project.
  • Up to $15,000 with a term over five years.
  • Interest is charged at CIBC’s prime rate + 4%.
  • Loan/Credit Application Fee of $50 due at time of application.
  • 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.
  • A $15 program fee is charged monthly for the duration of your loan, added to your monthly repayment installment.

Mentoring

Futurpreneur Canada’s Non-Profit 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.

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.