Loan Program Eligibility & Uses
Overview of Eligibility
Individuals submitting loan applications must be:
- At least 19 years of age
- A Canadian citizen or Permanent Resident
- Residing in Canada
Eligible businesses must:
- Have gross revenues that do not exceed $2 million
- Be over 50% women-owned
Eligible
- Capital assets (including machinery/equipment, leasehold/property improvements)
- Office and equipment rental
- Salaries and benefits (excluding owner’s salary)
- IT/software license purchase
- Professional services
- Inventory/supplies
- Intellectual Property
- Working capital (e.g. payroll, lease payments, accounts management, rent, overhead costs)
- Digital (including website/E-commerce development)
- Marketing/advertising/business promotion
- Employee training
- Short term receivable financing (i.e. financing to service a contract)
- Business start-up costs (legal fees, business incorporation fees, business plan preparation, etc.)
Ineligible
- Capital expenditures on real property (e.g. land/building purchases)
- Goodwill
- Amortization costs
- Purchase of assets for more than fair market value
- Owner’s salary
- Payment of bonuses
- Refinancing existing debt
- Purchase of stocks/shares
- Franchise fees
- Research and development
- Management fees
- Dividend payout
- Increase to shareholder or management committee compensation
Looking for more?
> Frequently asked questions
> Connect with WEOC
> Success stories
> WEOC National Loan Program home page
WEOC National Loan Program is possible with funding provided by the Government of Canada through the Women Entrepreneurship Strategy.