Updated July 2026 · Verified against Bank of Montreal (BMO) guidelines
✓ First-Timer Friendly Loan
Loan Private Active

BMO for Black Entrepreneurs — Business Loan

Bank of Montreal (BMO)
Loan Range
Up to $150K
Ongoing (contact via ZeroBarrierstoBusinessCA@bmo.com).
Visit Official Program →
Difficulty
Moderate
Payment
Loan
Trend
Stable
First-Timers
Friendly ✓
Financing share
Varies
BMO for Black Entrepreneurs — Business Loan provides up to $150,000 business loan. A BMO business loan of up to $150,000 for Black-owned Canadian for-profit businesses with annual revenue under $10 million. Applications are accepted on an ongoing basis.
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Eligibility & Details

What this program funds and who can apply

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Program Description

A BMO business loan of up to $150,000 for Black-owned Canadian for-profit businesses with annual revenue under $10 million. Funds can be used for capital investments, working capital, or short-term accounts receivable financing.

Eligibility Requirements

  • Black Canadian majority-owned business (>50% ownership)
  • Annual revenue under $10 million
  • Legal resident of Canada or Canadian-owned/controlled legal entity
  • For-profit organization
Provinces
All Provinces
Industries
All
Business Stage
Startup Growth Established

Quick Assessment

Difficulty
Moderate
Competition
Low
First-Timer
Friendly

Funding Details

Amount
Up to $150,000 business loan.
Type
Loan
Level
Private
Deadline
Ongoing (contact via ZeroBarrierstoBusinessCA@bmo.com).

Program Scorecard

Competition, effort, and approval at a glance

Competition
Low
Deadline
Ongoing
Approval
Varies
Accessibility
3/5

Moderate — standard application process

Competition
2/5

Below average competition

Difficulty
3/5

Moderate — standard requirements

Processing Time
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How to qualify

Insider tips, common pitfalls, and what successful applicants look like

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Insider Tip

Contact ZeroBarrierstoBusinessCA@bmo.com to start the conversation, and ask how the Black Opportunity Fund partnership can support your business plan and operations.

Evaluation Criteria

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Premium The pitfalls, the checklist and the reviewer notes are in the Playbook below. See what it includes ↓
What's in this Playbook

Everything you need to secure BMO for Black Entrepreneurs — Business Loan

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Application Playbook

Step-by-step process, required documents, and expenses

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Application Steps

1 Confirm you meet all four eligibility tests Your business must be more than 50% majority-owned by a Black Canadian, have annual revenue under $10 million, be a for-profit organization, and you must be a legal resident of Canada or a legal entity owned and controlled by a Canadian citizen or citizens.

Required Documents 5

✓ Proof that the business is more than 50% majority-owned by a Black Canadian
✓ Financial statements showing annual revenue under $10 million

Eligible Expenses 7

Deadline Notes

Ineligible Organizations

Premium The full guide for this program also covers:
  • 4 more application steps
  • 3 more required documents
  • 7 eligible expenses
  • Deadline notes
  • Ineligible organizations

Funding Stack Strategy

Compatible programs, clawback risk, and combined funding potential

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Stacking partner data not yet available.

Combined Funding Potential See your total funding potential

Clawback Risk

Low Risk

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How BMO for Black Entrepreneurs — Business Loan Compares

Side-by-side with similar programs

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Program Amount Difficulty Payment Deadline
BMO for Black Entrepreneurs — Busines... Up to $150,000 business loan. Moderate Loan Ongoing (contact via...
Black Entrepreneurship Program Up to $250,000 Moderate Loan Ongoing
Canada Small Business Financing Program Up to $1.15 million Easy Mixed (Advance + Reimb.) Ongoing
Investissement Québec — Project Finan... Varies Hard Mixed (Advance + Reimb.) Ongoing
Futurpreneur Canada Startup Program Up to $75,000 Moderate Loan Ongoing

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Frequently Asked Questions

Quick answers to the questions founders most often ask about BMO for Black Entrepreneurs — Business Loan

Free
How much can I borrow, and on what lending criteria?
Up to $150,000. BMO states the program uses specialized lending criteria and competitive interest rates rather than its standard small-business criteria, giving Black entrepreneurs better access to working capital.
Who qualifies for the BMO for Black Entrepreneurs loan?
Your business must be more than 50% majority-owned by a Black Canadian, have annual revenue under $10 million, be a for-profit organization, and you must be a legal resident of Canada or a legal entity owned and controlled by Canadian citizens.
What can I spend a BMO Black Entrepreneurs loan on?
Capital investments such as equipment, leasehold improvements, property improvement and office equipment; working capital including inventory, payroll, lease payments, accounts management, rent and overhead; or short-term accounts receivable financing.
How do I start an application for the BMO program?
Email ZeroBarrierstoBusinessCA@bmo.com to reach a program specialist. You can also find a branch or book an appointment to talk to a BMO business banker.
What comes with the program besides access to a loan?
BMO lists better access to education — practical tools, webinars and coaching — and better access to partnerships through its community partner, the Black Opportunity Fund.

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