Need funding to start or grow your business?
We lend based on the viability of your plan and the strength of your vision, so you may qualify with us even if you haven’t with other lenders. You can apply for loans up to $150,000, with an additional $50,000 of potential lending available through our partnership with Women’s Enterprise Organizations of Canada (WEOC).
Learn more at our business loan information session.
BUSINESS INFORMATION SESSIONS
What Makes Us Different:
- Application process
We work with you to understand your vision, determine the ideal amount of financing and ensure you have a solid foundation to leverage the funds. We also work with other lenders to provide additional funding. - Expert business advice
We match you up with a Business Advisor who is there just for you. Whether you need advice or a friendly ear, we’re only a call away. - Skills training and mentoring
We provide access free skills training and mentoring programs to acquire the practical, applied skills that are pivotal to business success. - Eligibility criteria
We can approve loans based on the viability of your plan, so you can access financing to start your business, or operating capital to fuel your growth. - Flexible terms
We make our lending decisions in-house, so we can adapt to your needs and offer customized solutions.
All applicants must be:
- A Canadian citizen or Permanent Resident
- Over 19 years old
Funding Programs:
Loan of up to $150k to start, grow or buy a business, plus unsecured options for Indigenous and Immigrant women. Women who apply for $50,000 or less may qualify for our Equal Access to Capital (EAC) program which does not require specific security.
Additional Eligibility:
- A woman who owns and controls at least 51% of a business that is registered and located in BC, or 50% for wife-husband teams
- Residing in BC
Program Overview:
- Best Suited for: Start-ups and growth oriented businesses that need working capital
- Financing amount: Up to $150,000
- Business location: BC
- Credit Score: No Minimum, with exceptions
- Equity: 25%
- Security: 30%; unsecured loans up to $50k are available
- Interest Rate: Prime +2% – Prime +5%
- Payment Schedule: Flexible, interest-only for first 6 months
- Maximum Amortization: 5 years
To make it easier for young women business owners to secure financing, we have partnered with Futurpreneur Canada to offer an unsecured joint loan of up to $70,000.
Additional Eligibility:
- Between the ages of 19 and 39
- A woman (or women) who owns and controls at least 51% of a business that is registered and located in British Columbia
- Residing in British Columbia
Program Overview:
- Best Suited for: Youth under 40 who not have collateral
- Financing amount: Up to $70,000
- Business location: BC
- Credit Score: Minimum 650, with exceptions
- Equity: Match Futurpreneur
- Security: Unsecured
- Interest Rate: Match Futurpreneur
- Payment Schedule: Flexible, interest-only for first 6 months
- Maximum Amortization: 5 years
WeBC is proud to be the BC Loan Fund Partner for the national $34 million WEOC National Loan Program for women and non-binary entrepreneurs as they start, scale, grow and maintain their business.
Additional Eligibility:
- Be over 50% woman-owned
- Have less than $2 million in gross annual revenues
- Be owned by a Canadian citizen or be a legal entity owned and controlled by a Canadian citizen
- Have a business plan, including cash flow forecasts for a minimum of two years
Program Overview:
- Best Suited for: Startups and growth-oriented businesses that have a business plan, including cash flow forecasts for a minimum of two years.
- Financing amount: Up to $50,000
- Business location: Canada
- Credit Score: No Minimum
- Security: Unsecured
- Interest Rate: Up to Prime +4%
- Maximum Amortization: 5 years
WeBC and Vancity have partnered to offer women more access to the funds they need, more networking opportunities with like-minded people, and more advice from experienced mentors with the Women Entrepreneurs Program with 2 programs: Startup and Growth.
Additional Eligibility:
- A woman who owns and controls at least 51% of a business that is registered and located in BC
- Located in the Lower Mainland, Fraser Valley (up to and including Hope), Victoria, or Sea to Sky region.
Learn how you can complete your funding puzzle with support on speaking to investors and securing equity capital with this 12-week program. WeBC has partnered with www.investoready.org to help women business owners take charge of investor Q&As.
This program is open to BC business owners who:
- Are a woman or non-binary founder of a company that is incorporated or ready to be incorporated;
- Are willing to commit at least 40 hours to learn about financing and investment capital over a 12-week period; and
- Have a company with a strong value proposition.
How to Apply
If you intend to apply for a loan from WeBC to start, expand or purchase a business you will need to provide all items on the Loan Application Checklist, and participate in one of our weekly phone-in info sessions about the loans program.
Sessions are held on Tuesdays at noon (PT). During this session, the facilitator will:
- Review our lending criteria
- Answer your questions
- Advise you on how to apply
- Provide you with a resource package
- Provide information on our loan programs, including the WEOC National Loan Fund
An Advisor will work with you to determine if you are eligible for a loan with us and can help you decide which loan program will match the needs of your business.
If you have already attended a Business Loans Information session and would like more information or an application, please email Kelly Masson, Business Advisor.