BDC & Community Futures launch $100M fund for rural businesses

BDC and Community Futures/SADC+CAE/CBDC have launched a new CAD $100 million initiative aimed at increasing access to financing and advisory services for business owners operating in rural and remote areas across Canada.

The program is expected to stimulate up to CAD $250 million in gross domestic product over the next five years, drawing on the combined resources of both organisations. Community Futures operates 267 non-profit offices nationwide, providing small business loans, training, tools, and events, while BDC operates 109 business centres, offering financing and advisory services across the country.

The latest initiative responds to data indicating that rural areas have a higher entrepreneurship rate, which stood at 17 per cent in 2024, than urban regions, where the rate was 12 per cent. This suggests a strong entrepreneurial culture but also highlights unique challenges linked to location and access to resources.

Isabelle Hudon, President and Chief Executive Officer of BDC, emphasised the focus on filling gaps in support for rural businesses:

"Rural and remote communities are full of bold, resilient business owners who often face more barriers and fewer resources. This initiative with Community Futuresallows us to do what a development bank should: go where others don't, and build bridges where gaps exist. We're unlocking potential that's been overlooked for too long."

BDC has plans to contribute an estimated CAD $25 billion to Canada's GDP over the next five years. Community Futures has reported that since 2000, its programs have provided more than CAD $6.3 billion in loans to 135,000 businesses, leveraging a further CAD $11.3 billion and influencing the creation of nearly 780,000 employment opportunities.

The launch comes in the lead-up to Canada's Small Business Week, a national observance celebrating Canadian entrepreneurship. This year's theme, 'The economic revolution is here - get your business ready', highlights the broader focus on equipping business owners for future challenges and opportunities.

With the partnership between BDC and Community Futures now in effect, entrepreneurs in rural and remote communities will be able to access expanded financial and advisory resources geared toward fostering sustainable business growth.

Troy Dungate, President of Community Futures, noted the importance of local expertise and the impact of targeted financing:

"This commitment, combined with our boots-on-the-ground, grassroots knowledge is an intelligent way to ensure that this capital infusion is dispersed through loans to new and existing entrepreneurs that are ready to bring their business to the next level," said Dungate. "Additionally, we know that many entrepreneurs in rural Canada are attracted to the work because of the desirable lifestyle it creates for their families. Working together, we expect this to make positive, meaningful change in the lives of individual Canadians and our country as a whole."

These funds will support both established and new business owners, with an emphasis on generating measurable economic benefits and helping rural entrepreneurs overcome challenges unique to their settings.

Image courtesy of BDC.