National Expansion of Micro-Loan Program Announced
The Federation of African Canadian Economics Coalition (FACE) today announced the national expansion of its Micro-Loan Program, in partnership with the Business Development Bank of Canada (BDC). This expansion significantly increases access to capital for Black entrepreneurs across Canada, building on a successful pilot in Ontario and British Columbia.
Originally launched in May 2021, the pilot 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. Now, FACE is scaling the program nationally, expanding its lending offering to include loans from $10,000 to $250,000 to better meet the evolving needs of Black entrepreneurs.
Support from Government Officials
“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.”
Addressing Barriers to Capital
“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 Credit Union Limited and Vancouver City Savings Credit Union (Vancity), the initiative helped address critical financing gaps for Black-owned businesses. With the national expansion, FACE and BDC aim to ensure that Black entrepreneurs across all provinces and territories can benefit from these financial resources.
