Launching a business? We can help.

Futurpreneur Canada, in partnership with the Business Development Bank of Canada, offers young entrepreneurs age 18 to 39 up to $60,000 in financing to launch or grow a business.

We also connect you with an expert business mentor for up to two years and provide access to the tools and resources you need to have the best shot at business success.

What would you do with up to $60,000 to launch or grow your business?

WE OFFER:

Financing

  • Apply for up to $60,000* in loan financing to launch or grow your business.

Mentoring

  • We match you with an experienced mentor who will work with you for up to two years, providing critical business advice, support and encouragement.

Resources

  • Learn key skills like business planning, marketing and cash flow management through our online and in-person resources and tools.

  • 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 three months.
  • 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.
  • BDC financing through a Futurpreneur Canada application is not available to all persons, corporations, firms and companies who are already a BDC borrower.
  • No credit history and new to Canada? Please refer to our Newcomer program.
  • 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 able to finance up to $20,000 per business. Our partner the Business Development Bank of Canada (BDC) can provide additional financing of up to $40,000.

  • Up to $20,000 with a term over five years.
  • Interest is charged at CIBC’s prime rate + 3.75%.
  • 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.
  • A $50 fee at the time of disbursement.
  • Up to $40,000 in financing.
  • Interest-only repayment in the first year.
  • The interest charged is the BDC Floating Base Rate* + 5%.
  • Repayment of outstanding BDC principal by monthly repayment schedule similar to your Futurpreneur Canada loan. You may prepay all or any part of the outstanding principal, however, BDC must receive the interest owing to the time of repayment, together with an indemnity equal to three months’ interest on the principal prepaid.
  • Once a year (non-cumulative) on the anniversary date of the loan authorization date, you may repay 15% of the principal outstanding without indemnity.
  • BDC charges a $50 processing fee, which is deducted from the initial loan disbursement.
  • Applications are subject to BDC approval and eligibility criteria. Some restrictions may apply.

*Please contact your local BDC office for the BDC Floating Base Rate.

National Office
133 Richmond Street West, Suite 700
Toronto, ON, M5H 2L3

Futurpreneur Canada is a non-profit organization that supports Canadian entrepreneurs age 18-39, providing them with loan financing, mentoring and business resources. Our experts are here to answer your questions and put you on the path to success.