TORONTO – BUSINESS – Futurpreneur Canada is increasing its loan offering to young entrepreneurs starting on June 18, 2019. Futurpreneur will now offer up to $60,000 in financing to aspiring business owners ages 18 to 39, in partnership with the Business Development Bank of Canada.
Launching a business can be really tough, especially for young entrepreneurs. There are so many different start-up costs, and the reality is that young people often have the hardest time accessing loans to start their businesses.
The loan increase is designed to give young entrepreneurs across Canada an even better shot at launching their own business.
“We know that young entrepreneurs often need a substantial amount of support when opening a business,” says Karen Greve Young, Futurpreneur’s CEO. “This loan increase provides aspiring business owners with more financial runway to launch their business. When matched with our mentoring program, entrepreneurs are put in a strong position for success in a highly competitive economy.”
While young people often create some of the most exciting, innovative and socially conscious businesses in the country, they often have trouble accessing traditional lending.
“We hope this increased loan amount will enable young, aspiring entrepreneurs to spend more time and energy on building their business and less time worrying about paying the bills,” adds Greve Young.
Futurpreneur continues to be the only non-profit in Canada that provides young entrepreneurs with financing as well as an experienced business mentor for up to two years. Futurpreneur also has a host of innovative business resources, including the free online Business Plan Writer that’s been used by more than 130,000 aspiring entrepreneurs.
Futurpreneur previously offered up to $45,000 in financing. The $15,000 loan increase now allows young entrepreneurs to take their businesses a step further. A young coffee shop owner, for example, can now purchase that new espresso maker or hire their first employee. Other young business owners will be able to do badly-needed renovations, create a new website, venture into online marketing or purchase more inventory.
Aspiring Canadian entrepreneurs ages 18 to 39 can now apply online to the Futurpreneur Start-up Program to receive up to $60,000 in financing by visiting https://www.futurpreneur.ca/en/landing-page/loan-change