Yes, there are available grants for black business owners in Canada. It might interest you to note that grants have been the lifeline of most small businesses not just in Canada, but all across the world. The truth is that most small businesses fail within their first three years and those that are able to survive the teething stage are businesses that receive grants and other forms of funding or support from the government.

Available Grants for Black Business Owners in Canada

  1. The Supporting Black Canadian Communities Initiative (SBCCI)/The Black Business Initiative

The Supporting Black Canadian Communities Initiative (SBCCI) is a grant-issuing foundation that a black business owner in Canada should consider when seeking business funding.

The Supporting Black Canadian Communities Initiative (SBCCI) was formed by the Federal government through Employment and Social Development Canada (ESDC) to help increase the capacity of Black-led grassroots businesses and not-for-profit organizations that are dedicated to serving Black communities in Canada.

The purpose of establishing the Supporting Black Canadian Communities Initiative (SBCCI) is to increase access to funding and to also provide grant money with the aim of increasing organizational capacity. The Government of Canada will be releasing 10.4 million dollars in funding over the next four years.

Requirements
  • The business or non-profit organization must be owned and managed by a black person
  • The business or non-profit organization must be legally registered in Canada
How to Apply

To apply, you are required to fill out the application form on their website and also upload all the required documents as stated on their website.

  1. The Tropicana Community Services Fund (The Capital Assistance Program (CAP))

The Tropicana Community Services is an intermediary for the Federal government through which grants to the Black community including businesses are awarded. The Capital Assistance Program (CAP) Provide grants to businesses with the aim of allowing the selected organizations to increase financial support, gain greater organizational stability, and improve their leadership, communication, transparency, and growth.

Tropicana Community Services also ensure that they provide the needed support structure to all the selected organizations by improving the work they currently do. With this, they will be able to enhance the vitality of their sector and build a reputable community capacity.

This grant is available to businesses and non-profit grassroots organizations across Canada that meet the targeted review and eligibility criteria as published on their website. Business owners and non-profit grassroots organizations can apply for this grant only when their budget is not less than $10,000 and does not exceed $45,000.

Requirements

Any business or non-profits organization that meets the following criteria is qualified to apply for this grant;

  • Legal entity in Canada
  • Registered as a non-profit or a charitable organization (as defined under Key Terms at the end of this document)
  • A black-led organization with a mandate to serve Black Canadian communities
  • Black-led organizations are those that meet the following criteria: The leadership positions (directors, founders) are primarily occupied by people who self-identify as Black (minimum 2/3)
  • The governance structure (volunteer committee, advisory board, leadership, etc.) is primarily composed of people who self-identify as Black (minimum 2/3)
  • The mandate serves Black Canadian Communities
  • The business must require a minimum grant of $10,000
  • Does not require funding for any of the ineligible activities listed below
  • Applicants must meet all requirements to be eligible
  • Not doing so will result in the application being rejected
How to Apply
  • Register through the online application portal
  • Complete the eligibility form and upload your supporting documents
  • Complete the project application form and upload the budget and any supporting documentation you wish to share.
  1. Black Entrepreneurship Program (BEP)

Another grant-issuing institution that a black business owner can access in Canada is the Black Entrepreneurship Program (BEP). The Black Entrepreneurship Program (BEP) is a partnership between the Government of Canada, Black-led business organizations, and financial institutions totaling $291.3 million worth of investment.

The BEP also includes a Black Entrepreneurship Knowledge Hub to help identify barriers to success and opportunities for growth. Through the Black Entrepreneurship Loan Fund, a component of the BEP, black entrepreneurs and business owners can apply for loans of up to $250,000 through the Federation of African Canadian Economics (FACE).

Requirements
  • The business must be a black-owned business that is based in any city in Canada
  • Present a Detailed Business Plan
  • Provide financial projections for two to three years and up-to-date financial statements
  • Provide up-to-date income tax returns (T1 and T2) with notice of assessments and a Personal Statement of Affairs
How to Apply

To apply for the Black Entrepreneurship Loan Fund, you are required to visit their website and create your profile.

  1. The Federation of African Canadian Economics (The Black Entrepreneurship Loan Fund)

The Federation of African Canadian Economics is a national and bilingual Black-led nonprofit organization that is focused on providing resources and information to Black communities all across Canada with the aim of accelerating wealth creation for Canadians of African descent.

In partnership with the Government of Canada, The Federation of African Canadian Economics created a Black Entrepreneurship Loan Fund to help Black business owners with access to capital investments, working capital, or additional business resources for expansion.

Requirements

Eligible businesses may include start-ups and existing for-profit small businesses in Canada. Such businesses can be corporations or sole proprietors, and for-profit social enterprises and cooperatives. Businesses must have a business plan, business registration, and recent financial statements or financial projections.

  • The owner of the business must be at least 18 years old
  • The owner of the business must be of black descent
  • The owner of the business must be at minimum a permanent resident of Canada.
How to Apply

To apply, you are required to fill out the application form on their website and also upload all the required documents as stated on their website.

  1. Pitch Better

Another foundation that is awarding grants to black-owned businesses in Canada is Pitch Better. Unsatisfied by the lack of support for Black founders’ start-ups in the Canadian business eco-system, minimal support from incubators/accelerators and other localized innovation platforms, Pitch Better came up with a solution to address data gap issues and the lack of market information available for diverse and specifically Black-led/Black-serving women’s organizations in Canada.

From 2019 to date, Pitch Better has offered support to over 700 Canadian companies and helped almost 10 percent of businesses in their immediate community to access grants.

Requirements

To be eligible for this grant, an applicant must:

  • Be an organization that is Black-owned and/or Black-led – this means that the majority of your owners and/or leadership team identify as Black
  • Be a registered Canadian business with a valid business registration number
  • Share how the COVID19 has impacted your business
  • Provide an overview of how funds will be used to help sustain your business through the pandemic (e.g., technology support, certifications, skilling, digitizing, etc.)
How to Apply

To apply for this grant, eligible applicants are required to submit their applications to info@pitchbetter.ca