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Be My Own Boss loan

Be My Own Boss loan

Small businesses play a big role

While small businesses are vital to the health of our economy, it can be difficult for new entrepreneurs to access the funds they need to start (or grow) their business.

Vancity’s Be My Own Boss microloan supports new entrepreneurs by filling the gap between traditional bank lending and the availability of venture capital. We don’t look at just your credit history when we consider a microloan. Unlike traditional small business loans that are based on business history and owner’s collateral, Be My Own Boss microloans are based on the character of the owner, the owner’s vision for the future, and the strength of the business plan.

Are you eligible?

To be eligible to apply for a Be My Own Boss microloan, you must:

  • Be planning to operate the business in Metro Vancouver, the Fraser Valley Regional District, Greater Victoria, or the Sea-to-Sky Corridor
  • Be a Canadian citizen or Permanent Resident
  • Have at least one business owner enrolled in or recently graduated from a self-employment or pre-entrepreneurial training program or…
  • Have your business plan reviewed by a business advisor (such as Small Business BC).

Key benefits

  • Qualify at start-up, pre-revenue, based on the strength of your character and idea
  • Qualify for a loan even without a strong credit history
  • Receive funds as a line of credit* and/or a term loan**—your choice
  • Pay no administrative fees***
  • Gain access to Vancity’s business expertise and financial literacy support
  • Benefit from access to a co-operative network of members
  • Vancity no longers offer the ABLED/ACED program in conjunction with Western Economic Diversification Canada as the program was discontinued on as of March 31, 2018.

    The program is now with Community Futures of BC therefore if you are still interested in the ABLE/ACED program, please refer to the following link:

Loan details

  • Loan size: Apply for up to $50,000
  • Loan type: Choose a term loan or line of credit (maximum 25% of overall request)
  • Interest charged: Pay prime plus 3%
  • Repayment period: Repay the loan within 5 years.

Use this microloan for:

  • Working capital
  • New production and services capacity
  • Business purposes or business related expenses
  • Purchasing tools or equipment
  • Leasing office space
  • Research and development leading to commercialization
  • Pre-commercial and commercial product development
  • Market development.

Apply now

We encourage eligible entrepreneurs and new business owners to apply for a Be My Own Boss microloan.

To start the process:

If you have questions about the Be My Own Boss microloan, please email

*A term loan is repaid over a specific period of time by making payments on both the principal and interest.
**A line of credit (also known as an operating loan) requires the loan-holder to repay only the interest on the outstanding loan balance each month.
***Administrative fees are waived under the microloan program for all term loans and for the first five years on your line of credit.