Black Entrepreneur Program
As part of its mandate to provide funding and capacity building support for Canadian Black-led businesses, Black Opportunity Fund (BOF) has established the Black Entrepreneur Program to provide Canadian Black entrepreneurs with business education, financial literacy, skills training and support to help build their capacity and knowledge to operate successful, sustainable businesses.
- Black Entrepreneur Program
- Program Information
Program Information
Funding support
Through extensive research and consultation, BOF recognizes the significant pain points faced by Black entrepreneurs who attempt to pursue business education and capacity-building support programs, as they have to sacrifice valuable time and related revenue from operating their businesses, or from ancillary employment to pursue these courses. To help overcome these barriers that significantly impact Black entrepreneurship, BOF is pleased to be disbursing non repayable funds to entrepreneurs enrolled in the various CBCC programs administered through this initiative, throughout the duration of their enrolment.
Wrap-around Support Partner
Black Opportunity Fund is pleased to collaborate with the Canadian Black Chamber of Commerce (CBCC) on this unique and innovative program, that will provide appropriate high-level wrap-around support programs to clients. CBCC is a national non-profit organization, established to support black-owned businesses, entrepreneurship, economic development and commerce within Canada’s Black communities.
CIBC and the CIBC Foundation
We are grateful to the generous donation from CIBC and the CIBC Foundation in support of BOF, as well as CIBC’s ongoing commitment to supporting Black communities and Black entrepreneurs, which has made this transformative initiative possible.
For more information about CIBC’s Black Entrepreneur Program
Program Details:
- Wraparound services will be provided to Black entrepreneurs to help build their capacity as sustainable businesses, in areas such as:
- Financial literacy
- Creating a business plan
- Creating financial projections
- Improving credit score
Applicants can apply to the program and will be assessed and directed into appropriate CBCC program offerings based on need as identified during the client assessment process. Program offerings will be in the form of 90 days to 2 years in duration based on assessed need.
Program offerings options will include:
- Financial Literacy Program – 90 days
- AVRO Business Accelerator Program (with Business Plan Writing stream) – 90 days
- Propel Mastermind – 1 year
- Elevate Mentor Protégé Program – 2 years
- Female Founders in Stem Program – 90 days
- Clean Tech and Sustainability Program – 6 months
Upon completion of key program milestones, clients will receive payment from Black Opportunity Fund in the form of non-repayable funding to support their journey through as they build their business capacity.
Black Opportunity Fund (BOF), through generous funding support from the CIBC Foundation is currently offering reimbursement of up to $2,000 each calendar year to cover the fees incurred to obtain licenses, permits, and certifications that are essential for business continuation and growth.
About Canadian BlackChamber of Commerce(CBCC)
Empowering Black Businesses The Canadian Black Chamber Commerce Business Advisory will serve to elevate entrepreneurs through our Elevate Black Business Project through programming, mentorship, advocacy, promotion, and investment in their training and development.
The Black entrepreneurial community has long been disenfranchised by the effects of systemic racism. The Canadian Black Chamber of Commerce endeavours through this program and funded by the Government of Canada to “level the playing field” and provide Start-up and established Black entrepreneurs with the supports needed to help their businesses succeed. The effects of the Pandemic have further highlighted the great need for this service in the Black community.
“To mobilize the Black Community and narrow the wealth gap, access to capital and solid fiscal relationships are imperative to the prosperity and sustainability of Black Entrepreneurship.”
- Michelle Meghie
- President
- Canadian Black Chamber of Commerce
- Canadian BlackChamber of Commerce(CBCC)
About Canadian Imperial Bankof Commerce(CIBC)
CIBC is a leading Canadian financial institution committed to supporting inclusive economic growth. Through its partnership with the Black Opportunity Fund (BOF), CIBC helps expand access to capital and financial resources for Black entrepreneurs across Canada, supporting initiatives such as the Black Business Loan Program to strengthen and grow Black-owned businesses.
“At CIBC, our purpose is to help make your ambition a reality. We are proud to support initiatives like the Black Entrepreneur Program that champion entrepreneurship, create equitable access to opportunity, and empower individuals and communities to achieve their goals through inclusive financial support, mentorship, and resources.”
- Chancie Romain
- Senior Manager, Diversified Segments | National Industry Programs
- CIBC
- Canadian Imperial Bankof Commerce(CIBC)
About Canadian Imperial Bankof Commerce Foundation(CIBC)
The CIBC Foundation supports charitable initiatives that create opportunities and remove barriers for underserved communities. Through its partnership with the Black Opportunity Fund (BOF), the Foundation helps advance programs that expand access to capital and resources for Black entrepreneurs across Canada.
“At CIBC Foundation, we are committed to advancing equitable opportunities and supporting programs that empower underserved communities to thrive through education, entrepreneurship, and access to resources.”
- Chancie Romain
- Senior Manager, Diversified Segments | National Industry Programs
- CIBC
- Canadian Imperial Bankof Commerce Foundation(CIBC)
About BlackOpportunity Fund
Black Opportunity Fund (BOF) is a community-led registered Canadian Charitable organization, whose mandate is to dismantle anti-Black racism by establishing a sustainable pool of capital to fund Black led businesses and Black led not for profits and charities, in order to improve the social and economic well-being of Canada’s Black communities.
The fund will catalyze the cultural, socio-economic, institutional, and political change required to enable Canada’s diverse Black communities to thrive. Black Opportunity Fund will prioritize initiatives around education, health, women, criminal justice, entrepreneurship, arts & culture, and youth that impact the quality of life in Black communities across Canada.
Black Opportunity Fund fulfills its mandate by
- Providing grants to Black-led not for profits and charities, who are leading initiatives that impact the quality of life in Canada’s Black communities.
- Facilitating access to capital for Black-led businesses to drive economic empowerment through the disbursement of loans, equity investments and other funding support.
Black Opportunity Fund’s Registered charity #727678070 RR 0001
- Black Opportunity Fund
- (BOF)
