Last summer RBC announced up to $100 million in business loans to Black entrepreneurs
Royal Bank of Canada has announced a new initiative to help Black entrepreneurs overcome barriers while starting and managing their businesses.
This funding collaboration with Futurpreneur is designed to create more inclusive and equitable financing opportunities for emerging, young Black entrepreneurs.
Accrding to information, the Black Entrepreneur Startup Program will support Black entrepreneurs age 18-39 in starting their business.
Over a 5-year period, RBC will provide up to $40 million in financing for Futurpreneur to offer small business loans, mentorship, and business resources to Black entrepreneurs for up to 2years.
Besides, the participants will have opportunities to engage with a national network of Black entrepreneurs and community organizations at a range of entrepreneurship events.
We’ve reported that Bank of Canada revealed three digital currency proposals.