Borrow
Up to $100,000
Best part
Get funding, plus networking opportunities and advice from experienced mentors.
Women, and anyone who identifies as a woman or non-binary individual can qualify as a startup based on their credit score.
Get ongoing support to develop your skills, manage risk and plan for the future through WeBC’s resource library, business advisors, peer mentorship and a supportive community.
Borrow funds as a term loan or line of credit — whatever is best for you — with no application fee or monthly operating fee.
Startup For new businesses |
Growth For businesses that have generated revenue for at least 12 months |
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Loan size | Up to $20,000 | Up to $100,000¹ |
Loan type | Line of credit | Term loan |
Interest charged | Vancity Prime± plus 3%³ | Vancity Prime± plus 1.5%⁴ |
Repayment period | 5 years | 5 years |
A term loan is repaid over a specific period of time by making payments on both the principal and interest. A line of credit (also known as an operating loan) requires the loan-holder to repay only the interest on the outstanding loan balance each month. A line of credit is limited to a maximum of 25% of the total approved amount. Administrative fees are waived under the startup loan program for all term loans and for the first year on your line of credit.
How will you use your startup loan? Here are a few ideas to get you started:
You plan to operate the business in Metro Vancouver, the Fraser Valley Regional District, Greater Victoria, or the Sea-to-Sky Corridor
You or another individual agree to sign a personal guarantee. Your guarantor must be a Canadian citizen or Permanent Resident.
You meet one of the following criteria:
We want your business to be successful and have a positive impact on our community. If this loan sounds right for you, we’ll work with you to understand your business potential and explore financial solutions to meet your needs.
A business plan helps us understand your goals and how you’ll achieve them. To get started, read our Start Smart guide. You’ll also need to prepare other documents in our checklist.
Fill out our application form so we can get to know key details about your business.
We’ll book an appointment with you to talk through the details, answer your questions and gather any additional information we may need.
Browse by location, language, and other details— and pick your preferred account manager.
Browse our directoryLet us do the introductions. Choose a time that works for you, and a Microloan team member will call you to answer your questions.
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Vancity is committed to supporting newcomers to Canada by offering the financial tools they need to thrive. Tayybeh, a women-led catering and food processing company began as an initiative to support Syrian women who had been uprooted from their home country to begin new lives in Canada. After a few months of hosting pop up dinners across the Lower Mainland, Tayybeh officially launched as a social enterprise to provide steady employment for Syrian newcomer women and create opportunities for community building and social integration.
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¹ As per Vancity normal lending guidelines and qualification criteria.
² WeBC is a non-profit organization devoted to helping BC women start, lead and grow their own businesses. WeBC has fueled the success of women-led businesses since 1995, providing business loans up to $150K, business advice, skills training, mentoring, practical resources and a supportive community to help women business owners gain the skills, mindset, financing and networks they need to realize their business potential.
³ The Annual Percentage Rate (APR) is based on the loan requiring a monthly interest payment based on the outstanding balance where the APR is set at Vancity Prime +3% per annum. APR assumes no fees apply.
⁴ The Annual Percentage Rate (APR) is based on the loan being interest free for the first 6 months: 0% per annum and after 6 months, the APR is set at Vancity Prime + 1.5% per annum. The APR is based on a $5,000 loan with monthly payments starting after 6 months and paid through a 5 year term. APR assumes no fees apply.
± The Vancity Prime rate represents a variable rate of interest announced by Vancity from time to time as its Prime Lending Rate. Rate subject to change without notice.