Small business loans for Black entrepreneurs

Personal

Business

Why us

Join us

For Black entrepreneurs.

Featured member

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

Borrow

Up to $25,000 through FACE¹

Best part

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

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

Questions?

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

Browse our directory

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

Book a phone appointment

Featured member: Kasandy

At Vancity, 30% of profits go to change-making initiatives, and portions of your deposits support local businesses like Kasandy, a fair trade store where customers can buy handmade products from artisan entrepreneurs in Kenya and other locations around the world.

Meet other members making change

Startup loans

For Black entrepreneurs.

Why our startup loans stand out.

Inclusive approval

Advice and support

Financial flexibility

Loan details.

Get inspired.

Apply now through FACE.

Questions?

Find a business account manager

Schedule a call

Tools to build your business.

Financing to feed the future.

Business credit cards with reward points.

One-stop-shop for business solutions.

Business banking that comes to you.

Point-of-sale and payment technology.

Deposit drop boxes, accessible 24/7.

Featured member: Kasandy