FACE expands Micro-Loan Program nationally in partnership with BDC, increasing access to capital for Black entrepreneurs across Canada
Français
Powered by FACE and delivered in collaboration with the Business Development Bank of Canada (BDC), the expansion builds on a successful Ontario and British Columbia pilot to bring micro-financing opportunities to Black entrepreneurs nationwide
MONTREAL, June 30, 2026 /CNW/ - The Federation of African Canadian Economics Coalition (FACE) today announced the national expansion of its Micro-Loan Program, marking a significant milestone in increasing access to capital for Black entrepreneurs across Canada.
Originally launched in May 2021 and piloted in Ontario and British Columbia through partnerships with Alterna Savings and Credit Union Limited and Vancouver City Savings Credit Union (Vancity), the program provided loans ranging from $10,000 to $25,000 to support early-stage and growth-stage Black-owned businesses. The pilot officially concluded on March 31, 2025, demonstrating strong demand and measurable impact within the regions served .
Building on this momentum, FACE is now scaling the program nationally, in collaboration with BDC, while expanding its lending offering to include loans ranging from $10,000 to $250,000 to better meet the evolving needs of Black entrepreneurs across Canada.
"The expansion of FACE's Micro-Loan Program is great news for Black entrepreneurs across the country. With the program now available nationally, more entrepreneurs will be able to access the financing they need to start, grow and scale their businesses," said the Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism). "Black entrepreneurs are creating jobs, strengthening communities and contributing to a stronger Canadian economy. Our government is proud to support their success through partnerships like this one with FACE and BDC. Congratulations to FACE and BDC on adding this new financing option for entrepreneurs across the country."
"Access to capital remains one of the most significant barriers facing Black entrepreneurs in Canada. The expansion of our Micro-Loan Program nationally represents a critical step toward closing that gap and ensuring Black-owned businesses, regardless of location, can access the financing they need to start, grow, and scale," said Tiffany Callender, CEO and Co-Founder, FACE Coalition. "Through our collaboration with BDC and continued support from the Government of Canada, we are building a more inclusive and equitable economic landscape."
The national rollout reflects FACE's continued leadership in administering the Black Entrepreneurship Loan Fund, while strengthening partnerships with federal institutions and financial organizations to deliver meaningful, accessible funding solutions tailored to Black founders.
From pilot to national impact
The Micro-Loan Program was first introduced as part of the broader Black Entrepreneurship Loan Fund, with a focused pilot in Ontario and British Columbia targeting entrepreneurs seeking smaller-scale financing between $10,000 and $25,000. Delivered by FACE in partnership with Alterna Savings and Vancity, the initiative helped address critical financing gaps for Black-owned businesses.
As of 2026, the program has officially entered its next phase, supported directly by FACE through funding from Innovation, Science and Economic Development Canada (ISED). Now launched nationwide, the initiative is available to Black entrepreneurs across Canada, marking its transition from a regional pilot to a scalable, Canada-wide solution.
Increasing accessibility to micro-funding
The program is designed to provide accessible, flexible financing to a broad range of Black entrepreneurs, with a focus on:
- Early-stage businesses requiring initial capital
- Entrepreneurs underserved by traditional lending institutions
- Businesses seeking growth financing at manageable amounts
By expanding eligibility and increasing the loan range, FACE aims to ensure that Black entrepreneurs across Canada can access right-sized capital at every stage of their business journey.
A national platform for Black economic growth
The expansion of the Micro-Loan Program reinforces FACE's broader mission to drive Black economic empowerment and long-term wealth creation through access to capital, strategic partnerships, and ecosystem support.
Through its collaboration with BDC and government partners, FACE continues to position Black entrepreneurship as a key driver of innovation, job creation, and inclusive economic growth in Canada.
About FACE Coalition
Founded in 2021, FACE Coalition is a national, bilingual, Black-led non-profit dedicated to stimulating economic growth and creating generational wealth for Canadians of African descent. As administrator of the Black Entrepreneurship Loan Fund, a $160 million fund backed by the Government of Canada and the Business Development Bank of Canada, FACE has approved over $67 million in loans and disbursed more than $50 million to nearly 600 Black-owned businesses across Canada.
About BDC, Canada's bank for small- and medium-sized business owners
BDC focuses on small- and medium-sized business owners, providing them financing, investment, and advice. As Canada's development bank, we also support entrepreneurs who don't fit the traditional mold working with a network of partners and help develop underserved markets to unlock economic potential. Our mission is to build strong, resilient businesses that drive Canada's economic growth. BDC is a perennial Canada's Top 100 Employer and B Corp certified. Learn more at bdc.ca or connect with us on social media.
SOURCE Federation of African Canadian Economics
MEDIA INQUIRIES: For media inquiries or interview requests: Isabelle Desmarais Director, Marketing and Communications, FACE Coalition [email protected]
Share this article