Subjects: GOVERNMENT CONTRACTS, MUTUAL FUNDS, MISCELLANEOUS, MISCELLANEOUS
WEOC SELECTED AS MAJOR LOAN FUND DELIVERY ORGANIZATION
Winnipeg, MB, Canada, March 08, 2022 (GLOBE NEWSWIRE) -- Women's Enterprise Organizations of Canada is pleased to announce our selection as a delivery organization for the Government of Canada's new $55 million Women Entrepreneurship Loan Fund.
Announced in Budget 2021, this initiative recognizes that access to capital, particularly in smaller amounts, remains a significant barrier for many women entrepreneurs seeking to start or grow their businesses. This new initiative will seek to provide smaller amounts of affordable financing to women entrepreneurs, particularly for start-ups, underrepresented groups or sole proprietorships which may experience more difficulty in accessing financing.
"I thank the Government of Canada for its continued investment in women entrepreneurs through the establishment of the Women Entrepreneurship Loan Fund. I know that this fund will enable the growth of small and medium sized businesses, which are the backbone of the Canadian economy," says Alison Kirkland, CEO, Women's Enterprise Organizations of Canada. "I am confident that the loans program established by WEOC will support women entrepreneurs both by providing access to much needed funding, as well as the wrap-around supports that we know ensure long-term success."
WEOC has already established partnerships with a number of women's enterprise organizations across the country and is seeking additional partners in all regions. If you are interested in becoming a lending partner, please contact WEOC's loans team at [email protected]
The first loan funds will become available in summer 2022.
More information is available on the Women's Enterprise Organizations of Canada website.
Interview requests for Alison Kirkland, CEO of Women's Enterprise Organizations of Canada, can be sent to Lindsay Stewart Glor [email protected].
Definitions
Woman: A person who self-identifies and lives their life as such. The construct of woman is influenced by social and cultural factors, among others.
Women-Owned Business: Refers to a business is that is more than 50% owned by one or more women, who is managed and controlled by one or more women, where a woman is a signatory of the business's legal documents and financial accounts, and which is operated independently from businesses that are not owned by women.
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