MONTREAL – The Business Development Bank of Canada is committing $250 million to help Indigenous and Black-led businesses.

The money comes as BDC also creates a new inclusive entrepreneurship team.

The Crown corporation says it is launching a $50-million program that will provide loans, plus training, for businesses that are majority-owned by women, Indigenous and Black entrepreneurs and have revenues under $3 million.

BDC Capital is also launching two new $100-million funds to support Indigenous and Black-led businesses.

The programs will complement a $500-million fund for women launched in 2022 that also serves Indigenous and Black women who are entrepreneurs.

BDC chief executive Isabelle Hudon says too many under-represented entrepreneurs continue to face the same barriers that existed a decade, or even a generation ago.

“Despite a lot of positive strides, we just aren’t moving quickly enough,” Hudon said.