WEOC Women’s Entrepreneurs Loan Fund

Funding:

• Up to $50,000 to eligible women entrepreneurs across Canada to start or grow a business
• Interest rates are determined on the risk profile and stage of business borrower
  • The rate is fixed for the term of the loan within the range of Prime + 2.5% to Prime + 4.0%
• Lending fee of 1% of total loan amount deducted from the initial disbursement after approval

Eligible Individuals:

• At least 19 years of age
• A Canadian citizen or Permanent Resident
• Residing in Canada
• Eligible businesses must be at least 50% women-owned with:
  • A business plan, including cash flow forecasts for a minimum of two years is required
  • Annual business revenues that do not exceed $2 million

Eligible Loan Uses:

• Capital assets (including machinery/equipment, leasehold/property improvements)
• Office and equipment rental
• Salaries and benefits (excluding owner’s salary)
• IT/Software license purchase
• Professional services
• Inventory/supplies
• Working capital (e.g. payroll, lease payments, accounts management, rent, overhead costs)
• Digital (including website/ecommerce development)
• Marketing/advertising/business promotion
• Employee training
• Short term recievable financing (i.e. financing to service a contract)
• Business start-up costs (legal fees, business incorporation fees, business plan preparation, etc.)

Application:

• To apply, applicants should first contact the Loan Partner organization in their region who will provide support for completing the application requirements and a link to submit the application
• Loan Fund Partners:
  • British Columbia – WE-BC
  • Alberta – AWE
  • Saskatchewan – WESK
  • Manitoba – WECM
  • Ontario – PARO
  • Newfoundland and Labrador – NLOWE