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.
  • Must demonstrate socially acceptable content and activities of the business, its website, marketing materials and Social Media
  • Not available to full time students unless in their final year of studies

Commitment to Futurpreneur Evaluation and Reporting

  • Agree to work with a mentor for up to two years (4 to 5 hours a month).
  • Agree to complete Futurpreneur Canada status updates every three months.

About the Business (Ineligible Business Activities)

  • 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.
  • Violence
  • 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.
  • Salons that also have a few tanning beds- may be eligible. Case by case.
  • 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.
  • Cultivation of Tobacco and/or Marijuana
  • We support new businesses, and therefore cannot fund business models where the applicant is essentially an agent or contractor working exclusively for one already existing business.
  • Target practice ranges may be eligible- 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.
  • Mixed revenue models where the sale or lease of used equipment comprises a minority of revenues- case by case
  • Recording your own songs, publishing your own book/s or similar self-promoting activities are not supported.
  • Residential housing construction or rentals- this also includes retirement homes and long term care centres.
    • 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.
  • Cryptocurrency/ Bitcoin
  • 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
  • Business must be registered and operate in Canada. Business revenues must be deposited to a Canadian business bank account and be subject to Canadian taxes.
  • 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.