If you are a Black entrepreneur in Quebec who needs growth capital, the Afro-Entrepreneurs Fund may be a good fit. The fund offers $50,000 to $500,000 in repayable financing for businesses with real growth potential. Filaction delivers the program and looks for companies that are ready to grow revenue and operations, not just early ideas or side projects.
The Afro-Entrepreneurs Fund is a Quebec financing program created to help members of Quebec’s Black communities. It supports businesses that already operate legally and can show growth, strong management, and a clear business model.
Key facts:
This fund is not for startups with no revenue. It is meant for active businesses that want to scale.
The Afro-Entrepreneurs Fund is designed for Black entrepreneurs in Quebec who have experience and a track record. You should apply if:
Social economy organizations, including cooperatives and non-profits with revenue-generating activities, are eligible.
The fund offers more than just money. Some key benefits include:
Filaction also looks at your growth plan and management experience, not just your assets or collateral.
The Afro-Entrepreneurs Fund provides:
The amount you receive depends on:
Filaction considers risk and growth potential. They do not rely only on collateral.
The application process is more detailed than many basic grants. You will need to share real business information.
Prepare:
Your projections should show how the financing will help increase revenue, capacity, or market reach.
Submit your application directly to Filaction through the Afro-Entrepreneurs Fund portal. There is no fixed intake deadline, but funding availability can change.
Filaction may:
Approval timelines depend on the quality of your application and current demand.
If you want to check your eligibility for this fund or other Quebec programs, try GrantHub’s eligibility matcher for quick results.
Applying too early
If your business has no revenue or little operating history, your application will likely be rejected.
Confusing this with a grant
This is a loan. You must show you can repay, even though the program is impact-focused.
Weak growth plan
Filaction expects a clear explanation of how the funds will help your business grow.
Incomplete financials
Missing or unclear financial statements can delay reviews and reduce your chance of approval.
Q: Is the Afro-Entrepreneurs Fund a grant or a loan?
It is a repayable loan. Repayment terms depend on Filaction’s conditions.
Q: How much funding can I receive?
Eligible businesses can receive between $50,000 and $500,000, based on business strength and growth plans.
Q: Are non-profits or cooperatives eligible?
Yes. Social economy businesses, including non-profits and cooperatives, may qualify if they carry on lawful business activities.
Q: What does Filaction consider a “growing” business?
This means your business has increasing revenues, experienced management, and clear signs of growth potential.
Q: Is there a deadline to apply?
The fund is open now, but availability may change depending on funding cycles.
If your Quebec-based business is ready to scale, the Afro-Entrepreneurs Fund may be a solid option for growth financing. Make sure your financial documents are clear and your growth plan is strong. GrantHub lists hundreds of active grant and loan programs across Canada. Check which ones match your business profile so you can compare options before applying.
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