May 29, 2024

Black Entrepreneur History

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Prime Minister Trudeau Launching $221 Million Program For Black Entrepreneurs

Prime Minister Trudeau aims to assist Black Canadians get business loans for their entrepreneurial endeavors by offering up $221 million over the next four years in the new Black Entrepreneur Program.

The breakdown of where the money will come from is like this:

$93 million from federal government
$128 million from Canadian financial institutions

Of that, according to Global News, $53 million is for Black business organizations to assist Black entrepreneurs gain funding along with business and financial planning and training while $6.5 million will track Black businesses in order to understand what are the potential barriers hindering them and Black Canadians from success.

Of course, all of these measures will boost recovery during COVID-19.