The Black Community Entrepreneurship Loan Fund, one of the three components of the Black Community Entrepreneurship Program, will be available from May.
The fund, which was announced in September, will be administered by the Canadian African Economic Association.
We wanted the black community to lead all of these programs and that is why we took the time to accept the proposals, to see the interest of the black community in the country before continuing.
Rachel Bendian, MP for Outremont and Parliamentary Secretary for Small Business Minister, Mary Ng.
Since the announcement, the Secretary of the House of Representatives revealed that the government had secured investments of about $ 130 million from various banks. This will be on top of the $ 33.3 million announced in September.
The Canadian African Economic Union will be responsible for determining eligibility criteria for loans. According to some black entrepreneurs, such as Torontonian Karima-Catherine Goundiam, it is necessary to have a definition of a business being run by a black person.
What is being black? Is someone who is half black and half black Arab? This definition must be clear or there must be a framework in place to define a company that Black is managing
Solin Karima Catherine Gundiam.