Breaking barriers for four years and counting: Here’s a look at FACE’s national impact on Black businesses 

Black-owned businesses in Canada are growing more than ever, thanks to this non-profit organization, which tirelessly works behind the scenes to provide a network that empowers entrepreneurs to succeed. 

With Black-owned businesses representing just 2.4 per cent of the nation’s total businesses, Federation of African Canadian Economics (FACE) is working to increase that number, providing Black business owners with the vital resources, access to funding, and connections they need to thrive in a competitive economy.

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Accessing funding has long been a challenge for Black entrepreneurs in Canada. Traditionally, Black business owners have been sidelined by systemic barriers such as biases, limited networks, and unequal access to funding. This has led to underfunding of many promising ventures, limiting the potential for growth and job creation within Black communities.

In response, FACE, in partnership with the Government of Canada, established and administers the Black Entrepreneurship Loan Fund (BELF) as a key component of the Black Entrepreneurship Program (BEP). Launched in 2021, this loan fund provides Black entrepreneurs the essential capital they need to grow and scale their businesses. With the Government of Canada as the sole investor, contributing $160 million to the fund, FACE has helped change the financial landscape for many business owners across the country.

“It’s never been done in Canada,” FACE Coalition CEO Tiffany Callender said in an interview with Now Toronto’s sister station, The Brandon Gonez Show. 

“And our job is to make sure that Black entrepreneurs get access to debt capital to start and scale their businesses.” 

Since its inception, FACE has approved over $60 million in loans, showcasing its mission to create Black generational wealth and foster economic growth in Canada. 

FACE funds businesses in diverse industries, from tech to fashion to professional services, and its work impacts several communities nationwide.  

“The reality of it is that the communities never lack talent, ingenuity,” Callender explained. 

She said that entrepreneurship in the Black community is not new, but it needs to be more accessible and easier to achieve, which she believes the loan fund does. However, Callender stressed that a loan fund created and managed by the Black community ensures that the community has control over where their investments go, shaping the long-term economic future of the Black community in Canada.

Callender described the relationship between Black business owners and banks as often  “stressed” or “non-existent.” She shared the story of a man with multiple professional degrees who wanted to open a pharmacy, but faced many obstacles from the bank, which insisted that he open the business first before applying for a loan. The BELF has been a lifeline for many recipients with similar situations.

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“He was probably very frustrated and not understanding why his abilities, skills, expertise are not able to be actualized. And this is where you get that negative undertone, that we sometimes have to live with because we know we can do it. But if there are barriers built around this systemically, what are you to do other than throw your hands up and be angry?” Callender questioned. 

“I’m sure that man would have found a solution. But why did he need to take the tough, winding road when others would get the simple entry?” 

As Canada’s population grows, with immigrants making up a significant portion of the Black entrepreneurial community, FACE remains committed to ensuring that Black newcomers have the support they need to thrive. The good news is that applicants don’t have to be Canadian citizens. FACE is open to business owners who are permanent residents, so long as they provide a business plan and meet other eligible criteria available on its website. 

“Our goal is to make this as clear as possible and support you through the process. And if you’re not ready, if you don’t have those documents, we also refer you to organizations under the BEP that are there to help you,” Callender said. 

Through initiatives like the Propelling Black Entrepreneurship Program, supported by TD Bank, which offers bursaries for professional business services, FACE is addressing the systemic inequalities Black entrepreneurs face while fast-tracking them on the right path.

“There were those questions. It’s like, ‘OK, I want to apply. I have a business, but I don’t have a business plan.’ So we prepared the Propelling Black Entrepreneurship Program, and that’s where we were giving bursaries to entrepreneurs so that they could work with an accounting firm to get those things done; business plans, financials, taxes, because those are the barriers, right?” Callender explained. 

FACE has already established a nationwide presence, serving all 13 provinces and territories. With the support of its partners and the continued investment of the Government of Canada, FACE remains committed to expanding its impact. The organization’s mission is clear: to ensure that Black Canadian entrepreneurs can access the resources, capital, and networks they need to create sustainable businesses and drive a long-lasting economic growth.

“I think there’s a comfort in knowing that the people who issued your loan want you to win. So, that means we’re all being accountable to each other,” Callender said. 

For more information about FACE and everything it offers, visit here.