Need financing to expand your existing business?

Loans designed to help you grow in the right direction!

Our unique financing program combines loans up to $150,000 with growth plan assessments and ongoing business advice. This approach is designed to build your understanding and capacity to operate and grow a successful business. We offer:

• Business loans up to $150,000 for BC women
• Loans for expansion functions such as leaseholds, marketing, equipment, inventory and more
• Flexible repayment options and terms up to 5 years
• Lower fees than many other lenders
• Competitive interest rates
  

You may qualify with us if you don't with other lenders

For basic eligibility, you must be:

• A woman who owns and controls at least 51% of a business that is registered and located in British Columbia
• A Canadian citizen or Permanent Resident
• Residing in British Columbia
• In good standing with Women's Enterprise Centre on any existing financing

You will need to have...

1. A strong and workable business idea and a comprehensive expansion plan. We can guide you in putting one together, along with the financial projections you will need.

This includes:

• Market research confirming demand for your product/service projected growth
• A monthly cash flow forecast for 2 years of operation following the expansion
• At least two full years of up to date income sheet or profit and loss and balance sheet
• Aged Accounts Payable and Accounts Receivable schedules

2. Management knowledge and experience

You will need to demonstrate the skills to successfully operate and manage business growth.

In addition to knowledge about the operational aspects of your business and industry, you will also need to have knowledge of financial management, marketing, and sales.

Women's Enterprise Centre offers handy, affordable courses to help you get up to speed in those areas.

3. Minimum cash/equity contribution of 25% of total debt

Businesses have a greater probability of success when the owner makes a financial contribution.

When you apply for a loan, you will need to show you have made personal equity investment in your business.

Equity can be in the form of positive shareholder equity, and new cash and other assets that will be used in the business.

4. Minimum security of 30% of the loan amount requested

Women’s Enterprise Centre secures its loans to the fullest extent possible given the applicable venture risk, however, a minimum threshold of 30% of the amount requested is a necessity. If your business is in a high risk industry we will require additional security.

Assets used to secure a loan can include cash or highly stable non-RRSP investments, and business or personal assets such as equipment, vehicles (depending on age and condition), or property.

A qualified guarantor can help in situations where security is limited.

5. A Good Credit History

Women's Enterprise Centre will look at your business and personal credit history and weigh it against the strength of your expansion plan.

While your credit history need not be stellar, we cannot consider you for a loan if you have an outstanding bankruptcy or judgment.

Note: It is a good idea for you find out where you stand with your credit rating before you apply. Our loans department gave give you the details on how you can do that.

Ineligible Projects:

If a project falls into one of the categories below, it is not eligible for Women's Enterprise Centre financing:

• Projects in the pre-start-up phase for which seed or early-stage capital is required
• Any business in which the owner does not have operational control over important aspects of the business (this may include some franchises)
• Any business for which the majority of gross revenues do not come from direct sales of the business's products or services (i.e. Multi-tiered marketing projects)
• Any projects that support businesses that do not operate on a for-profit basis
• Any investment that can be considered speculative
• Refinancing of existing debt from another lender
• Loans greater than $150,000
• Loans for which the secondary financing necessary to complete the project, is not confirmed

Attend our tele-based loans info sessions!

Learn more about our loans program using a toll-free number available to all women entrepreneurs in BC. Once you have participated in our loans session, we can send you an application.