WeBC — Business Mentoring and Peer Groups
Highlights
This program is designed specifically for women entrepreneurs like you. It offers a range of benefits that can significantly boost your business. One-to-One Mentoring pairs you with an experienced entrepreneur who can guide you through challenges and help you make informed decisions. Growth Peer Mentoring Groups provide a supportive network of fellow women business owners, offering fresh perspectives and shared experiences.
Why should you apply? The program can increase your confidence and business skills, with 95% of past participants reporting improved confidence. You'll gain valuable insights and strategies to scale your business successfully. The financing options include business loans tailored for women and youth, as well as equity financing and venture capital. These options often come with more favorable terms than traditional loans, making it easier to invest in your business's growth.
What's in it for you? By joining, you'll build a strong support system, gain access to expert advice, and improve your business acumen. The program is designed to be accessible, with a high success rate for applicants. This is a unique opportunity to grow your business with the backing of a supportive community and expert mentors.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- The loan offers a fixed interest rate of 5% per annum.
- Repayment term is up to 10 years.
- Early repayment is allowed without any penalties.
Eligible Expenses:
- Purchase of new or used equipment.
- Leasehold improvements.
- Working capital.
- Intangible assets such as patents and trademarks.
Ineligible Uses:
- Personal expenses.
- Real estate purchases.
- Refinancing existing debts.
Fees:
- Application fee of $150.
- Annual maintenance fee of 1% of the outstanding loan balance.
- No prepayment penalties.
Qualifications
- Must be a woman entrepreneur.
- Business must be located in British Columbia (BC).
- Must be interested in business mentoring and peer support.
- Must be willing to participate in one-to-one mentoring or peer mentoring groups.
Must be open to building networks and gaining fresh perspectives.
Disqualifications:
- Businesses not owned by women.
- Businesses located outside of British Columbia (BC).
Description
This program offers valuable mentorship and peer support for women entrepreneurs. By joining, you can connect with other business owners and experts who will help you stay focused and inspired.
One-to-One Mentoring pairs you with an experienced entrepreneur who understands your journey. This personalized guidance can help you make confident decisions and grow your business.
Peer Mentoring Groups provide a supportive network of women entrepreneurs across Canada. Sharing experiences and advice in these groups can help you tackle challenges and seize new opportunities.
Participants often see a significant boost in confidence and business skills. Before joining, only 39% of mentees felt confident in their abilities. After completing the program, this number jumps to 95%.
This mentorship program is part of a larger initiative funded by the Government of Canada’s Women Entrepreneurship Strategy. It’s a great opportunity to gain the knowledge and support needed to scale your business successfully.
Program Steps
Visit the Program Website: Go to the official website where the program details and application form are available.
Create an Account: If required, create an account on the website to access the application form and other resources.
Download the Application Form: Locate and download the application form from the website.
Prepare Documentation: Gather the necessary documents to support your application. These may include:
- Business Plan
- Financial Statements (e.g., balance sheets, income statements)
- Proof of Business Registration
- Identification Documents
- Any other documents specified in the application guidelines
Complete the Application Form: Fill out the application form with accurate and detailed information about your business and your needs.
Attach Documentation: Attach all the required documents to your completed application form.
Review Your Application: Double-check all the information and documents to ensure everything is accurate and complete.
Submit the Application: Submit your completed application form and attached documents through the specified submission method (e.g., online portal, email, or mail).
Confirmation of Submission: Ensure you receive a confirmation of submission, either via email or through the online portal.
Follow Up: If you do not receive a confirmation or if you have any questions, contact the program's support team for assistance.
Await Response: Wait for the program administrators to review your application. They may contact you for additional information or clarification.
Approval and Next Steps: Once approved, follow the instructions provided by the program administrators to proceed with the next steps, such as attending an orientation session or signing an agreement.
