Startup loans

For Black entrepreneurs.

Featured member

Kasandy connects handmade talent from East Africa with the global fashion consumers.


Up to $25,000 through FACE1

Best part

Get funding, plus networking opportunities, tailored advice, mentorship and education.

In partnership with
Federation of African Canadian Economics logo

Why our startup loans stand out.

Inclusive approval

Qualify as a startup, pre-revenue, based on the strength of your experience and your idea, instead of only your credit score.

Advice and support

Connect with FACE for business planning advice, accounting and legal support, and technical help with finances, taxes, training and education.

Financial flexibility

Make interest-only payments for up to 12 months. You can also pay off all or part of your loan at any time, with no fees.

Loan details.

Loan size Up to $25,000
Loan type Term loan or combination of term loan and operating line of credit
Interest charged Vancity Prime± plus 3%
Repayment period 5 years

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. A line of credit is limited to a maximum of 25% of the total approved amount. Administrative fees are waived under the startup loan program for all term loans and for the first year on your line of credit.

Get inspired.

How will you use your startup loan? Here are a few ideas to get you started:

  • Working capital
  • New production and services
  • Business expenses
  • New tools or equipment
  • Leased office space
  • Research and development that leads to commercialization
  • Pre-commercial and commercial product development
  • Market development

Apply now through FACE.

The black entrepreneur loan application and detailed eligibility requirements are available from FACE’s website.

Apply now Discover eligibility


Find a business account manager

Browse by location, language, and other details— and pick your preferred account manager.

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Schedule a call

Let us do the introductions. Choose a time that works for you, and a Microloan team member will call you to answer your questions.

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