Can a newcomer use BDC’s Newcomer Entrepreneur Loan to buy a business?

BDC’s newcomer pages, read 25 October 2026, do not say that the Newcomer Entrepreneur Loan can be used to buy a business. The hub page invites people with no credit history to ask about it and marks it “subject to approval”. It describes the money as being used to grow your company. This is general information, not a decision about whether any loan is available to you.

The status condition

BDC’s loan information request page says that to be eligible you must have immigrated to Canada within a period the page sets and have permanent resident status, as well as a viable business plan. The hub page lists permanent resident status or protected person status. A work permit is not among the statuses either page lists. The lender does not decide anyone’s immigration status.

What the immigration pages show

IRCC’s Start-up Visa page, read 25 October 2026, says applicants needed a valid 2025 commitment certificate and had to apply by June 30, 2026, and that the program is closed to all other applications. IRCC’s Provincial Nominee Program page, read the same day, says that you contact the province or territory to apply for a nomination. Deavo is not an immigration adviser. IRCC’s representatives page says only authorized representatives may be paid for immigration help: lawyers and paralegals in good standing with a Canadian law society, notaries in good standing with the Chambre des notaires du Québec, and licensed immigration consultants (RCICs) in good standing with the College of Immigration and Citizenship Consultants. Start from the official program pages.

Where acquisition financing sits

BDC has a separate page for its Business Purchase or Transfer Loan, which it describes as financing to help you buy a business. BDC’s article on buying a business as a new immigrant tells the story of one couple whose broker connected them with BDC to secure financing to purchase the business. It is one account, not a rule about who is approved. Ask BDC directly which of its products fits a purchase and whether your immigration status affects it. For the wider picture of funding a purchase, see how much money you need to buy a business.