Small business loans for women entrepreneurs

Loan details.

	Startup For new businesses	Growth For businesses that have generated revenue for at least 12 months
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.

Eligibility.

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:

At least one business owner is enrolled in or recently graduated from a self-employment or pre-entrepreneurial training program
Your business plan has been reviewed by a coach, mentor or a third-party business advisor like Small Business BC
You have one or two years of sales history

Let’s get to know your business.

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.

1

Start with a plan.

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.

2

Tell us about your business.

Fill out our application form so we can get to know key details about your business.

3

Meet with us.

We’ll book an appointment with you to talk through the details, answer your questions and gather any additional information we may need.

Featured member: Tayybeh

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.

Meet other members making change

Startup loans

For women entrepreneurs.

Why our startup loans stand out.

Inclusive approval

Advice and support

Financial flexibility

Loan details.

Get inspired.

Eligibility.

Let’s get to know your business.

Start with a plan.

Tell us about your business.

Meet with us.

Questions?

Find a business account manager

Schedule a call

Tools to build your business.

Business credit cards with reward points.

One-stop-shop for business solutions.

Business banking that comes to you.

Point-of-sale and payment technology.

Deposit drop boxes, accessible 24/7.

Featured member: Tayybeh