Futurpreneur Canada financing

Younger buyers may come across this program when looking for money to buy a small business. The Government of Canada describes Futurpreneur as a national not-for-profit that gives young entrepreneurs access to financing, mentorship and other business supports. ISED has said it works with BDC as co-lending partner on its collateral-free lending.

What the program says about itself

Futurpreneur’s Startup program page describes a flexible, equity-free loan, including financing from BDC, to start or buy a business, plus mentorship. To be eligible, applicants must be Canadian citizens or permanent residents within the page’s age range, must submit the full application, including a business plan and cash flow, before reaching its upper age limit, and cannot be an agent or contractor working for another already-existing business. A one-time loan management fee applies at disbursement. Amounts and terms change, so read the current page rather than a summary.

What to confirm

• Whether the business being bought fits the program’s current rules.
• How the loan fits with other financing, such as a CSBFP loan or a BDC loan.
• What the loan agreement requires of the borrower.

Our answer on stacking CSBFP, BDC and credit union loans shows how lenders view combined funding.