Entrepreneurs applying to a new federal loan fund aimed at addressing anti-Black racism are concerned about unclear repayment terms, difficulties using the online application portal and challenges getting in touch with the administering organization. (CBC)
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Entrepreneurs applying to a new federal loan fund aimed at addressing anti-Black racism are concerned about unclear repayment terms, difficulties using the online application portal and challenges getting in touch with the administering organization. (CBC)
Talking point: The fund opened to applications at the end of May, after the Trudeau government announced it in September 2020. The federal government is contributing $33.3 million, with additional funding from a group of Canadian financial institutions and the Business Development Bank of Canada, bringing the total amount to $291.3 million. In February, Small Business Minister Mary Ng told The Logic the federal government was taking its time opening up the fund to ensure the Black community was sufficiently consulted and involved. News of these concerns reveals some Black entrepreneurs feel the government could have done a better job on that front.
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