Core Startup Program
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.
Ready to learn more?
Jannine Rane
Zing | Toronto, ON
Our offering
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.
Meet a Futurpreneur
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 hereYou 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.
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?
Sign up here to get connected with a dedicated team member to learn more about Futurpreneur’s loan with mentorship and resources.
Alternatively, if your complete business plan and 24 month cash flow are ready for submission to Futurpreneur, click here to get started!
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FAQ
Can’t find the answers you’re looking for?
See our full FAQs.
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.
Financing terms & fees
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.
