Propelling Black Entrepreneurship: FACE Coalition Launches 2nd Round of Bursaries in Canada

MONTREAL, May 8, 2025 – The Federation of African Canadian Economics (FACE Coalition), with renewed investment from TD Bank Group, has introduced the second round of its Propelling Black Entrepreneurship Program, targeting early-stage Black-founded businesses across Canada .

Program Highlights

• 582 applicants in round one; 136 bursaries awarded, with 102 fully utilized to date newswire.ca.

• Grant amounts range from $2,500–$5,000, offsetting critical costs like business planning, accounting, and tax services newswire.ca+1themalaysianreserve.com+1.

• Round-one bursaries have strengthened access to financing, unlocked strategic partnerships, and bolstered business readiness.

Eligibility & Application Process

• Applicants must be Black entrepreneurs in Canada, operating for two years or less, and formally registered.

• Mandatory information session precedes selection by a committee, followed by tailored connections to professional service providers au.finance.yahoo.com+8newswire.ca+8facebook.com+8.

Strategic Context & Impact

• FACE’s 2023–2024 fiscal year saw $15.7M in approved loans, including $12.9M disbursed across 152 loans, supporting Black-owned businesses under tightening economic conditions facecoalition.com+2newswire.ca+2newswire.ca+2.

• Cumulatively, the Coalition has approved over $60M in loans since 2021—and disbursed 500 loans—marking sustained impact facecoalition.com.

Key Partners & Stakeholder Statements

• Tiffany Callender, CEO of FACE:

  “We are delighted to continue our collaboration with TD…emphasizing the urgent need for financial accessibility and support.” newswire.ca+1newswire.ca+1

• Christian Bassong, TD Bank Group:

  “Through the TD Ready Commitment, we are proud to renew our support…breaking down barriers and creating opportunities for all.” newswire.ca

What This Means for the Black Business Ecosystem

• Enables foundational development of new Black businesses through access to essential services.

• Demonstrates the power of public–private partnerships in bridging systemic capital gaps.

• Positions FACE as a strategic keystone for sustained Black economic empowerment in Canada.

NBCC Suggested Advocacy & Action

Outlook

As Canada pioneers through sustained capital infusion into Black small businesses, NBCC can leverage this model to design U.S.-based programs that ensure startup Black enterprises access early-stage funding and advisory services—critical drivers of economic inclusion and racial equity.