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Direct Link To This Post Topic: Funding Newcomer Entrepreneurs
    Posted: Mar/18/2011 at 7:28am

Entrepreneurial mentoring

BDC and CYBF team up to help young newcomers become entrepreneurs

A new mentoring program will help young, recent immigrants become successful entrepreneurs.

The Business Development Bank of Canada and the Canadian Youth Business Foundation teamed up to create the CYBF Newcomer Entrepreneur program that assists new Canadians start up their own businesses.

The program offers flexible financing to new immigrants since they do not have a Canadian credit history.

Permanent Canadian residents between the age of 18 and 34 can apply for up to $15,000 in financing.
There are also mentoring and business resources available.

Candidates must have lived in Canada for less than 36 months and have a working knowledge of English or French.

“Recently arrived immigrants to Canada are among the country's most dynamic and entrepreneurial group of individuals,” said Edmée Métivier, BDC executive vice president, financing and consulting, who also sits on the CYBF Board of Directors, in a press release. “Newcomers have an acute desire to succeed."

“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,” said Vivian Prokop, CEO of CYBF.

For more information, visit the CYBF Newcomer Entrepreneur program website.

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