Black Entrepreneur Program

By mmuise
Description:

The Black Entrepreneur Program provides Canadian Black entrepreneurs who have been unable to access traditional funding from financial institutions, with business education, financial literacy, skills training and support to help build their capacity and knowledge to operate successful, sustainable businesses. To help overcome these barriers that significantly impact Black entrepreneurship, BOF is pleased to be disbursing non repayable funds to entrepreneurs enrolled in the various CBCC (Canadian Black Chamber of Commerce) programs administered through this initiative, throughout the duration of their enrolment.


Comments on Funding:

Upon completion of key program milestones, clients will receive payment from Black Opportunity Fund in the form of non-repayable funding to support their journey through as they build their business capacity.

Deadline: Currently accepting applications
Eligibility:

Applicants must:

  • have been declined for a business loan;
  • show proof of registration for the wraparound supports administered through the CIBC BEP;
  • be an organization that is Black-owned and/or Black-led (i.e. The majority (51%+) of the owners and/or leadership team identify as Black);
  • be a registered Canadian business with a valid CRA business registration number;
  • be able to demonstrate the ability to successfully operate a business enterprise;
  • comply with anti-corruption laws and regulations;
  • produce financials for the business;
  • have a dedicated business bank account.
Application Steps:

No specific application steps have been identified.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

CIBC mentions that the grant amount is $2,000. This information is not present on the program's website.

About the author
mmuise