Montreal, March 17, 2011<\/strong> \u2013 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.<\/p>\n\n\n\n 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: https:\/\/futurpreneur.ca\/entrepreneurs\/newcomer\/<\/a>.<\/p>\n\n\n\n \u201cRecently arrived immigrants to Canada are among the country\u2019s most dynamic and entrepreneurial group of individuals,\u201d says Edm\u00e9e M\u00e9tivier, BDC Executive Vice President, Financing and Consulting, who also sits on the CYBF Board of Directors. \u201cNewcomers 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\u2019s long term prosperity.\u201d<\/p>\n\n\n\n \u201cDuring the Year of the Entrepreneur, in a country deeply entrenched in the principles of multiculturalism, it\u2019s only fitting that we partner with BDC to offer this unique opportunity to young new Canadians,\u201d says Vivian Prokop, Chief Executive Officer, CYBF. \u201cOur 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.\u201d<\/p>\n\n\n\n Under the BDC-CYBF partnership, permanent Canadian residents between the ages of 18 and 34 can apply for up to $25,000 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.<\/p>\n\n\n\n About BDC<\/strong><\/p>\n\n\n\n Canada\u2019s 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\u2019s economic prosperity. www.bdc.ca<\/a><\/p>\n\n\n\n About the Canadian Youth Business Foundation –30–<\/p>\n\n\n\n For more information:<\/strong><\/p>\n\n\n\n Geoffrey King
\nCanada\u2019s Entrepreneur Gateway<\/em><\/strong>
\nThe Canadian Youth Business Foundation (CYBF) is the \u2018go to\u2019 place for youth entrepreneurship. As a national charity, we are dedicated to growing our nation\u2019s 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. www.cybf.ca<\/em><\/a><\/p>\n\n\n\n
\nDirector, Public Relations
\nBusiness Development Bank of Canada
\n(514) 496-4351
\ngeoffrey.king@bdc.ca<\/a><\/p>\n\n\n\n