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Immigrants & RefugeesLoanOpen
Government of Canada, Business Development Bank of Canada
BDC Financing — Newcomer Entrepreneur Loan
Amount
Varies
Deadline
Rolling
Odds
Not published
Effort
1 hour
Can you get this?
✓Immigrated to Canada less than three years ago
✓Must hold permanent or protected person status
✓Must have a viable business plan
✓No Canadian credit history required
Your real odds
Approval is not guaranteed and the loan goes through BDC's standard credit review, but the program is specifically built for newcomers with thin credit files.
BDC is Canada's national development bank with a mandate to serve underserved entrepreneurs, so rejection criteria are more flexible than a commercial bank's, though a credible business plan is essential.
What it takes
Confirm eligibility (arrived <3 years ago, PR or protected person status, viable plan)1 hour
Prepare a business plan1–2 weeks
Apply through BDC's online application1–2 hours
Worth knowing
BDC offers resources in Arabic, Punjabi, Simplified Chinese, Traditional Chinese, Tagalog, and Spanish, along with free e-learning on writing a business plan, and using both before you apply can strengthen your application.
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