The federal government is expanding access to financing for small businesses in rural and remote parts of the country through a new $100-million partnership between the Business Development Bank of Canada (BDC) and Community Futures/Community Business Development Corporations (CBDCs).
The initiative, announced by Small Business Minister Rechie Valdez, is designed to help entrepreneurs who struggle to access funding through traditional lenders. It will provide loans and business support to help small firms launch, expand, or adapt to changing market conditions.
Valdez said the new fund builds on ongoing federal efforts to strengthen Canada’s small-business sector, including tariff relief programs, BDC loan expansions, and the $5-billion Strategic Response Fund created to help businesses facing trade-related disruptions. “Small businesses are the backbone of our economy,” she said. “When local entrepreneurs have access to financing and mentorship, they create jobs and strengthen communities.”
BDC President and CEO Isabelle Hudon said the initiative reflects the bank’s focus on reaching entrepreneurs outside major urban centres. “Every entrepreneur, no matter where they live, deserves a fair chance to grow their business,” she said. “This partnership allows us to go where others don’t and build bridges where gaps exist.”
Troy Dungate, President of Community Futures, said the collaboration will help unlock potential that’s often held back by geography and distance. “This commitment, combined with our grassroots knowledge, ensures that this capital infusion reaches entrepreneurs ready to bring their businesses to the next level,” he said.
The program comes just ahead of Small Business Week (October 19–25), a national celebration recognizing the contributions of Canadian entrepreneurs to the economy.
