BDC Financing — Newcomer Entrepreneur Loan
Get up to $50,000 to grow your business even with little to no Canadian credit history. This is a repayable loan from BDC, so confirm interest rates and terms on the official page. Verified against the official source on July 2, 2026.
How we verify funding records →
“To be eligible for this loan, you must have immigrated to Canada less than three years ago and have permanent resident status as well as a viable business plan.”
Before you spend a dollar
Confirm on the official page whether funds are disbursed before or after project completion.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Not sure if you qualify?
Get a free, 2-minute read on whether this program fits your business. No obligation.
Check your fit →Is this for you?
- You immigrated to Canada less than three years ago.
- You hold permanent resident or protected person status.
- You have a solid business plan but need help building Canadian credit.
Probably not the right fit if
- You have lived in Canada for more than three years.
- You do not have permanent resident or protected person status.
- You do not have a viable business plan ready for review.
How much you'd realistically get
Up to $50,000
What may be supported
- Business growth initiatives for new immigrant-owned companies.
- Confirm specific eligible expenses on the official page.
How applying works
Effort: moderateYou must prepare a viable business plan and apply online through the BDC portal.
- 01Ensure you have immigrated to Canada less than three years ago and have permanent resident or protected person status.
- 02Prepare a viable business plan that outlines how you will grow your company.
- 03Visit the BDC online portal at the provided link.
- 04Submit your application online.
- 05Wait for BDC to review your application and business plan.
- 06Confirm repayment terms and disbursement timing if approved.
Documents commonly required
- Proof of permanent resident or protected person status.
- A viable business plan.
- Proof of immigration date (less than three years ago).
- Confirm other required documents on the official page.
How BBN Labs helps
- BBN builds your professional website and online store with the loan funds, giving your new Canadian business a credible digital storefront that wins trust from local customers.
- BBN sets up your Local SEO and Google Business Profile so nearby shoppers find you, turning your newcomer status into a competitive advantage in your neighborhood.
- BBN designs your brand identity and digital marketing assets to help you stand out, using the financing to attract more customers and grow your company quickly.
- BBN guides you through the application process and deadlines so you don't lose the funding.
What to know before you count on it
- This is a loan, not a grant, so you must repay the principal plus interest.
- Interest rates and fees are not published, so confirm on the official page.
- You must have a viable business plan to qualify.
- Approval is not guaranteed and depends on BDC's assessment of your plan and status.
What are your odds?
Approval depends on the strength of your business plan and your status as a new immigrant; there is no guarantee of funding.
Frequently asked questions
Is this money free?
No, this is a loan that must be repaid. Confirm interest rates and fees on the official page.
Do I need a strong credit history?
No, this program is specifically designed for new immigrants with little to no credit history.
How long have I been in Canada to qualify?
You must have immigrated to Canada less than three years ago.
What documents do I need?
You need proof of permanent resident or protected person status and a viable business plan. Confirm other requirements on the official page.
What you can combine it with
You may be eligible for other programs like Futurpreneur Canada, but confirm eligibility and stacking rules on the official pages.
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Record last updated July 3, 2026; last verified July 2, 2026 against the official source. Source: official program page.