Core Startup Program

Core Startup Program is sponsored by Futurpreneur Canada. Futurpreneur's Core Startup Program supports young Canadian entrepreneurs with accessible financing, mentorship, and tools to help them succeed. This program directly offers financial support and educational resources (mentorship) to small business owners.

Core startup program – Futurpreneur Futurpreneur is here to empower aspiring young entrepreneurs on their journey to success! Our Core Startup Program provides loan financing and up to two years of mentorship, with added access to tools and networking opportunities across Canada. From business plan to business success.

We offer you the tools to get your startup off the ground. If you’re 18 – 39 and ready to launch a business, we’re here to help you. A flexible, equity-free loan up to $75,000*, including financing from BDC, to start or buy a business.

Receive up to two years of 1:1 hand-matched mentorship. From our Rock My Business workshop series to our various business planning tools, gain access to the resources you need to start and succeed. Engage with a national network of entrepreneurs, leaders, and community organizations at a range of virtual and in-person entrepreneurial events.

The Futurpreneur loan […] I received when I first started Twenty One Toys, not only did it allow us to start our first production run of empathy toys, it gave me the confidence I needed to believe that even though I was a toy designer with no prior business experience, I was also allowed to be an entrepreneur. Futurpreneur provides financial support, but the team cares about me beyond my startup.

They invested and encouraged me to succeed, and for that I am very grateful. We looked at Futurpreneur’s system and asked ourselves…how we could continue to be involved with the organization? That’s when I thought about having all our franchisees go through the program.

It’s a really great resource, they get the mentorship that’s going to be local to them and it was kind of a no-brainer. Are you eligible for the Core Startup Program? We offer young entrepreneurs up to $75,000 in startup loan financing and up to two years of mentorship.

See full eligibility criteria here You must be a Canadian citizen or permanent resident aged 18 to 39 You must be between 18 and 39 years old when you submit your application. You must demonstrate some training or experience in your field You must be able to demonstrate that you have experience working in your industry and related to your business idea.

You cannot be a contractor or an agent To apply you cannot be an agent or contractor working for another already-existing business.

“You can kick a** with [some] help”: Five entrepreneurship lessons from Debbie Shing and Ashwini Bhaskar By Dan Zaiontz | October 27, 2023 From the Ground Up: Behind the Scenes of Knix and Mejuri’s Success By Futurpreneur | April 28, 2023 Become a community partner Does your organization help young entrepreneurs launch businesses?

Find out how we can partner with you to provide financing, mentoring and other resources to help them succeed. Call or email us today! Take a look at our other offerings Ready to start your entrepreneurial journey?

Alternatively, if your complete business plan and 24 month cash flow are ready for submission to Futurpreneur, click here to get started! " * " indicates required fields In addition to our core startup programs, we have tailored programs for Black and Indigenous entrepreneurs.

Please let us know if you would be eligible for these programs: I confirm that I am age 18-39 * Please note to be eligible for a Futurpreneur loan with mentorship you must submit your full application (including business plan and cash flow) before your 40th birthday.

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At what stage of my business planning can I apply to Futurpreneur? Futurpreneur offers free resources and tools to help entrepreneurs at every stage of business development. If you are in the idea or R&D phase of forming your company, our free tools and resources can help guide you through the process of developing your business plan , creating your cash flow , and more.

We’re here to help move your business forward! In order to apply to Futurpreneur’s Startup Program and secure financing, your company must be in the pre-startup or startup stage (i.e., beyond the Idea or R&D phase). • By pre-startup, Futurpreneur means the company is in the process of launching and will make its first sales ideally within the next few months .

• By startup, we mean existing companies that have had less than a year of significant sales, i.e., sufficient revenues for the applicant(s) to pay themselves. Can I access either Futurpreneur funding or mentoring separately? Working with a mentor is one of the requirements of our financing program, and you must receive our financing in order to be matched with a mentor.

We do not offer these options separately. I am over 39. Can I still qualify for Futurpreneur’s Startup Program?

Our startup program is aimed at entrepreneurs between the ages of 18 and 39 exclusively. If you are about to turn 40, you may be eligible for the program provided your full application is completed before your 40th birthday. If you are 40 years of age or older, unfortunately, you are not eligible for our program.

Futurpreneur repayment terms & fees Up to $25,000 with a term over five years. Interest is charged at CIBC’s prime rate + 3%. (Note that if CIBC’s prime rate exceeds 6%, the interest rate charged is capped at 9%.

If CIBC’s prime rate exceeds 9%, the interest rate charged will be charged at CIBC prime rate.) Interest-only payments for the first year. Principal repayments are made in equal monthly installments together with interest, over the remaining four years.

No penalty for early repayment. A one-time loan management fee of 1% of the total loan amount is charged at time of disbursement The above points reflect current Futurpreneur loan terms; the exact terms of each entrepreneur’s loan are clearly defined in their loan agreement. BDC repayment terms & fees Up to $50,000 with a term over five years.

Interest is charged at BDC’s current floating base rate + 1. 65%. Interest-only repayment in the first year, commencing from the BDC loan authorization date.

You may prepay all or any part of the outstanding principal, however, BDC must receive the interest owing to the time of repayment, together with an indemnity equal to three months’ interest on the principal prepaid. Once a year (non-cumulative), on the anniversary date of the loan authorization date, you may repay 15% of the principal outstanding without indemnity.

BDC charges a $50 processing fee, which is deducted from the initial loan disbursement. Please contact your local BDC office for the BDC Floating Base Rate. The technical storage or access that is used exclusively for statistical purposes.

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