Startup loans
For Indigenous entrepreneurs.
Borrow
Up to $250,000
Best part
A more inclusive path to financing entrepreneurship.
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
Get advice from our small business team and connect with third-party support that can help you plan your business.
Financial flexibility
Borrow funds as a term loan or line of credit — whatever is best for you.
Loan details.
| Startup For new businesses |
Growth For existing businesses |
|
|---|---|---|
| Loan size | Up to $25,000 | Up to $250,000 |
| Loan type | Operating Line of Credit | Term Loan or Operating Line of Credit |
| Interest charged | Vancity Prime± plus 3%† | Term Loan: Vancity Prime± plus 2.5%† Operating LOC: Vancity Prime± plus 3%† |
| Repayment period | 5 years | 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
Eligibility.
Ownership must be by minimum of 51% individuals who identify as indigenous.
You operate the business in Metro Vancouver, the Fraser Valley Regional District, Greater Victoria, or the Sea-to-Sky Corridor.
Accounts with multiple signers must have at least one signing officer who meets all requirements listed and have 25% ownership of business.
Questions?
Find a business account manager
Browse by location, language, and other details— and pick your preferred account manager.
Browse our directory
Schedule a call
Let us do the introductions. Choose a time that works for you, and a team member will call you to answer your questions.
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Featured member: Satya
As a values-based co-operative, we’re committed to removing barriers for Indigenous entrepreneurs. When Patrice Mousseau started her organic skin care line, she she wasn’t a typical entrepreneur; she just wanted to solve her daughter’s eczema. With Vancity financing and support, she moved production of her organic skin care line from her kitchen to a lab—and into hundreds of retail stores.
“It can be very intimidating going into a bank as an entrepreneur,” she says. “I’m a single mom and I didn’t have a lot of collateral. But Vancity found a way to make it work and had my back from the very beginning. It feels like a partnership, like they’re part of the family that is my company.”
View legal details
† The annual percentage rate (APR) is compounded monthly, not in advance, APR assumes no fees or charges apply. If additional fees and/or charges apply, the total Cost of Credit and APR would increase. This product, its features and advertised interest rates may change at any time and may be withdrawn by Vancity at any time for any reason without prior notice to the member.
± 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.