Turn a great idea into a thriving business.
Chara Krangle and Vanessa Nicola were looking for a convenient way to eat healthfully on the go. The two friends put their heads together and came up with Oat Of The Ordinary, a line of single-serving oat products made with natural ingredients.
“We thought, ‘If we’re going to do this, we have to do it right,’” says Vanessa.
Futurpreneur connected them with a business development manager – who, Chara says, proved to be “an incredible source of support” – along with the funding, mentorship and resources needed to make their project a success.
We’ve supported thousands of small business owners like Chara and Vanessa, working with diverse entrepreneurs aged 18-39 to launch successful main street businesses that contribute to the vitality of communities across Canada.
Futurpreneur is the only national non-profit organization that provides financing, mentoring and resources to young entrepreneurs, helping them build a successful future while driving Canada’s inclusive economic prosperity.
Our programs support a wide variety of small business owners, whether you have your own idea, are looking to purchase an existing business, are interested in franchising, or want to launch a side hustle.
Looking to start a business in British Columbia? Sign up now to connect with a Futurpreneur business development manager and learn how Futurpreneur can support you on your entrepreneurship journey.
- Apply for up to $60,000 to launch or buy a new business or to grow one that’s been fully operating for less than 12 months.
- Get matched with an experienced mentor to help you build confidence and tackle your toughest challenges for up to two years.
- Learn key skills like business planning, marketing and cash flow management through our online and in-person business resources.
- 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.
- Assure that the business is NOT in the research and development stage.
- Assure that financing proceeds may not be used for refinancing existing debt.
- BDC financing through a Futurpreneur Canada application is not available to all persons, corporations, firms and companies who are already a BDC borrower.
- 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. All BDC loans are subject to the eligibility criteria of the BDC.
- 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 and BDC application.
- The amount invested, or to be invested in the Business, by the persons other than BDC 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.
For additional eligibility criteria for partnerships, incorporations, and business take-overs please click here.
For information on businesses not eligible for Futurpreneur Canada financing please click here.
Approval for financing is also dependent on an applicant successfully meeting credit score minimums determined by Futurpreneur.
Futurpreneur Canada is a non-profit organization supporting Canadians aged 18-39 to become business owners with loan financing, mentoring and business resources. Our experts are here to answer your questions and put you on the path to success.