Women Entrepreneurship Loan Fund

While progress has been made since the launch of the WES in 2018, access to capital, particularly in smaller amounts, remains a significant barrier for many women entrepreneurs seeking to start or grow their businesses. To help address this barrier, the Government of Canada allocated $55 million in Budget 2021 for the creation of a new national microloans fund. This new program will seek to provide smaller amounts of affordable financing to women entrepreneurs, particularly for start-ups, underrepresented groups or sole proprietorships which may experience more difficulty in accessing financing. There will be two stages in the launch of this program. At this time, the Government has opened a call for applications and is seeking to select one or more not-for-profit led organization (s) to deliver this program nationally.

The goal of the WE Loan Fund is to provide microloan capital for women to start, maintain and grow their businesses. This support will lead to enhanced sustainability for these women-owned business which in turn will lead to growth, competitiveness, innovation, and productivity toward broader economic and social benefits for all of Canada.

Through this Call for Proposals, the Government of Canada will select one or more organization (delivery organizations) who will provide loan services for women entrepreneurs and women-owned businesses throughout Canada.

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