Artefact91 reposted this
Executive Director at The Inclusivity Institute for Better Data | Founder of Artefact91 | CEO of Wom3n and Co | Awarded: Canada's Top 100 Black Women to Watch 2024 & GTA Black Women in Tech
Did You Know? The Government of Canada is offering entrepreneurs over $10 billion in loans to support small businesses across #Canada through a program called the Canada Small Business Financing Program (#CSBFP) (https://lnkd.in/e6pcdbBN). This program allows loans of up to about $1.15 million *per borrower*, with specific conditions on the use of these funds for both tangible and intangible business assets. Eligibility Criteria: Small businesses or start-ups operating in Canada with gross annual revenues of $10 million or less are eligible. Farming businesses are not eligible under this program. For similar support, farming enterprises can visit the Canadian Agricultural Loans Act Program. Although this information is available on most banking websites (I will link them below), when visiting banks, many staff members are unaware OR #unwilling to say anything about the CSBFP. Surprisingly (not really), if you are a #Black entrepreneur, there is a tendency to be redirected to specific 'Black funding' instead of being informed about the CSBFP. My Question: Isn't this program meant to bridge existing systemic inequities for #all entrepreneurs? Why can't we access what the government is injecting into businesses, and why can't we benefit from both the general and specific 'Black funding'? Or are we #Black Entrepreneurs being excluded from #access on purpose? Find CSBFP details on these major banks' websites: Royal Bank of Canada (RBC) - https://lnkd.in/e6ieMpAH Toronto-Dominion Bank (TD) - https://lnkd.in/eEDxfPMy Bank of Montreal (BMO) - https://lnkd.in/ejqW7X6u Canadian Imperial Bank of Commerce (CIBC) - https://lnkd.in/ezkkgNNw Scotiabank - https://lnkd.in/eBitHWab Call to Action: Legislation to Eradicate Anti-Black Racism in Banking Practices If you’re ready to stand with us and push for real change, join the movement and/or #fund this petition! Your support, whether it’s signing, sharing or donating, makes a huge difference. 👉🏾 Sign the petition here: Change.org : https://lnkd.in/eq9BmAiy NewMode: https://lnkd.in/ePaB6-iv 👉🏾 Fund this petition here: https://lnkd.in/eq9BmAiy 👉🏾 To learn more, share your experience and get involved: external.relations@inclusivityinstitute.ca #BlackEntrepreneurs #Advocacy #SupportBlackBusinesses #ItIsNotOK #Entrepreneurship #RacialEquity #FundTheCause