Loan application

If you wish to apply for loan from the FONDS AFRO-ENTREPRENEURS, you must fulfill a number of important conditions and criteria:

  • Be aged 18 or over
  • Be a member of one of Québec’s Black communities
  • Have a business plan or be the head of a business that was founded within the past five years
  • Have experience or training that is relevant to the project for which you are applying for a loan or guarantee
  • Demonstrate your company’s potential for success
  • Be the head of a business that is an incorporated or registered profit-making enterprise, carrying on a legal economic activity

How to submit a loan application

All applications submitted to the FONDS AFRO-ENTREPRENEURS must be in writing, and specify the key components of your request, including the desired amount and term of the loan.

You must provide a clear, detailed profile of your project or your company. We recommend that you also include all relevant information that can help us better understand your project, for example:

  • Your résumé and that of the key company personnel
  • A description of your company’s current or future activities
  • A description of your company’s growth perspectives
  • A description of the specific needs prompting your application for financing (what will the loan be used for?)
  • Your financial statements (for an existing company)
  • Your financial forecast If applicable, a description of current contracts (with clients, suppliers, associates, employees or others)

Getting a loan

The FONDS AFRO-ENTREPRENEURS is aimed specifically at any businessperson from one of Québec’s Black communities who is the head of a young company that has been in existence for less than five years or is starting up. The requested amount must be between $5,000 and $25,000. If required, extended financing of up to $75,000 can be awarded.
Find out more

Loans from the Fund can be used to finance equipment purchases as well as meet cash flow and working capital requirements.

A wide range of projects

No industry segments are excluded, making a diverse range of projects eligible to benefit from FONDS AFRO-ENTREPRENEURS financing: applicants can be self-employed workers and young companies in a variety of fields encompassing the production, transformation, trade and service industries—regardless of activity sector

Copyright ® 2012 Tous droits réservés, Fonds afro-entrepreneurs.