BDC enhances partnership with Canadian Youth Business Foundation

March 17, 2011

CYBF Newcomer  Entrepreneur Program helps recent immigrants to Canada become successful business owners

Montreal, March 17, 2011 – Business Development  Bank of Canada (BDC) and the Canadian Youth Business Foundation (CYBF) are  pleased to announce an enhanced partnership that will help young, newly arrived  immigrants to Canada become successful entrepreneurs.

The  CYBF Newcomer Entrepreneur Program recognizes that recent immigrants may  require targeted support to start their own businesses. In addition to offering  flexible financing, the program is designed to overcome the difficulty many  young, newly arrived immigrants have in accessing credit because they do not  have a Canadian credit history. The program also offers mentoring and business  resources so newcomers can learn about operating a business in Canada and  improve their chances of success. For details, please visit:

“Recently  arrived immigrants to Canada are among the country’s most dynamic and  entrepreneurial group of individuals,” says Edmée Métivier, BDC Executive Vice  President, Financing and Consulting, who also sits on the CYBF Board of  Directors. “Newcomers have an acute desire to succeed and anything BDC and CYFB  can do to help them start and, subsequently, operate a business is certainly  worth encouraging. Entrepreneurs play a key role in ensuring Canada’s long term  prosperity.”

“During  the Year of the Entrepreneur, in a country deeply entrenched in the principles  of multiculturalism, it’s only fitting that we partner with BDC to offer this unique  opportunity to young new Canadians,” says Vivian Prokop, Chief Executive  Officer, CYBF. “Our unique program directly addresses the challenges faced by  newcomers and provides the critical financial, mentoring and educational  support they need to succeed in the Canadian business landscape.”

Under  the BDC-CYBF partnership, permanent Canadian residents between the ages of 18  and 34 can apply for up to $15,000 in financing. The CYBF Newcomer Entrepreneur  Program provides residents who have lived in Canada for less than 36 months and  possess a solid working knowledge of English or French with the opportunity to  build sound, sustainable and profitable businesses with.

About BDC

Canada’s  business development bank, BDC puts entrepreneurs first. With almost 1,900  employees and more than 100 business centres across the country, BDC offers  financing, venture capital and consulting services to 29,000 small and  medium sized companies. Their success is vital to Canada’s economic prosperity.

About the Canadian Youth Business  Foundation
Canada’s Entrepreneur Gateway

The Canadian Youth Business Foundation  (CYBF) is the ‘go to’ place for youth entrepreneurship. As a national charity,  we are dedicated to growing our nation’s economy one young entrepreneur at a  time. We look at character not collateral, when providing youth, age 18-34,  with pre-launch coaching, business resources, start-up financing and mentoring,  to help them launch and sustain a successful entrepreneurial business.


For more information:

Geoffrey King
Director, Public Relations
Business Development Bank of Canada
(514) 496-4351

Rachel  Azagury
Senior  Manager, Media, Social Media and Events
Canadian  Youth Business Federation
416-408-2923,  ext. 2111