Startup loans
For women entrepreneurs.
Borrow
Up to $250,000
Best part
Get funding, networking, advice, mentorship and education.
In partnership with WeBC.
WeBC empowers self-identifying women entrepreneurs to start, grow, and lead businesses that strengthen BC’s economy by providing tailored financing, mentorship, and support to help overcome systemic barriers and access the resources they need to succeed.
Why our startup loans stand out.
Inclusive approval
Women, and anyone who identifies as a woman or non-binary individual can qualify as a startup based on their credit score.
Advice and support
Get ongoing support to develop skills, manage risk and plan for the future through WeBC’s resources, business advisors, mentorship and community.
You’ll also have access to tailored Advice Plans from our advisors who can look after your whole financial picture.
Financial flexibility
Borrow funds as a term loan or line of credit — whatever is best for you.
Loan details.
| Line of Credit | Term loan | |
|---|---|---|
| Loan size | Up to $25,000¹ Up to $250,000³ in total lending | Up to $250,000² in total lending For businesses that have generated revenue for at least 12 months |
| Interest charged | Vancity Prime± plus 3%† | Vancity Prime± plus 2.5%² |
| Repayment period | Monthly interest payments, principle can be paid at your own pace | 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.
Get inspired.
How will you use your small business or 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
Whatever your vision, we’re here to help you bring it to life.
Eligibility.
- You plan to operate the business in Metro Vancouver, the Fraser Valley Regional District, Greater Victoria, or the Sea-to-Sky Corridor
- You meet one of the following criteria:
- At least one business owner is enrolled in or recently graduated from a self-employment or pre-entrepreneurial training program
- Your business plan has been reviewed by a coach, mentor or a third-party business advisor like WeBC
You have one or two years of sales history
Let’s get to know your business.
We want your business to be successful and have a positive impact on our community. If this loan sounds right for you, we’ll work with you to understand your business potential and explore financial solutions to meet your needs.
Start with a plan.
A business plan helps us understand your goals and how you’ll achieve them. Not sure what goes in a plan? Check out our Small Business Startup Foundations learning modules.
Select a time to meet.
Meet with us online or over the phone to discuss what you’re looking for.
Meet with us.
We’ll talk through the details, answer your questions and gather any additional information.
Tools to build your business.
¹ The Annual Percentage Rate (APR) is based on the loan requiring a monthly interest payment based on the outstanding balance where the APR is set at Vancity Prime +3% per annum. No application fee and the monthly administration fee is waived for 12 months.
² The APR is based on a $5,000 loan with monthly payments paid through a 5 year term. APR assumes no fees apply.
³ The Annual Percentage Rate (APR) is based on the loan requiring a monthly interest payment based on the outstanding balance where the APR is set at Vancity Prime +3% per annum. No application fee and the monthly administration fee is waived for 6 months.
± The Vancity Prime rate represents a variable rate of interest announced by Vancity from time to time as its Prime Lending Rate. Rate subject to change without notice.