Futurpreneur is eager to support aspiring business owners aged 18 – 39 years old who are Canadian citizens or permanent residents currently living in Canada. To determine if we’re the best fit for you, take a look at our eligibility criteria.
Note: This is not an exhaustive list of all Futurpreneur eligibility criteria.
Futurpreneur Loan Eligibility
BDC Loan Eligibility
About the Entrepreneur
Between 18-39 years of age, at time of application'
A Canadian Citizen or Permanent Resident of Canada, must also physically reside in Canada.
Demonstrate some training/experience related to the business idea
Create full-time sustainable employment for the applicant(s).
Produce a complete and viable business plan and cash flow by the end of the application process.
Agree to provide authorization for Futurpreneur Canada to carry out a credit check.
Assure that Futurpreneur loan proceeds will not be used for refinancing existing debt.
This includes any activities, products, or content of this nature or so marketed- including singles events and mixers.
Businesses that can place their owners or customers in vulnerable situations. Example: cuddling services.
Gambling (gaming) and contests (pay for a chance to win) including casinos, bingo halls, and racetracks.
Racial, discriminatory, and exclusive types of content or activities.
Dating apps and websites that are “hook up” sites.
Editorial (opinion/news based) publications or content including streaming apps, radio, television, or social media blogs or similar activities with content that may be deemed as socially unacceptable, difficult to control, or giving rise to reputational risk.
Establishments where alcohol consumption on site exceeds (or is seen to exceed) 49% of total revenues.
Night clubs, bars, lounges, cabarets, pool halls, video arcades, festivals or events - or any similar activity that may give rise to reputational risk.
Recreational smoking (tobacco and cannabis), vapes, e-cigarettes, Shisha/Hookah Lounges, whole body cryotherapy, and any product, service or activity seen to pose a risk to public health will not be supported.
Any health product, food or drug considered must be regulated, and must provide evidence of Compliance.
Unregulated health risk –recreational tobacco and marijuana is unsupported due to public health risk. Note: convenience store operations can be acceptable since they sell cigarettes in the mix with many other products; case by case.
We do not support countries that are not compliant with Anti Money Laundering and Anti-Terrorism measures per the Financial Action Task Force or that have Canadian government sanctions in effect. Importing/exporting activities that are proscribed by government, are illegal, or give rise to reputational risk will not be supported.
Any activities that are illegal or those proscribed by government regulation, or that give rise to reputational risk.
Non-Secular organizations, or enterprises of an exclusive nature where membership is not available to the general public.
Fiduciary duty means handling or holding funds entrusted for a third party or where payments intended for a third party route through the business bank account.
Financial Services: We do not support lenders, mortgage brokers, or investment brokers/brokerages or any similar activity (financial advice only, is ok with no brokering).
Money Services: We do not support payday loans, finance leasing (lease to own), currency exchange models, or any similar activity.
Payment services: We do not support payment processing where the applicant business is actually the platform to collect customer personal payment details and perform the financial (payment) transactions.
Festivals/ events that are one time, periodic, or seasonal occurrences may not fit the profile of ongoing sustainable businesses. Some festivals and events may not comply with our criteria around alcohol consumption and socially acceptable activities or content. Businesses whose activities or marketing are closely tied to these festivals or events may also be deemed ineligible. Case by case.
Charities or businesses that act as a fund raising vehicle for charities or raise capital for other businesses.
Jewellers selling precious or semi-precious stones or metals
Assure that the business is NOT in the research and development stage
For entrepreneurs interested in purchasing an existing business fully operating more than 12 months: applicants must meet all eligibility criteria, and be acquiring at least 51 percent new controlling ownership of the applicant business. For entrepreneurs interested in purchasing an existing business through a succession plan, the same criteria as above apply except that the requirement to attain 51 percent ownership is delayed until the fifth year of operation.
About the Entrepreneur
Futurpreneur general eligibility criteria apply, plus these additional items:
BDC financing through a Futurpreneur Canada application is not available to all persons, corporations, firms and companies who are already a BDC borrower.
Will not fund businesses that are considered ineligible under BDC eligible business guidelines.
Applicants must consent to a background check
Not for Profits are not supported
All Declarations as to eligibility must conform as specified in the BDC financing application form
About the Business (Ineligible Business Activities)