Business loans for women, Black and Indigenous entrepreneurs in Canada: what's open in 2026?

Canada has several loan funds built for women, Black and Indigenous entrepreneurs, and most of them are open in October 2026. The Women Entrepreneurship Loan Fund lends up to $50,000 through delivery organizations and was renewed on June 22, 2026. The Black Entrepreneurship Loan Fund, run by the Federation of African Canadian Economics (FACE) with BDC, lends up to $250,000, though its smaller microloan pilot has ended. Indigenous Financial Institutions lend to First Nations, Métis and Inuit businesses on institution-specific terms. Futurpreneur runs dedicated Black and Indigenous startup streams of up to $75,000 for founders aged 18 to 39. All of them are loans, not grants, and all of them assess the same core question a bank does: can the business repay?

Which loan funds target women, Black and Indigenous entrepreneurs?

Five groups of lenders cover most of the targeted financing in Canada. The table summarizes each one as its own program pages describe it.

Fund	Who's eligible	Amount	Delivered by	Status (Oct 2026)
Women Entrepreneurship Loan Fund	Women entrepreneurs starting or growing a business	Up to $50,000	WEOC, NACCA (through Indigenous Financial Institutions), Nventure, Evol	Open; renewed June 22, 2026
WeBC business loans (B.C.)	Women who own and control at least 51% of a B.C. business (50% for wife-husband teams)	Up to $150,000	WeBC, the B.C. partner of the WEOC National Loan Fund	Open
Black Entrepreneurship Loan Fund	Applicants who self-identify as Black or Black-led (more than 51% Black Canadian ownership), aged 18+, Canadian citizens or permanent residents	$25,000 to $250,000	FACE, with BDC	Open for $25,000 and up; microloan pilot ended March 31, 2025
Indigenous Financial Institutions	First Nations, Métis and Inuit businesses; each institution sets its own eligibility	Institution-specific	50+ institutions in NACCA's network	Open; terms vary by institution
Futurpreneur Black and Indigenous streams	Self-identifying Black or Indigenous founders aged 18–39 in their first two years of business	Up to $75,000	Futurpreneur, with BDC	Open

The amounts are maximums, not typical loans. Each lender sizes the loan to what the business can repay.

What is the Women Entrepreneurship Loan Fund?

The Women Entrepreneurship Loan Fund is a federal fund that pays partner organizations to deliver loans of up to $50,000 to women entrepreneurs. ISED's program page names four delivery organizations: the Women's Enterprise Organizations of Canada (WEOC), the National Aboriginal Capital Corporations Association (NACCA), Nventure and Evol. NACCA delivers the fund through Indigenous Financial Institutions, so Indigenous women can apply through a local institution.

The fund has been topped up twice. ISED says it began with $55 million in Budget 2021, received $12 million in March 2025, and received a further $59 million in June 2026. The June 22, 2026 announcement committed $173.7 million over five years to the wider Women Entrepreneurship Strategy, including that $59 million, and said partners had already delivered "more than 1,600 loans" to women entrepreneurs.

Because ISED does not lend directly, rates, terms and security come from the delivery organization. Two practical points follow. First, you apply to a partner, not to the government. Second, the partner's underwriting rules decide the file, so read that partner's criteria before you write the plan.

A common mix-up: the Women Entrepreneurship Knowledge Hub (WEKH) is a research and knowledge network that is part of the same strategy. It publishes data on women's entrepreneurship. It does not make loans.

How do WeBC loans work in British Columbia?

WeBC lends up to $150,000 to women-owned businesses in B.C. and is the province's partner for the WEOC National Loan Fund. Its business-loans page sets out the main terms:

• Ownership test: a woman who owns and controls at least 51% of the business, or 50% for wife-husband teams.
• Terms: up to five years, with interest-only payments for up to six months.
• Equity: WeBC says it "typically requires a minimum equity of 25%."
• Security: assets can include cash, stable non-RRSP investments, and business or personal assets such as equipment, vehicles or property. For loans of $50,000 or less, WeBC's Equal Access to Capital program does not require specific security.
• Stage: market-ready startups, expansions and business purchases qualify. Pre-start-up projects that need seed or early-stage capital do not.

WeBC is also clear about what it isn't: "WeBC DOES NOT provide grants." For the rest of the B.C. lending picture, including Community Futures and credit unions, see our guide to small business loans in B.C..

What is the Black Entrepreneurship Loan Fund?

The Black Entrepreneurship Loan Fund is the lending arm of the federal Black Entrepreneurship Program, delivered by FACE in partnership with BDC. Its October 20, 2025 renewal committed up to $189 million over five years (2025 to 2030) to the program, including up to $67 million for the Loan Fund "to provide loans of up to $250,000." The same release reported that 801 loans worth more than $70.6 million had been approved under the fund.

The eligibility rule, in ISED's words: an applicant must "self-identify as Black or Black-led (majority ownership of >51% by Black Canadians)," be a Canadian citizen or permanent resident (or an entity owned and controlled by Canadian citizens), and be at least 18.

The amount range changed in 2025. ISED's FAQ says the $10,000 to $25,000 microloan pilot "concluded on March 31, 2025, and has not been extended at this time," while applications for $25,000 and above "continue to be accepted and processed." Some grant-list sites still describe the microloan as available. It isn't.

On structure, the same FAQ says FACE can provide loans of up to $100,000, and loans above that amount are risk-shared with BDC. Applications start on the FACE loan portal, with BDC handling underwriting. In practice, that means a larger request is assessed against BDC's credit standards as well as the program's, so the repayment case in the plan carries real weight.

How do Indigenous Financial Institutions lend?

Indigenous Financial Institutions are autonomous, Indigenous-controlled, community-based lenders that provide developmental loans and business support to First Nations, Métis and Inuit businesses. NACCA says there are more than 50 of them across Canada, and in September 2026 it reported that the network had delivered more than $3.6 billion through 55,000 loans over 30 years.

There is no national rate sheet or loan limit. Each institution sets its own eligibility, maximums, security and equity rules, so the right first step is the institution that serves your community and region. Two published examples show how specific those rules are.

Apeetogosan (Métis) Development Inc. (Alberta). Apeetogosan's FAQ asks applicants for proof of Métis heritage, a minimum credit score of 690, and "proof of your 10% cash equity." A finished business plan is not required to apply, but Apeetogosan strongly recommends its template, and a plan is developed with the applicant after the application. Its MEAP grant "cannot be issued on its own": the applicant must qualify for loan financing first, and the grant reduces how much needs to be borrowed. Apeetogosan's FAQ does not publish a maximum loan, and the figures on directory sites disagree, so confirm the ceiling with Apeetogosan directly. More Alberta options are in our guide to small business loans in Alberta.

Métis Financial Corporation of BC (MFC). MFC requires valid Métis identification and a minimum 10% equity contribution to total project costs. Its FAQ is direct on two points: "we require personal guarantees for all our loans regardless of amount requested," and "The MFC requires business plans for all loan requests." An existing plan can be submitted as support, but applicants still complete MFC's own business-plan process. MFC does not offer stand-alone grants; its grant funding is always combined with a loan. MFC estimates about two months from a complete application to board review.

What do Futurpreneur's Black and Indigenous streams offer?

Futurpreneur runs two dedicated streams alongside its core program, each offering up to $75,000 in loan financing plus up to two years of mentorship.

• Black Entrepreneur Startup Program: for founders who self-identify as Black, are Canadian citizens or permanent residents aged 18 to 39, and whose business is not yet operating or has operated full time for 24 months or less. Founders who identify as both Black and Indigenous are welcome to apply.
• Indigenous Entrepreneur Startup Program: for self-identifying Indigenous founders aged 18 to 39, on or off reserve, in their first two years of business, with a Futurpreneur-eligible business model and qualified credit standing.

In Futurpreneur's core program, the $75,000 is made up of up to $25,000 from Futurpreneur and up to $50,000 from BDC. The plan and cash-flow requirements are covered in our Futurpreneur business plan guide.

What do these lenders need to see?

These lenders are mission-driven, but they are still lenders. Across the program pages, three requirements come up again and again.

1. A plan that shows repayment capacity. Every lender here expects a business plan, and several state it outright: MFC requires one for every loan request, and Apeetogosan builds one with each applicant. The plan should show monthly cash flow that covers the new loan payments with room to spare, assumptions tied to evidence (quotes, letters of intent, comparable pricing), and a clear account of what the money buys. A use-of-funds section that matches the loan request line by line is the fastest way to make that case.

2. Owner contribution. Published minimums range from 10% (Apeetogosan, MFC) to a typical 25% (WeBC). The federal loan funds follow each delivery partner's underwriting, so check the number with the organization you apply to. Lenders also look for evidence that the money is in place, so bank statements usually carry more weight than a statement of intent. Our guide to equity injection and down payments covers what counts as owner contribution.

3. The program's ownership test. Each fund defines who qualifies, and the plan should show it plainly. WeBC requires at least 51% women ownership and control. The Black Entrepreneurship Loan Fund requires more than 51% ownership by Black Canadians for a Black-led business. Métis lenders ask for Métis identification or proof of heritage, and Futurpreneur's streams rely on self-identification plus an age test. If the business has partners, the ownership table in the plan should match the program's rule exactly.

Personal guarantees and security vary. MFC requires a personal guarantee on every loan, WeBC's smaller Equal Access to Capital loans need no specific security, and the federal funds follow their partners' rules. Ask before you assume either way.

Can these loans be combined with mainstream financing?

Often they can, but only where the programs and lenders involved allow it, and none of the program pages reviewed here publishes a general stacking rule. Many projects mix sources: an owner's cash, a targeted fund, and a bank or credit-union loan. For eligible equipment and leasehold improvements, that bank loan may be registered under the Canada Small Business Financing Program, where the government shares 85% of an eligible lender's loss after a default. The borrower still owes the full debt.

The practical rule is to put every source in one sources-and-uses table and disclose it to every lender. Each lender then decides whether it will lend alongside the others and on what security terms. For the full map of mainstream options (banks, credit unions, BDC and CSBFP), see our pillar guide to small business loans in Canada.

Bridge Note, a Canadian business plan service that writes lender-ready plans for BDC, CSBFP, and community loan fund applications, builds plans around those three requirements: a repayment case, documented owner contribution, and an ownership structure that matches the program's rule.

The bottom line

The targeted loan funds are real and mostly open in October 2026. The Women Entrepreneurship Loan Fund was renewed in June 2026 and lends up to $50,000 through its partners. WeBC lends up to $150,000 in B.C. The Black Entrepreneurship Loan Fund lends $25,000 to $250,000 through FACE and BDC, now that the microloan pilot has ended. Indigenous Financial Institutions lend on their own terms across the country, and Futurpreneur's Black and Indigenous streams offer up to $75,000 to founders aged 18 to 39. None of them are grants. Each one assesses repayment capacity, owner contribution and the program's ownership test, so the plan should answer all three on paper before the application goes in. If you'd like help building that plan, book a discovery call.

Frequently asked questions

Is the Women Entrepreneurship Loan Fund still open in 2026?

Yes. On June 22, 2026, ISED announced $173.7 million over five years to continue the Women Entrepreneurship Strategy, including $59 million for the Women Entrepreneurship Loan Fund. The fund provides loans of up to $50,000, and you apply through a delivery organization such as WEOC, NACCA's Indigenous Financial Institutions, Nventure or Evol, not through ISED directly.

Can I still get a $10,000 microloan from the Black Entrepreneurship Loan Fund?

No. ISED's FAQ says the $10,000 to $25,000 microloan pilot concluded on March 31, 2025 and has not been extended. Applications of $25,000 and above are still accepted and processed, up to a maximum of $250,000. Applicants start through the FACE loan portal.

Are these loan funds grants?

No. The Women Entrepreneurship Loan Fund, the Black Entrepreneurship Loan Fund, WeBC, Futurpreneur and Indigenous Financial Institutions all lend money that must be repaid with interest. WeBC states plainly that it does not provide grants. Some Métis lenders pair a grant with a loan, but Apeetogosan and the Métis Financial Corporation of BC both say the grant is only available alongside a loan.

Do I need to put my own money into the business?

Usually, yes, and the amount is set by each lender. WeBC says it typically requires a minimum equity of 25%. Apeetogosan asks for proof of 10% cash equity, and the Métis Financial Corporation of BC requires a 10% minimum equity contribution to total project costs. Federal loan funds delivered through partners follow each partner's own underwriting, so confirm the figure with the organization you apply to.

Can I combine one of these loans with a bank loan or CSBFP financing?

Sometimes, where the programs and lenders involved allow it. None of the program pages reviewed for this article publishes a general stacking rule, so the combination has to be confirmed with each lender. A plan that presents every source of funds in one sources-and-uses table makes that conversation far easier.

Sources

1. Women Entrepreneurship Loan Fund — Innovation, Science and Economic Development Canada
2. Minister Valdez announces new funding for the Women Entrepreneurship Strategy — ISED
3. Small Business Loans for Women — WeBC
4. Minister Valdez announces $189 million investment to help Black entrepreneurs start up, scale up, and build Canada's economy — ISED
5. Frequently asked questions: Black Entrepreneurship Loan Fund — ISED
6. The Indigenous Growth Fund — National Aboriginal Capital Corporations Association
7. Canada Investment Summit — National Aboriginal Capital Corporations Association
8. FAQs — Apeetogosan (Métis) Development Inc.
9. FAQ: Métis Business Loans in British Columbia — Métis Financial Corporation of BC
10. Black Entrepreneur Startup Program — Futurpreneur Canada
11. Indigenous Entrepreneur Startup Program — Futurpreneur Canada
12. Core Startup Program — Futurpreneur Canada
13. Canada Small Business Financing Program Guidelines — ISED