Futurpreneur offers free resources and tools to help entrepreneurs at every stage of business development. If you are in the idea or R&D phase of forming your company, our free tools and resources can help guide you through the process of developing your business plan, mastering your cash flow, and more. We’re here to help move your business forward!

In order to apply to Futurpreneur’s Startup Program and secure financing, your company must be in the pre-startup or startup stage (i.e., beyond the Idea or R&D phase).

• By pre-startup, Futurpreneur means the company is in the process of launching and will make its first sales ideally within the next few months.

• By startup, we mean existing companies that have had less than a year of significant sales, i.e., sufficient revenues for the applicant(s) to pay themselves.

Working with a mentor is one of the requirements of our program, and you must receive our loan in order to be matched with a mentor. We do not offer these options separately.

No, the loan cannot be used to pay off a pre-existing debt. Nor can it be used as a down payment to secure other loans. However, the loan may be in addition to other sources of financing.

No, we offer strictly collateral-free loans supplemented by our mentorship program.

Here’s how to apply for a loan:

• Go to https://www.futurpreneur.ca/en/ and register as a new entrepreneur by clicking > register/login > application portal > register as an entrepreneur

• You’ll receive an automatic email asking you to confirm your email address and continue your request (click on the link). If you don’t receive the confirmation email, check your spam folder.

• You will then be able to fill out the form and upload the required documents, which include:

– a completed business plan

– financial forecasts for the next two years and a month-by-month breakdown

– Government ID (passport or driver’s license)

Note: All of the required documents must be uploaded for your application to be reviewed. The analyst in charge of your file will then contact you to go over your application and advise you of the next steps.

Our startup program is aimed at entrepreneurs between the ages of 18 and 39 exclusively. If you are about to turn 40, you may be eligible for the program provided your full application is completed before your 40th birthday.

If you are 40 years of age or older, unfortunately, you are not eligible for our program.

Please access the application portal using a computer. The platform is not compatible with mobile devices such as cell phones or tablets.

The portal functions best using the Chrome browser.

If the problem persists, please contact the portal platform’s technical support service: portalbugs@futurpreneur.ca.

Provide your name, the nature of your problem and, if necessary, attach a screen capture of the error message you received.

Futurpreneur does not offer a business plan writing service, but we do have several free tools available to guide you on our website:

• The business plan writer, a free tool that walks you through the basic steps of creating a business plan, including a step-by-step cash flow template for you to complete. It includes tips & tricks and detailed examples to guide you as you write.

• We also provide examples of business plans and financial documents. In our Business Resource Centre, you can find financial templates and business plan examples. We also offer best-in-class business plans, crash courses in everything from financials to operations, and practical guides on everything from exports to managing your cash flow.

Note: As part of your funding application, you can request help finalizing your business plan. When applying for funding, please indicate on the application form that you would like this support.

Yes, Futurpreneur offers a “side-hustle” program dedicated to part-time entrepreneurs who want to start a business while retaining their full-time jobs.

This offer consists of a four-year repayable loan of up to $15,000, supplemented by two years of mentoring. Learn more about our Side Hustle Program.

No, we do not offer a coaching service. Financing from Futurpreneur is accompanied by our industry-leading mentorship program. Once a loan is disbursed, entrepreneurs are matched with an experienced volunteer entrepreneurship mentor who guides them for about 3 – 5 hours per month for up to 2 years. Mentors provide business advice, support, active listening and encouragement to help entrepreneurs stay focused on what really matters for their business success.

You can learn more about our Entrepreneurs in residence here.

No, you must have obtained permanent resident status in order to apply for financing and mentoring at Futurpreneur.

Yes, you are still eligible to apply provided you own a majority of the company – that is, you own more than 50% of the voting shares. However, please note that your partner will not appear on the application for your loan. You will, therefore, be solely responsible for the loan and its repayment.

Partners who are eligible for the program (under the age of 40 and a permanent resident or Canadian citizen) who own more than 5% of the company’s shares must appear on the application for a loan.

Please note: You only need to apply once per project. When you register, you will be asked if you have any associates. If this is the case, you will need to answer “yes” and provide your or your associates’ contact information. They will then receive an automatic email inviting them to join the application. They can then complete the form and provide the appropriate documentation.

Futurpreneur offers collateral-free Startup loans at a better interest rate than most banks. We are able to finance up to $20,000 per business (the minimum amount is $5,000). If you need additional funding, BDC, our partner for this program, may provide up to an additional $40,000.

Applicants only need to apply once for both financing options on the Futurpreneur website.

Our startup offer includes funding along with two years of expert mentoring support so you can start your business with your best foot forward.

The loan is repayable over 5 years with interest-only payments required in the first year.

You can repay the Futurpreneur portion of the loan early, at no additional cost.

Futurpreneur is addressing a demonstrated gap in business ownership among young adults. According to Statistics Canada, whereas 45% of Canadian adults age 18-64 are under 40 years of age, only 16% of small and medium enterprises have primary decision makers who are under 40 years old (compared to 20% of the population and 25% of business decision makers age 40-49 and 32% of the population and 47% of the business decision makers age 50 to 64) – indicating much lower small business ownership among those less than 40 years old than among older Canadians.

One of the main factors behind this gap is access to financing—one of Futurpreneur’s key offerings. Typically, the younger you are, the lower your credit score is, and the less likely you are to secure financing from traditional lenders. As you grow older, your length of credit history increases, and you start to build a credit profile—both of which help you build a credit score. It makes sense, therefore, that the average credit score increases with age.

Futurpreneur isn’t alone in striving to increase small business ownership among young entrepreneurs. We represent Canada in two global networks:

– Youth Business International member organizations typically focus on entrepreneurs age 18-35. Several of these member organizations, including Futurpreneur as Canada’s official member, extend this range to age 39, and
– The G20 Young Entrepreneurs’ Alliance (G20 YEA) is an established G20 affiliated network of which Futurpreneur is Canada’s official member.

Canada also has many organizations supporting entrepreneurs age 40 and older. In particular, the 260+ Community Futures non-profit organizations across Canada, many of which are Futurpreneur partners in supporting our young entrepreneur clients.

Yes, Futurpreneur verifies each applicant’s personal credit score and, if applicable, that of their associates, i.e., those under the age of 40 and permanent residents or Canadian citizens and who own more than 5% of the company’s shares.

Credit checks are conducted with the permission of the interested parties.

No, at this time, we offer strictly collateral-free loans supplemented by our mentorship program.

We always welcome new mentors to our mentorship program. If you would like to volunteer as a mentor, please read about our program and sign up to learn more on this page. You can also contact us to learn more: mentoring@futurpreneur.ca.

At Futurpreneur we welcome aspiring, young entrepreneurs age 18-39 from all backgrounds to apply for support through our core Startup Program. Successful applicants receive up to $60,000 in loan financing (up to $20,000 from Futurpreneur and up to $40,000 from BDC) and up to two years of mentorship. They also gain access to a range of events, programs and resources.

Building on this program, we also offer the following initiatives:

• Side Hustle program: supports young entrepreneurs who want to launch or grow a part-time business, providing them with up to $15,000 in Futurpreneur loan financing, plus up to two years of mentorship and resources.
• Indigenous Entrepreneur Startup Program: Provides tailored support to aspiring, young Indigenous entrepreneurs. Delivered by an Indigenous team with lived experience, this program builds upon all the offerings of our core Startup Program, and also provides access to workshops and events led by Indigenous business experts, national networking opportunities and specialized resources.
• Black Entrepreneur Startup Program: Launched in March 2021, this program is delivered by a team with lived experience and builds upon all the offerings of our core Startup Program. Funded by RBC, with additional loan financing from BDC, it provides participants with $5,000 to $60,000 in inclusive startup loan financing and networking opportunities. It also offers the opportunity to apply for up to $40,000 in follow-on financing, funded by RBC, based on the first two years of successful business performance.

We are currently building a national team of Business Development Managers with lived experiences, who will work with cross-functional colleagues and our Director, Black Entrepreneurs to build and oversee our support for young Black entrepreneurs Canada-wide. Led by this team, Futurpreneur will build and maintain relationships with external stakeholder groups, including young Black entrepreneurs and mentors, Black-led organizations and community partners, and corporate and government partners to promote and communicate the key elements of this program.

Yes, for the purposes of this initiative, intersectionality is welcomed (e.g., those who self-identify as Black and any other ethnicities are eligible for this program).

Yes, if you have a new business you are looking to launch, and you and your business meet all the eligibility requirements, you can apply for the Black Entrepreneur Startup Program. Unfortunately, your original business is not eligible for the Black Entrepreneur Startup Program.

At this time, we are able to provide follow-on financing only to entrepreneurs who have participated in the Black Entrepreneur Startup Program.

Yes, you are still eligible to apply provided you own a majority of the company–that is, you own more than 50% of the voting shares. Please note that your partner will also appear on the application for your loan if age eligible. You will both be responsible for the loan and its repayment. If there are more than two partners in your business, the business must be at least 25% Black owned to qualify for this program.

To participate in this program, participants must self-identify as Black. Intersectionality is also welcomed (e.g., those who identify as Black and Indigenous are eligible for this program).

To qualify for up to $40,000 in follow-on financing through the Black Entrepreneur Startup Program, successful applicants must meet the following eligibility requirements:

• The business should not have pivoted to any “ineligible” activity since the original financing was approved. View our complete list of eligible businesses for more information.
• If the business has pivoted to a different model, it should make sense based on the business originally supported.
• The business legal entity should be same as that supported through the first round of financing with the Black Entrepreneur Startup Program. It is acceptable for there to have been a legal entity name change evidenced through Articles of Amendment or Amalgamation, etc. However, if there is a clear disconnect and it is not the same business entity originally financed, it will not be eligible for follow-on financing.
• Follow-on financing is available up to year four (4) from the original disbursement date.
• The standard Futurpreneur interest rate applies.
• The current business ownership must continue to meet the requirements of the Black Entrepreneur Startup Program.
• Note: The age of applicants is anchored to the age at time of the original application for financing through the Black Entrepreneur Startup Program.

The Black Entrepreneur Startup Program offers participating Black entrepreneurs age 18-39 across Canada:

• Inclusive financing: from $5,000 to $60,000 in startup loan financing (up to $40,000 delivered by Futurpreneur, funded by Royal Bank of Canada [RBC]; and up to $20,000 loaned by BDC); and
• Mentorship: Up to two years of 1-1 expert mentorship; and
• Resources: From our Rock My Business series, interactive Business Plan Writer to our Cash Flow Template, we provide access to the resources you need to succeed; and
• Networking opportunities: Engage with a growing national network of Black entrepreneurs, leaders and Black-led community organizations at entrepreneurship events; and
• Follow-on financing: The opportunity to apply for up to $40,000 in follow-on financing delivered by Futurpreneur, funded by RBC, based on the first two to three years of successful business performance.

In addition to meeting all eligibility requirements for our regular Startup Program, participants in the Black Entrepreneur Startup Program must meet the following requirements:

• Self-identify as Black and be Canadian citizens or permanent residents age 18-39; and
• When there are only two partners (owners) of the applicant business, the business must be majority Black-owned (>50%); and
• When there are more than two partners (owners), the business must be at least 25% Black-owned (≥25%).

Starting a business is challenging. Access to capital, financial literacy and unsatisfactory credit are just a few of the key barriers to success for many young entrepreneurs. The access to capital barrier, due to racism and systemic bias in the current financial system, along with business financial literacy are particularly acute for young Black entrepreneurs.

According to the Government of Canada’s fall 2020 consultations with the Black entrepreneurship community, “The issue of access to capital was identified by many participants as the most important issue for Black entrepreneurs. Participants noted that access to capital is crucial for any entrepreneur and that Black entrepreneurs have more difficulty than other entrepreneurs accessing capital.”

This is one of many statements about financing barriers faced by Black entrepreneurs from organizations, including Government of Canada, BDC, Canadian Black Chamber of Commerce, and others. Unfortunately, there is sparse data about the extent of this capital barrier, as most institutions do not collect demographic data about borrowers or credit eligibility.

In October 2020, Futurpreneur began collecting data about the barriers faced by our entrepreneurs in different communities, and the findings related to credit barriers are stark. Within the first three months of collecting data, only 17% of all entrepreneurs identified “bad credit score” as a barrier to their success; however, 31% of entrepreneurs who identify as Black identified “bad credit score” as a barrier—more than twice the 15% response rate of entrepreneurs who identify as White.

This is why, alongside mentorship and other supports, our Black Entrepreneur Startup Program includes more inclusive financing criteria for Black entrepreneurs, recognizing and addressing the impact of systemic credit barriers to their business success.

As part of our Diversity & Inclusion commitments, Futurpreneur supports entrepreneurs from communities that face systemic barriers to financing and starting a business, including those who identify as Black and Indigenous. With extensive knowledge of the needs of aspiring young Black entrepreneurs, the Director, Black Entrepreneurs and supporting team will be instrumental in helping us develop and deliver bilingual programming that will inspire diverse innovators and founders from across Canada, supporting them in the launch of successful new businesses.

Yes, as with all Futurpreneur programs that involve loan financing, Futurpreneur verifies each applicant’s personal credit score and, if applicable, that of their co-founders, i.e., those under the age of 40, permanent residents or Canadian citizens and who own more than 5% of the company’s shares. Credit checks are conducted with the permission of the interested parties. Note: We have adjusted our credit adjudication model for our Black Entrepreneur Startup Program to make it more inclusive in recognition of the systemic barriers to credit faced by Black entrepreneurs.

Our 2,500 volunteer mentors are a diverse group of business professionals, representing a range of ethnicities, including Black, and based in communities across Canada. As part of this initiative, we will continue to build our network, actively onboarding expert Black business mentors who would like to volunteer their time to support young Black entrepreneurs as they launch and grow their businesses. Mentorship is core to the support Futurpreneur provides and has been proven to be a key determinant to the success of a business in its critical first years post launch. While not all mentors for this program will be Black or BIPOC, we know that having strong Black role models with lived experiences will allow for a meaningful, dynamic and authentic experience for mentor and mentee, and will do our best to accommodate requests for Black mentors.

The Indigenous Entrepreneur Startup Program offers participating Indigenous entrepreneurs age 18-39 across Canada:

• Inclusive financing: from $5,000 to $60,000 in startup loan financing (up to $40,000 delivered by Futurpreneur, and up to $20,000 loaned by BDC); and
• Mentorship: Up to two years of 1-1 expert mentorship; and
• Resources: From our Rock My Business series, interactive Business Plan Writer to our Cash Flow Template, we provide access to the resources you need to succeed; and
• Networking opportunities: Engage with a growing national network of Indigenous entrepreneurs, leaders and Indigenous-led community organizations at entrepreneurship events

Indigenous entrepreneurs face barriers and realities that are only specific and relevant to Indigenous communities. We recognize and acknowledge that equity deserving groups should have access to applicable and culturally appropriate programming and services in order to empower success.

At Futurpreneur we welcome aspiring, young entrepreneurs age 18-39 from all backgrounds to apply for support through our core Startup Program. Successful applicants receive up to $60,000 in loan financing (up to $20,000 from Futurpreneur and up to $40,000 from BDC) and up to two years of mentorship. They also gain access to a range of events, programs and resources.

Building on this program, we also offer the following initiatives:

• Side Hustle program: Sponsored by TD Bank, supports young entrepreneurs who want to launch or grow a part-time business, providing them with up to $15,000 in Futurpreneur loan financing, plus up to two years of mentorship and resources.
• Indigenous Entrepreneur Startup Program: Provides tailored support to aspiring, young Indigenous entrepreneurs. Delivered by an Indigenous team with lived experience, this program builds upon all the offerings of our core Startup Program, and also provides access to workshops and events led by Indigenous business experts, national networking opportunities and specialized resources.
• Black Entrepreneur Startup Program: Launched in March 2021, this program is delivered by a team with lived experience and builds upon all the offerings of our core Startup Program. Funded by RBC, with additional loan financing from BDC, it provides participants with $5,000 to $60,000 in inclusive startup loan financing and networking opportunities. It also offers the opportunity to apply for up to $40,000 in follow-on financing, funded by RBC, based on the first two years of successful business performance.

In addition to meeting all eligibility requirements for our regular Startup Program, participants in the Indigenous Entrepreneur Startup Program must meet the following requirements:

• Self-identify as Indigenous and be Canadian citizens or permanent residents age 18-39.

To participate in this program, participants must self-identify as Indigenous. Intersectionality is also welcomed (e.g., those who identify as Black and Indigenous are eligible for this program).

Our 2,500 volunteer mentors are a diverse group of business professionals, representing a range of ethnicities, including Indigenous, and based in communities across Canada. As part of this initiative, we will continue to build our network, actively onboarding expert Indigenous business mentors who would like to volunteer their time to support young Indigenous entrepreneurs as they launch and grow their businesses. Mentorship is core to the support Futurpreneur provides and has been proven to be a key determinant to the success of a business in its critical first years post launch. While not all mentors for this program will be Indigenous, we know that having strong Indigenous role models with lived experiences will allow for a meaningful, dynamic and authentic experience for mentor and mentee, and will do our best to accommodate requests for Indigenous mentors.