Understanding Loan Experiences examines how today’s lending processes actually function from the borrower’s point of view, and where capable, growth‑ready businesses are being filtered out long before a credit decision is made.

Based on research with nearly 300 entrepreneurs, in‑depth interviews, and consultations with entrepreneurship support organizations, this report follows the full lending journey—from deciding whether to apply, to navigating applications, to responding to approval, denial, or silence. It shows how unclear eligibility criteria, complex documentation requirements, and limited relationship‑based support shape borrower behaviour and outcomes.

Rather than framing these outcomes as individual shortcomings, the report highlights how lending system design influences who participates, who persists, and who walks away.

Why This Matters for Financial Institutions

The research shows that lending outcomes are being shaped well before a credit decision is made—with measurable consequences for financial institutions:

• 28% of women entrepreneurs do not apply for a loan at all because they assume they won’t qualify, removing themselves from the lending pipeline before risk is ever assessed.
• 61% of women entrepreneurs report that existing financing options do not fit their business models, signaling a product–market mismatch rather than a lack of demand for capital.
• Only 40% of women entrepreneurs who apply for a business loan are successful, with many submitting just one application before disengaging entirely.
• Lenders lose potential long‑term clients with low default risk, while negative word‑of‑mouth and lost referrals further narrow future borrower pools.
• Canada has lost an estimated $150 billion in economic potential over the past eight years due to the gender gap in entrepreneurship, representing unrealized growth for both the economy and the financial sector.

Inside the report:

• What entrepreneurs experience when deciding whether to pursue a loan
• Where application complexity and inconsistency create drop‑off
• How credit and collateral requirements affect access and confidence
• Practical opportunity areas to improve clarity, engagement, and outcomes

This research is not about lowering standards or increasing risk. It is about understanding how lending systems operate in practice, and where small changes could lead to stronger pipelines, more resilient portfolios, and better alignment with today’s entrepreneurial realities.

Download the report to better understand where lending systems are losing viable borrowers—and what that means for your institution.

The post [Report] Understanding Loan Experiences for Women and Non-Binary Entrepreneurs appeared first on WeBC.

WEP recognizes the unique needs of women entrepreneurs, and supports financial inclusion by taking a holistic approach. The program includes financing from Vancity with wrap-around support services from WeBC, which include complimentary online education and resources on financial management, as well as professional business support and mentorship with a community of other women business owners throughout BC.

Leadership commitment to progress

When the program launched in 2020, it was not initially effective in increasing access to capital for women, as many barriers still existed in the application and approval process.

These barriers included a complicated application form, traditional definitions of risk, and a limited classification of years in business. Despite significant interest in the program, very few women were completing the application process and being approved for funding.

In response, the Vancity team showed leadership and commitment in recognizing the unique needs of women entrepreneurs and created new policies to address the gaps, including:

• Offering two types of financial products: an auto-approved line of credit up to $25k and a term loan up to $250k;
• Lowering the minimum credit score needed to qualify;
• Changing the definition of ‘new business’ to six months in operation vs. 12 months; and
• Educating the team on the support needed to guide women along the application process.

Advancing lending policies to be more inclusive

This is the first example of an internal policy shift that contributed to a more sustained systemic change to better serve the different growth pathways of women entrepreneurs. Vancity has led by example to show how financial institutions can implement new policies to recognize the needs of diverse women entrepreneurs in Canada.

WEP is a strong example of a values-driven initiative that has promoted genuine change in how women interact with financial institutions. It goes beyond a marketing initiative and considers how women create value with their businesses, define success, and need to be supported. This report shares the incredible impact of the program since its relaunch in 2021.

The post Vancity Women Entrepreneurs Program: Impact Report 2021 to 2025 appeared first on WeBC.

Are you a woman entrepreneur in Canada looking to grow your business? While the business landscape is always evolving, understanding past trends can offer valuable context. This page provides insights from a 2010 report analyzing the financing activities, challenges, and growth patterns of women-owned businesses in Canada. Please note that this report is 15 years old, and current conditions may differ.

Key Findings

• Significant Presence: Even in 2010, women-owned SMEs represented a substantial portion of the Canadian business landscape.
• Unique Characteristics: The report highlighted that women entrepreneurs often bring different experiences and operate in diverse sectors.
• Financing Access: The 2010 data indicated that while women-owned firms were as likely to seek financing, they might have faced challenges in securing approval, particularly for short-term debt.
• Growth Potential: The report suggested that firms with growth ambitions, regardless of gender, demonstrated stronger performance.

Recommendations

• Address Financing Barriers: The 2010 recommendations included initiatives to mitigate challenges women faced in accessing financing, such as credit history or collateral requirements.
• Focus on Growth Intentions: The report emphasized the importance of understanding the specific needs of women entrepreneurs based on their growth goals.

Access the full report for a detailed analysis of the 2010 landscape.

The post SME Financing Data Initiative October (2010) appeared first on WeBC.

Starting or growing a business takes more than a great idea, it also takes capital. Whether you’re launching a new venture, expanding operations, or managing cash flow, understanding your financing options is critical to making informed decisions.

This free downloadable guide from WeBC provides a comprehensive overview of business financing options available to women entrepreneurs in British Columbia.

What You’ll Find Inside

• Types of Business Financing: Learn the differences between debt financing, equity investment, and alternative funding sources.
• Preparing to Apply: Discover what lenders and investors look for, and how to strengthen your financing proposal.
• Funding Directory: Access a curated list of financial institutions, loan programs, grants, and investment resources.
• Financial Planning Tips: Explore guidance on building your budget, forecasting, and managing risk.

Who Should Use This Guide?

• Women exploring entrepreneurship for the first time
• Business owners looking to scale or pivot
• Anyone seeking clarity on how to finance a business in today’s market

Important Note: This guide is not an exhaustive list of funding options. It is designed to help you get started, but we strongly encourage you to conduct your own research and seek professional advice to determine the best financing path for your business needs.

Gain the confidence and clarity you need with our free on-demand SMART course, “Financial Fitness: Keep Your Business Financially Healthy“. This practical course will help you understand your numbers, make informed financial decisions, and strengthen your business for long-term success! Learn more >>>

The post Financing your Business appeared first on WeBC.

Join WeBC and Purpose CPA for an insightful session designed for entrepreneurs who are beyond their first three years of operation and are ready to level up their financial strategy.

Whether you’re managing expansion, optimizing cash flow, or navigating the world of financing and taxes, this session will help you stay on track for long-term success. We’ll explore the financial practices every growing business needs to thrive, including:

• Key strategies to scale your business effectively
• The financial metrics that matter most
• How to assess your business health through critical financial ratios
• How to access and manage larger financing options
• Best practices to reduce your tax burden and ensure compliance

Facilitator: Cathy Burrell, WeBC Client Services Coordinator

Panelists: Chad Chang, Purpose CPA

The post Financial Survival for Entrepreneurs appeared first on WeBC.

Grants come in many forms – from tax credits to incentives and project funding. Yet, finding the right ones for your business can be confusing, and the application process can be time consuming.

In September 2024, WeBC partnered with Pocketed to give an overview of the grant landscape and help you understand where to invest your time to access ‘free’ money.

In this session recording, you’ll learn:

• How to navigate the funding landscape and leverage opportunities for your business projects.
• The distinction between fundable and non-fundable activities.
• How to determine your company’s eligibility for funding and identify the most suitable program opportunities.

Facilitator: Cathy Burrell, WeBC Client Service Coordinator

Panelist: Brianna Blaney, CEO & Co-Founder of Pocketed

The post Demystifying Grants for Small Businesses appeared first on WeBC.

We’ve all been there before: what begins as a passing thought about paying a couple of bills can snowball into full blown anxiety about your financial future. As a business owner, finances can be a constant source of stress, but it doesn’t have to be. Don’t let the fear of jumping into the financial world, prevent you from improving your financial knowledge!

In this webinar, Sarah Guizzo, WeBC Business Advisor explained the basics every entrepreneur should know when it comes to financials. This enlightening session will break down the terminology and build up your knowledge so you can make better, informed business decisions that will help when it comes to applying for future finance. In this session covered:

• Credit score and why it is important
• Different types of finance and how to access them
• Understanding agreements and their terms

If you want to understand your financial options, see through the jargon, and build your financial literacy, so you can take control of your business decisions and actions, then this is the recording for you!

Facilitator: Sarah Guizzo, Business Advisor, WeBC

Would you like to have a clear understanding of your business financials? Check out our free On-Demand SMART course, “Financial Fitness: Keep Your Business Financially Healthy.”

The post The Ultimate Beginner’s Guide to Understanding Financial Literacy & Accessing Capital appeared first on WeBC.

To better understand how and why this combination is so powerful, in fall of 2021, we conducted a survey of BC women business owners. We received 291 responses from women, 48% of whom had not accessed our services in the past year.

This report is a follow-up to our November 2020 survey and report, The Path Forward: Advancing the Funding Journeys of BC Women Business Owners, which offers recommendations to funders on how to develop varied funding pathways for women business owners.

Now, we take a deeper dive into the opportunities for funders and support organizations to work together to transform women’s experiences with the lending ecosystem.

Join us in closing the gap for BC’s women entrepreneurs

From complimentary wrap-around supports for your loan clients, to joint loans and program partnerships, WeBC can help!

The post Closing the Gap: Meeting the Unique Borrowing Needs of BC’s Women Business Owners appeared first on WeBC.

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.

This document outlines the following:

1. Eligibility
2. Information required
3. Loan application processing
4. Evaluation criteria
5. Ineligible projects
6. Benefits of WeBC lending

To learn more, join our FREE Business Loan Info Session.

The post WeBC Business Lending Program Summary appeared first on WeBC.

Start your journey to business success with confidence! Whether you’re looking to start, expand, or purchase a business, WeBC is here to support you every step of the way. There are two important steps in applying for a WeBC loan:

Step 1: Prepare Your Documents

To complete your loan application, you’ll need to gather the required documents listed in our loan application checklist. These documents help us assess your application and provide the best possible support tailored to your business.

Download the Loan Application Checklist

Step 2: Attend a Mandatory Business Loan Info Session

As part of the application process, all applicants must participate in one of our free, bi-weekly Business Loan Info Sessions. These sessions ensure you understand the application requirements, set clear expectations, and provide tips for success.

What You’ll Gain:

• A clear understanding of what’s required for your application
• Expert advice to strengthen your application
• A chance to ask questions and learn how WeBC supports your goals

Reserve your spot today to move forward with your loan application!

Sign Up for a Business Loan Info Session

The post WeBC Loan Application Checklist appeared first on WeBC.

Are you a business owner looking for funding options but finding yourself overwhelmed?

With all the funding options out there, it can be difficult to sift through what’s available and find the best fit for your business. If you want to discover what you didn’t know about Canadian funding opportunities, then this session is for you!

Jacqueline Gustafson, Director, Tax Incentives Practice at KPMG LLP walks through the Canadian funding landscape from application to end, so you can spend less time searching for opportunities and more time growing your business.

In this workshop you’ll learn:

• What Government programs are available for businesses, including
  • Grants
  • Loans and incentives
  • Tax credits and deductions
• About application processes including expectations and process timelines
• How to strategically prepare your application for government funding
• What assistance is available to help you on your journey

No matter what stage of business you are in, there are funding options to fit everyone.

From October 28, 2021

The post Funding Masterclass: Finding the Right Model for Your Business appeared first on WeBC.

In partnership with the Women Entrepreneurship Knowledge Hub (WEKH), the Brookfield Institute for Innovation + Entrepreneurship (now The Dais) conducted in-depth interviews with 30 high-growth women entrepreneurs across Canada.

This report explores the experiences of women founders as they scale their companies, revealing divergent pathways to growth, persistent systemic barriers, and funding challenges. Most importantly, the report presents opportunities and recommendations for government, policymakers, financial institutions, other funders, business support organizations and stakeholders in the entrepreneurial ecosystem who are seeking to champion the success of high-growth women entrepreneurs.

Ce rapport est également disponible en français.

The post Growing Their Own Way: High-Growth Women Entrepreneurs in Canada appeared first on WeBC.