15 Business Grants and Loans for Women in Canada

The #ZensuranceGrant2024 application is open to all Canadian* entrepreneurs, startups, and small business owners with a compelling story to tell about their businesses.

* Excluding Quebec, Yukon, Nunavut, and the Northwest Territories

Where to Find Business Grants for Women

In Canada, there are many options for funding new business ventures – most are focused on an industry or specific types of businesses, such as technology startups.

With loans, you’ll generally be able to apply whenever you need the money, but business grants run on a schedule, be it quarterly, annually, or every few years. Some business grants for women are national in scope, while others are limited to a province or supported by local economic development groups.

Without further ado, here are 15 business grants and financing options that are either geared exclusively toward women entrepreneurs or that aspiring and established women business leaders can apply for:

1. Women in Trade

Is the wider world the apple of your eye? Export Development Canada’s (EDC) ‘Women in Trade’ services are designed to help Canadian women-owned and -led businesses succeed in international markets. They do this by offering financial solutions and a bevvy of resources. For example, EDC’s Inclusive Trade Investments Program assists diverse women-owned businesses in addressing underfunding challenges by providing equity capital.

2. The Zensurance Small Business Grant 2024

Although not exclusive to women entrepreneurs and business owners, we thought highlighting Zensurance’s annual Small Business Grant was worthwhile. Zensurance offers a $10,000 grant to one Canadian* small business, startup, self-employed professional, or entrepreneur and five $1,000 grants to others awarded in late November. The application window for 2024 opened on September 3, 2024. You have until November 8, 2024, to apply.

* Excluding Quebec, Yukon, the Northwest Territories, and Nunavut.

3. Scotiabank Women Initiative

The Scotiabank Women Initiative is not a grant but a program for those who identify as women or non-binary. It’s designed to increase their economic and professional opportunities to be successful through access to capital, advisory services, and mentorship.

4. DELIA Micro Loan Program

The DELIA Micro Loan Program is offered through the Northumberland Community Futures Development Corporation with funding from FedDev Ontario and the federal government. It provides affordable $15,000 loans to women-owned, for-profit businesses across Canada. You must be a Canadian citizen or permanent resident, reside in Canada, be a sole proprietor or an organization that is more than 50% woman-owned, and be at least 19 years old to qualify.

5. Amber Grant for Women

Open to both Canadian and American women entrepreneurs, the Amber Grant offers a $10,000 grant each month. Monthly winners are also eligible to win another $25,000 at the end of the year. The deadline to qualify for the $10,000 September grant is September 30, 2024. Note: there is a $15 application fee.

6. Community Business Development Corporations (CBDCs)

Founded in 1975 to help startups and small businesses in Atlantic Canada thrive and grow, CBDCs provides loans, loan guarantees, equity financing and technical services to existing and aspiring entrepreneurs. Although not exclusive to women, many programs are suitable for many different business needs. CBDCs aim to help entrepreneurs who require customized financing unavailable from traditional sources.

7. Women Entrepreneurship Loan Fund

The Women Entrepreneurship Loan Fund offers up to $50,000 micro-loans to women entrepreneurs and business owners to expand their companies and tap into new markets. Offered through Innovation, Science and Economic Development Canada, loans are provided by government-recognized not-for-profit organizations, including the Women’s Enterprise Organizations of Canada, the National Aboriginal Capital Corporations Associations, the Northumberland Business Development Assistance Corporation, Coralus, and Evol. Each not-for-profit has its application and qualification guidelines.

8. PARO Centre for Women’s Enterprise

PARO is a not-for-profit that aims to empower women small business owners in Ontario and promote community economic development through a microfinancing program. It offers several funding programs for grants and loans for women and non-binary entrepreneurs.

9. Women’s Enterprise Centre

The Women’s Enterprise Centre of Manitoba offers a range of resources and support for women entrepreneurs in that province, including loans of up to $150,000 for startups or small businesses looking to expand their operations.

10. WeBC

Formerly known as the Women’s Enterprise Centre of British Columbia, WeBC provides business loans of up to $150,000 for women entrepreneurs in B.C. Loans are available for startups to scale and grow, to acquire a business, and for business expansion projects with flexible repayment options over a five-year term. 

11. Women Entrepreneurs Saskatchewan (WESK)

Women Entrepreneurs Saskatchewan (WESK) is a non-profit, membership-based organization that offers loans up to $150,000 for women-owned businesses in Saskatchewan. Its goal is to help women in Saskatchewan start, grow, and scale their businesses. Additionally, WESK provides women entrepreneurs with business advisory services, training, and networking opportunities and is affiliated with the Women’s Enterprise Organizations of Canada.

12. Women of Influence+

Offered collectively by RBC and Women of Influence+, this program offers grants ranging from $5,000 to $10,000. It aims to celebrate the achievements of women entrepreneurs and provide them with the recognition and financial support they need to continue building successful businesses.

13. Global Fund for Women

The Global Fund for Women is not exclusively for Canadian women entrepreneurs. It does, however, offer women living outside the U.S. the opportunity to apply for and secure a grant ranging between $5,000 to $13,000, provided your company’s or startup’s mission is to support women’s rights and economic and political equality. There is no deadline to apply.

14. Canada Digital Adoption Program (CDAP)

The Canada Digital Adoption Program is a federal government initiative to help small businesses take advantage of e-commerce opportunities. It’s not exclusive to women, but eligible companies can receive a micro-grant of up to $2,400 to help with the costs related to adopting digital technologies.

15. Starter Plus Program

The provincial government offers grants of up to $5,000 to Ontario’s entrepreneurs and small business owners through its Starter Company Plus program. The program is open to any Canadian citizen 18 or older who wants to start a new company, expand an existing company, or buy a business in Ontario.

Other Business Financing and Resources for Canadian Women

Here are four different options to explore as you seek financial support for your startup:

• Startup Women

Startup Women offers support to early-stage women entrepreneurs across Canada. It doesn’t matter what industry you’re in, and there’s no fees involved. Although the program does not offer funding or grants, it does offer a wealth of resources, connections with established women business leaders and mentors, and tools to help you find the financing your emerging company needs.

• Alberta Women Entrepreneurs (AWE)

The AWE does not provide grants but offers loans for women-led small businesses in that province. It has several lending programs and a business advisory team to help entrepreneurs enhance and grow their businesses.

• IFundWomen Grants

IFundWomen Grants provides grants to women entrepreneurs. The organization has partnered with various corporations, including Visa, Caress, Johnnie Walker, BOTOX Cosmetic, and COMCAST, to facilitate funding initiatives. You can submit a ‘universal grant application‘ to IFundWomen Grants, and the organization will contact you about grants you qualify for when they become available.

• Canadian Women’s Foundation

The Canadian Women’s Foundation (CWF) provides programs and funds for women, Two Spirit, trans, and non-binary individuals on low incomes to start a business or learn a skilled trade.

• Futurpreneur

Futurpreneur offers financing, mentoring, and support for aspiring business owners aged 18 to 39 who want to start, buy, and grow a business. It’s not exclusive to women, but this national non-profit organization provides young entrepreneurs with the loan financing, mentorship, and resources they need.

• Government of Canada

The federal government provides a searchable database of business grants and financing, whether national, provincial, or territorial. There are government-led financing programs, loans and capital investments, information on tax credits to reduce your business costs, and details on grants to help launch or grow a business.

Why Business Insurance Matters for Your Startup

You already know how challenging it is to start and grow a business. Countless things crop up unexpectedly that you must tackle. Likewise, accidents, the risk of lawsuits, and unexpected events that cause damage or loss to your business can arise without warning. A small business insurance policy can be a lifesaver at such times.

Get the protection you need quickly by submitting an online application for a free insurance quote with Zensurance. Let us worry about getting the customized policy you need at the lowest price on the market so you can concentrate on your business.

Also, know that business insurance policies for sole proprietors are tax deductible, so protecting your startup or small business is more affordable than you think.

– Updated September 23, 2024.