Futurpreneur, the nation’s leading non-profit supporting diverse entrepreneurs, has rolled out new, enhanced financing and mentorship programs thanks to a $60 million investment from the Canadian government.
Funding Options
With this new funding, Futurpreneur has increased its startup loan offerings to $75,000, up from the previous $60,000 cap.
Side-hustlers are also benefiting, with loan amounts for part-time entrepreneurs rising to $25,000 from $15,000. The changes come alongside one-on-one mentorship, a hallmark of Futurpreneur’s model.
Notably, partnerships with BDC and RBC remain central to these programs. BDC will co-lend up to $50,000, matching Futurpreneur loans for young Indigenous founders, while RBC’s support for the Black Entrepreneur Startup Program offers up to $50,000, with additional follow-on financing opportunities.
For young and diverse entrepreneurs in Canada, this expansion means more opportunities to turn their business ideas into reality. As the CEO of Futurpreneur, Karen Greve Young, stated: “We are empowering the next generation of business owners with the financing and mentorship they need to start and grow successful, sustainable businesses in communities across Canada.”
Futurpreneur has long been a key player in Canada’s entrepreneurial ecosystem, offering loans and mentorship to young, aspiring business owners across the country. Since its inception, the organization has empowered more than 18,700 entrepreneurs, helping to shape the next generation of Canadian businesses.
Eligibility Criteria
In response to feedback from the entrepreneurial community, Futurpreneur is expanding its eligibility criteria.
Young entrepreneurs can now apply for loans within the first 24 months of starting their businesses—double the previous 12-month limit. This addresses a key gap, as traditional lenders often require a two-year track record, leaving many young businesses without access to necessary capital.
Canada’s Minister of Small Business, Rechie Valdez, echoed this sentiment, emphasizing the government’s role: “By expanding loan eligibility and increasing the amount of loans available, even more young entrepreneurs will now be able to receive financial and mentorship support.”
This initiative is particularly significant for underrepresented groups such as Black, Indigenous, newcomer, and 2SLGBTQIA+ entrepreneurs. By lowering barriers to entry, Futurpreneur and its partners are positioning young entrepreneurs at the forefront of Canada's future economy.
With a growing appetite for entrepreneurship across Canada, this enhanced support package could be the turning point for many young entrepreneurs facing barriers to financing. Futurpreneur is not just offering more financial support—it is driving a more inclusive, diverse, and sustainable economic future for Canada.
