Purppl and Thrive Impact Fund invite you to engage with this question at Social Enterprise Conversations in Kelowna on February 27 and Kamloops on March 4. These panel discussions explore how nonprofits can leverage social finance tools like debt financing, loans, and community bonds to scale their impact and sustainability. Join us for insightful conversations with sector leaders, including Lindsay Harris of Propolis Housing Cooperative, and learn how to challenge your board’s assumptions about growth and financing.

Tickets: $10 (includes light refreshments).

Space is limited so register early to secure your spot.

Cohosted by Purppl and Thrive Impact Fund.

The post Social Enterprise Conversations | Kamloops appeared first on WeBC.

Purppl and Thrive Impact Fund invite you to engage with this question at Social Enterprise Conversations in Kelowna on February 27 and Kamloops on March 4. These panel discussions explore how nonprofits can leverage social finance tools like debt financing, loans, and community bonds to scale their impact and sustainability. Join us for insightful conversations with sector leaders, including Lindsay Harris of Propolis Housing Cooperative, and learn how to challenge your board’s assumptions about growth and financing.

Tickets: $10 (includes light refreshments).

Space is limited so register early to secure your spot.

Cohosted by Purppl and Thrive Impact Fund.

The post Social Enterprise Conversations | Kelowna appeared first on WeBC.

Aboriginal Entrepreneurship Program: Access to Capital

The Aboriginal Entrepreneurship Program (AEP) provides access to capital and business opportunities to Indigenous entrepreneurs and business owners in Canada. The AEP stream provides annual, ongoing funding to Indigenous entrepreneurs through the network of Indigenous Financial Institutions (IFIs) and Métis Capital Corporations (MCCs).

Aboriginal Financial Institutions (AFIs)

AFI’s are specialized lenders that provide financial services to Indigenous entrepreneurs. In British Columbia, AFI’s include:

• All Nations Trust Company (ANTCO): Offers various financial services and programs to support Indigenous business development, including micro-loan programs and resources for Indigenous women entrepreneurs.
• Nuu-chah-nulth Economic Development Corporation (NEDC): NEDC provides accessible loans, flexible financing and business advisory support to First Nations. NEDC serves a diverse list of clients across several industries from first time business owners to Nation-owned enterprises.
• Tale’awtxw Aboriginal Capital Corporation (TACC): TACC delivers financing and funding programs to Aboriginal entrepreneurs in the Coast Salish territory. 
• Tribal Resources Investment Corporation (TRICORP): TRICORP’s provides financing for business activities which increase the number of permanent jobs, reduces unemployment and facilitates business ownership among First Nations people.

These institutions are part of the National Aboriginal Capital Corporations Association (NACCA) network, which has provided over $3.2 billion to support economic development across Canada. 

First Citizens Fund Business Loan Program

Th First Citizens Fund program provides business loans to Indigenous entrepreneurs in British Columbia. Delivered by All Nations Trust Company (ANTCO) in partnership with four Aboriginal Capital Corporations, it supports the creation and expansion of Indigenous-owned businesses. 

Haida Gwaii Community Futures Loan Program

Haida Gwaii Community Futures offers a range of business loans from $500 to over $2 million to support new startups, expansions, social enterprises, and community-owned businesses on Haida Gwaii. They provide tailored financing solutions for all islanders, including youth, First Nations, and entrepreneurs with disabilities.

New Relationship Trust – Equity Matching Initiatives

The Entrepreneur Equity Matching Initiative (EEMI) supports new or expanding First Nation businesses and communities in BC by providing matching equity through BC Aboriginal Financial Institutions. 

Questions?

If you have further questions about your small business financing options, call us at 1.800.643.7014 ext. 112 or send us a note and our Client Services Coordinator will be in touch.

Disclaimer: The funding sources listed on this page are provided for informational purposes only. WeBC does not administer these programs and cannot guarantee eligibility, funding availability, or program intake dates. Each program has its own criteria, deadlines, and application process. Please refer to the official websites for the most up-to-date information and to confirm your eligibility. Additional funding opportunities may also be available beyond what is listed here.

The post Funding Programs for Indigenous Entrepreneurs appeared first on WeBC.

You’ve probably heard about grants for start-ups, but the truth is they are very rare. Not only is the pool of funding small, but the application process and reporting requirements can take a lot of your time – time that could be better spent building your business.

If you’re looking into grants, here’s an important tip: you should never pay for grant information. Before spending any money, double-check with the Better Business Bureau to make sure the service is legitimate.

At WeBC, we don’t offer grants, but we do provide small business loans to help you grow. We lend based on the viability of your plan and the strength of your vision, so you may qualify with us even if you haven’t with other lenders.

IMPORTANT NOTE – WeBC is NOT connected to the Small Business Finance Centre or The Centre.

Grants and Funding Sources for BC Businesses

There are funding sources and grants for specific purposes, for which you may be eligible. The websites below contain more information on some available sources.

To help navigate through various programs, we recommend visiting the Business Benefits Finder (Government of Canada) and Work BC Loans and Grants (Province of BC), in addition to the list below.

Click on each topic to view the list of programs.

Questions?

If you have further questions about your small business financing options, call us at 1.800.643.7014 ext. 112 or send us a note and our Client Services Coordinator will be in touch.

Disclaimer: The funding sources and grants listed on this page are provided for informational purposes only. WeBC does not administer these programs and cannot guarantee eligibility, funding availability, or program intake dates. Each program has its own criteria, deadlines, and application process. Please refer to the official websites for the most up-to-date information and to confirm your eligibility. Additional funding opportunities may also be available beyond what is listed here.

The post Grants and Funding Programs for BC Businesses appeared first on WeBC.

Join WeBC and Purpose CPA on January 15 for an insightful session designed for entrepreneurs who are beyond their first three years of operation and are ready to level up their financial strategy.

Whether you’re managing expansion, optimizing cash flow, or navigating the world of financing and taxes, this session will help you stay on track for long-term success. We’ll explore the financial practices every growing business needs to thrive, including:

• Key strategies to scale your business effectively
• The financial metrics that matter most
• How to assess your business health through critical financial ratios
• How to access and manage larger financing options
• Best practices to reduce your tax burden and ensure compliance

Join us to ask your questions and learn practical tools and insights you can apply immediately to boost your business’ financial health!

Wednesday, January 15 | 10am to 11am PT | Free Virtual WeCafé 

Our WeCafés are always free and open to everyone!

Facilitator: TBD

Panelists: Chad Chang, Purpose CPA

Register Here >>>

The post Financial Survival for Entrepreneurs appeared first on WeBC.

Multi Brand Sampling Co. specializes in organizing collaborative sampling initiatives, where multiple brands are featured on the demo table in grocery stores and other venues. Their innovative approach allows brands to reach a wider audience and maximize exposure by doing more demos.

Madi first learned about WeBC while looking for financial backing to grow her business. As a young entrepreneur navigating business ownership, she was drawn to WeBC’s commitment to empowering start-ups and women-owned businesses. She was also interested in the opportunity to receive guidance from their experienced mentors and to connect with like-minded entrepreneurs.

Madi decided to take the next step and applied to WeBC’s Business Loan program. Her goal was to use the financial support to invest in essentials that would facilitate smoother operations and build capacity, from supplies for demo kits to administrative necessities.

Thanks to funding from WeBC, Madi was able to purchase additional equipment, which was crucial in enhancing her business growth and positioning her for success.

WeBC’s continuous support proved instrumental beyond the financial aid, and Madi says the community aspect of the program has been crucial for her business growth, fostering new connections, resources, and collaboration with fellow entrepreneurs.

Client Q&A

Q: What made you want to start a business?

Growing up, my mom had her own company as a food producer. So, from a young age, I was a brand ambassador and helped her with farmers markets, demos and trade shows.

During the pandemic, I became a TikTok influencer making vegan cake decorating videos. I started doing it because it was a niche that I didn’t see anybody tapping into. I grew my account and started doing brand deals.

At the same time, my mom was looking for innovative ways to promote her brand because smaller, local brands rely heavily on sampling for sales, feedback and much more. She started organizing passive sampling demos featuring a few other brands alongside her own, in the style of take-home sample bags to comply with COVID restrictions.

She was having fun with it, but also the brands she included in this pilot project were seeing a change in their sales. I thought it was a great idea and we ran with it from there.

Q: How is Multi Brand Sampling Co. different from other sampling companies?

When we first started, it was a regular sampling company, doing grocery store demos. But we realized we needed to do more to get our clients’ products into the consumers’ hands. So now, we do pop-up events, sampling in fitness studios, trade shows, and more. It’s a positive experience for the stores, the clients, and the customers because they can sample a few brands in one spot and they feel comfortable visiting our tables as we make the experience welcoming and fun.

We also have over 35 brand ambassadors who conduct the demos in Vancouver, Kelowna, the Okanagan, and Vancouver Island. It’s a great side gig because the ambassadors can use our company app to sign up for as many demos as they want. We have students, single mothers, and people looking for extra income doing sampling events with our partners.

Q: How did your WeBC loan impact your business?

We used the funding for so many things. We started with our demo kits because we didn’t have enough supplies. So we bought anything sampling-related you can think of air fryers, skillets, rice cookers, blenders, tables, sample cups, and backup supplies in case anything breaks. We also used the loan to buy shelves and other equipment to help us organize all the demo supplies. It’s been a huge help having extra supplies as we expand the business.

Q: What has your experience been like working with WeBC?

It’s been amazing. We love that WeBC is a women-run organization and it aligned with what we needed. Their advisors have been a constant support and they’ve made me feel like I’m not alone. They’re very responsive and somebody is always there to help.

The best part is you get a mentor when you apply to the loan program, and I’m looking forward to starting with a mentor. In the meantime, I’ve been using WeBC’s free resources and online courses. It’s been a really positive experience.

Where to find Multi Brand Sampling Co.

Website

Instagram

The post Madi Chilcott, Multi Brand Sampling Co., Surrey appeared first on WeBC.

EQUITY

Equity can be a confusing word because it means different things to different people. 

Lenders want to see that business owners are contributing and investing in their own company, therefore, every lender looks for the business owner to be investing some of their own money into the business. At WeBC we call this your equity contribution, but other lenders might call it an owner investment, or capital contribution, among other terms.

Equity could be cash that you’re investing in your business now, or it could be cash that you’ve invested in the business some time ago, for example, when you purchased business equipment or supplies. It could also be cash that someone has gifted to you. If you are an existing business, equity can also include profits that you’ve made in past years that you retained in the company (Retained Earnings).

Having equity is important to business viability. Starting a business that is 100% debt financed is VERY RISKY and makes it very difficult to secure a business loan.

At WeBC, the guideline for our business loans is that your equity contribution must equal 25% of total debt of the business. 

For example, let’s say you want to start a shoe store and it’s going to take $100,000 to get started.  We would look for you to contribute $25,000 (25%) of your own money and borrow the remaining $75,000 (75%).

Equity calculations can get quite complicated, especially if you are an existing business. If that’s your situation, we will ask to look at your balance sheet (if you have one), as this is where your equity will be recorded.

There are some limited situations where we may consider less than 25% equity. If you meet all of our other requirements but are a little low on the equity requirement, you should give our client services a call and ask to speak with a Business Advisor so we can talk about your specific situation.

SECURITY (aka Collateral)

People often confuse Equity and Security, but they are different things. As we just learned, Equity is how much money you have (or will) contribute to the business, and Security refers to assets that are pledged to the loan just in case something goes wrong and you aren’t able to repay the debt.

In general, lenders look for some security or collateral to support the loan.  In the context of financing, security and collateral mean about the same thing. For example, if you have a vehicle loan, the lender uses the vehicle as collateral and if you don’t pay the loan, the lender can collect that vehicle and resell it.  That is, of course, in a worst-case scenario.

So, collateral is things or assets that you pledge to the lender.  If something unfortunate or bad happens in the business, and you can’t repay the loan then the lender can go and get those assets and resell them and apply the proceeds to the loan balance. Business assets such as equipment, or personal assets such as vehicles, boats, houses and cash, would all count as collateral.

Some lenders look for 100% collateral or security. As a developmental lender, WeBC offers both secured and unsecured loans, although we always encourage you to pledge security if you have it available, as it can get you a lower interest rate and improve your changes of getting approved.

For our secured loan program (for any loans over $50,000), we require the borrower to pledge assets worth at least 30% of the loan value. 

For our unsecured lending program, also known as the Equal Access to Capital Lending Program, we can provide loans up to $50,000 without any security or collateral. To qualify for this program we look at the following:

• You must have a strong business plan
• You must have a credit score of 650 or higher
• You must be applying for $50,000 or less.

We take a holistic approach to lending and provide ongoing support throughout the duration of the loan. If you’d like to learn more about equity and security, as well as our business loans for women, connect with us in one of our free Business Loan Info Sessions.

The post Explained: Equity and Security appeared first on WeBC.

WeBC has a Business Loan Program, and we are the BC Loan Fund Partner of the WEOC National Loan Program for women and non-binary entrepreneurs.

If you would like to access these programs to start, expand or purchase a business you will need to participate in one of our free phone-in info sessions about the loan programs.

During this session, the facilitator will:

1. Review our lending criteria for each program
2. Answer your questions
3. Advise you on how to apply
4. Provide you with a resource package

An Advisor will work with you to determine if you are eligible for a loan.

This spring, these FREE phone-in sessions are held every Tuesday from 12pm to 1pm PT.

Register free >>>

The post Free WeBC Business Loan Info Session appeared first on WeBC.

WeBC has a Business Loan Program, and we are the BC Loan Fund Partner of the WEOC National Loan Program for women and non-binary entrepreneurs.

If you would like to access these programs to start, expand or purchase a business you will need to participate in one of our free phone-in info sessions about the loan programs.

During this session, the facilitator will:

1. Review our lending criteria for each program
2. Answer your questions
3. Advise you on how to apply
4. Provide you with a resource package

An Advisor will work with you to determine if you are eligible for a loan.

This spring, these FREE phone-in sessions are held every Tuesday from 12pm to 1pm PT.

Register free >>>

The post Free WeBC Business Loan Info Session appeared first on WeBC.

WeBC has a Business Loan Program, and we are the BC Loan Fund Partner of the WEOC National Loan Program for women and non-binary entrepreneurs.

If you would like to access these programs to start, expand or purchase a business you will need to participate in one of our free phone-in info sessions about the loan programs.

During this session, the facilitator will:

1. Review our lending criteria for each program
2. Answer your questions
3. Advise you on how to apply
4. Provide you with a resource package

An Advisor will work with you to determine if you are eligible for a loan.

This spring, these FREE phone-in sessions are held every Tuesday from 12pm to 1pm PT.

Register free >>>

The post Free WeBC Business Loan Info Session appeared first on WeBC.

WeBC has a Business Loan Program, and we are the BC Loan Fund Partner of the WEOC National Loan Program for women and non-binary entrepreneurs.

If you would like to access these programs to start, expand or purchase a business you will need to participate in one of our free phone-in info sessions about the loan programs.

During this session, the facilitator will:

1. Review our lending criteria for each program
2. Answer your questions
3. Advise you on how to apply
4. Provide you with a resource package

An Advisor will work with you to determine if you are eligible for a loan.

This spring, these FREE phone-in sessions are held every Tuesday from 12pm to 1pm PT.

Register free >>>

The post Free WeBC Business Loan Info Session appeared first on WeBC.

WeBC has a Business Loan Program, and we are the BC Loan Fund Partner of the WEOC National Loan Program for women and non-binary entrepreneurs.

If you would like to access these programs to start, expand or purchase a business you will need to participate in one of our free phone-in info sessions about the loan programs.

During this session, the facilitator will:

1. Review our lending criteria for each program
2. Answer your questions
3. Advise you on how to apply
4. Provide you with a resource package

An Advisor will work with you to determine if you are eligible for a loan.

This spring, these FREE phone-in sessions are held every Tuesday from 12pm to 1pm PT.

Register free >>>

The post Free WeBC Business Loan Info Session appeared first on WeBC.