AB Government: Supporting women entrepreneurs
May 12, 2022
Additional loan funds are now available to help women entrepreneurs get easier access to capital in order to create jobs and help diversify the economy.
Alberta’s government continues its work to grow and diversify the economy. Supporting women entrepreneurs to start or expand a business is vital to strengthening Alberta’s economy and attracting job-creating investment to the province.
“Alberta’s economy has momentum and we want to keep it going. By ensuring that women entrepreneurs in our province have more access to capital to help grow their business, we are building for the future. This is an important opportunity to create more jobs and a stronger business environment.”
Doug Schweitzer, Minister of Jobs, Economy and Innovation
Alberta’s government is investing $6 million in grant funding for business loans aimed at supporting and empowering women entrepreneurs by providing them with more access to capital. The loan program provides low interest business loans and business advisory supports to women entrepreneurs.
“Supporting women entrepreneurs is key to building a strong economic future for this province. Working with Alberta Women Entrepreneurs and Community Futures Network of Alberta to provide direct financial support to these business owners will support women as job creators, mentors and business leaders.”
Whitney Issik, Associate Minister of Status of Women
Loans accessed through this grant will be administered by Alberta Women Entrepreneurs and Community Futures Network of Alberta. Each organization will receive $3 million in grant funding through the Women’s Economic Recovery – Capital Growth Initiative.
Both Alberta Women Entrepreneurs and Community Futures Network of Alberta will help empower women entrepreneurs by providing access to funds, as well as business supports like specialized training, advising and mentorship. Under the initiative, up to $75,000 will be available in unsecured conditionally repayable loans. Eligible costs include operating capital, equipment, leasehold improvements, inventory, non-owner salaries and professional fees.
“Research proves that women entrepreneurs drive more than economic growth when their enterprises are successful – they change communities. Women were also disproportionately economically impacted by the pandemic. Access to capital for business investment for women entrepreneurs is essential to rebuilding Alberta’s economy.”
Marcela Mandeville, CEO, Alberta Women Entrepreneurs
“Women entrepreneurs from rural areas are often challenged to access small business financing and support services. By working with a local Community Futures location, female entrepreneurs have up to 27 potential access points to enter the ecosystem and grow their business and community.”
Phyllis Maki , executive director, Community Futures Network of Alberta
About Alberta Women Entrepreneurs and Community Futures Network
Alberta Women Entrepreneurs
For more than 25 years, Alberta Women Entrepreneurs has been providing tools and resources to help women in Edmonton, Calgary, St. Albert and beyond to succeed in starting or growing a business.
Community Futures Network of Alberta
Community Futures Network of Alberta has a rural focus and has helped rural Albertans launch, grow and scale their businesses. With 27 regional offices located throughout Alberta, Community Futures has significant reach into every corner of the province, including with First Nations, Metis Settlements and Indigenous communities.