ELLA Ascend
Highlights
This program is designed specifically for women entrepreneurs like you. It offers a 4-month accelerator program to help you build traction, refine your customer personas, and enhance your product or service offerings. With expert advice tailored to your business needs, you will receive one-on-one mentorship, progress check-ins, and bi-weekly peer meetings.
What You Get
- One-on-one mentorship with industry experts
- Progress check-ins with a dedicated staff member
- Bi-weekly Founder circles to discuss challenges and solutions
- Curated workshops and goal-focused support
- Access to a community of diverse women entrepreneurs
Benefits
- Expert guidance to understand your ideal customer profile and high-level financials
- Growth frameworks for sales, marketing, finance, and operations
- Milestone-driven approach to define and achieve growth goals
This program is an excellent opportunity to gain the skills and support needed to take your business to the next level. The application process is straightforward, making it easy for you to qualify and benefit from this unique accelerator program.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Marketing and advertising costs
- Product development and testing
- Business operations and administrative expenses
- Equipment purchases
- Professional services (e.g., legal, accounting)
Ineligible Expenses:
- Personal expenses
- Debt repayment
- Real estate purchases
- Travel and entertainment costs not directly related to business operations
Fees:
- There are no fees associated with applying for or receiving this grant.
Qualifications
- Must be a woman entrepreneur with at least 50% ownership of a registered business, non-profit, or social enterprise.
- Must be working full-time on the venture.
- Must have a minimum annual revenue of $50,000 and paying customers.
- Business must be located in Canada.
- Must be open to change and willing to step out of the comfort zone.
- Must be able to commit fully to the requirements of a 4-month accelerator program (around 1-2 days of programming per week).
Description
This program offers your business up to $1,000,000. You can use up to $500,000 of this amount to purchase equipment or improve your rented space.
Eligible purchases include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or working capital, the program can provide up to $150,000.
The federal government guarantees 85% of the loan, giving you a significant safety net.
Flexible repayment options are available. If you've made qualifying purchases in the last 365 days, you can include them in this loan. You can choose between a variable interest rate, a fixed rate, or a combination of both.
You have up to 15 years to repay the loan, regardless of how you use the funds.
Program Steps
Complete the Online Application:
- Visit the application page to start your application.
- Fill out all required fields with accurate information about your business.
Prepare the Appropriate Documentation:
- Business registration documents.
- Financial statements (e.g., balance sheet, income statement).
- Business plan detailing your goals and strategies.
- Proof of annual revenue (minimum $50,000).
- Customer testimonials or case studies, if available.
- Any additional documents that support your application.
Submit the Application:
- Double-check all information and documentation for accuracy.
- Submit your completed application through the online portal.
Wait for Short-Listing:
- Short-listed candidates will be invited for an interview.
- Prepare to discuss your business, goals, and how the program will benefit you.
Attend the Interview:
- Participate in the interview process as scheduled.
- Be ready to answer questions and provide further details about your business.
Receive Notification:
- Candidates will be notified of their application status.
- If selected, review the program details and requirements.
Start the Program:
- Upon acceptance, begin participating in the program activities.
- Engage in mentorship, workshops, and peer meetings to maximize the benefits of the program.