Vancity Unity Women Entrepreneur Loans: Growth
$ 100,000.00
In-Kind Support, Loan
Description:
This Vancity Unity Women Entrepreneur loan provides women-owned businesses generating revenue for at least 12 months the funds they need to grow their businesses.
WeBC provides complimentary support and advice (peer programs, mentoring, ongoing support to develop your skills, manage risk, and plan for the future and more).
Comments on Funding:
Funding is a variable rate term loan of up to $100,000 for Growth Option (women-owned businesses generating revenue for at least 12 months), with:
– a lending rate of prime + 1.5%;
– a maximum term of 60 months;
– no interest for first 6 months.
Continuous Intake
Eligibility:
Applicants must be:
1. women-owned businesses generating revenue for at least 12 months;
2. businesses owned by women, and anyone who identifies as a woman or non-binary individual;
3. plan to operate the business in Metro Vancouver, the Fraser Valley Regional District, Greater Victoria, or the Sea-to-Sky Corridor;
4. have agreed to sign a personal guarantee together with another individual. Their guarantor must be a Canadian citizen or Permanent Resident;
5. be Vancity business members;
6. have met one of the following:
a) At least one business owner is enrolled in or recently graduated from a self-employment or pre-entrepreneurial training program
b) Their business plan has been reviewed by a coach, mentor or a third-party business advisor like Small Business BC
c) They have one or two years of sales history.
Application Steps:
1. To learn more about the program, applicants must email Vancity Savings Credit Union at unitywomenentrepreneursprogram@vancity.com or contact their Community Business Account Manager or Small Business Advisor.
2. If ready to apply, applicants must start their online application.
Documentation Needed:
Applicants must provide a business plan, if requested.
Other Things to Note:
About the author
Maurice
