Mastercard fund backs Canadian women small businesses

Mastercard has opened applications for its 2026 Mastercard Small Business Fund in Canada, offering grants and business support for women small business owners.

The programme will award 10 grants of CAD $10,000. Recipients will also receive tailored mentorship, support to help grow their business online, and a Priceless Experience in Toronto.

Mastercard presented the fund as part of its broader work with small and medium-sized enterprises (SMEs) in Canada, aimed at supporting owners during a period of economic and market uncertainty.

Financing gap

Women-owned businesses represent almost one-fifth of private-sector businesses in Canada, according to Statistics Canada. Many still face challenges in accessing finance and scaling their operations.

Women-led firms also play a notable role in Canada's innovation pipeline. Mastercard-cited data shows 30.5% of women-majority-owned SMEs are classified as innovative enterprises, higher than the rate among male-majority-owned SMEs.

Mastercard said the fund combines financial support with access to resources and networks, and positions it as a way for entrepreneurs to share experiences and build community connections.

"Small businesses fuel our economy and inspire innovation across the country, and we're dedicated to providing them the tangible support they need to help them grow to their fullest potential," said Nishant Raina, Vice President of Small and Medium Enterprises at Mastercard Canada.

"Through the Mastercard Small Business Fund, we're empowering entrepreneurs with community, mentorship and skills so they can transform obstacles into opportunities and build the future they've imagined," Raina said.

Previous recipients

Mastercard pointed to previous recipients as evidence of the fund's impact, saying past grant holders have expanded operations and reached new milestones after taking part in the programme.

One previous recipient, Mahara Mindfulness, said the funding helped drive growth and expand its market reach.

"Receiving funding from Mastercard was a game-changer for us-it gave us the momentum we needed to scale our operations and reach new audiences," said Sheba Zaidi, Co-founder of Mahara Mindfulness and a previous recipient.

"As a small business owner, every day can feel like a new journey, but having access to new resources and networks has allowed us to uncover opportunities and feel more prepared for what's ahead," Zaidi added.

Wider SME push

Alongside the fund, Mastercard has developed other services for small business operators. In 2025, it launched Small Business Navigator, described as a set of resources focused on key areas of need for entrepreneurs.

Small Business Navigator includes free economic trend reports, cybersecurity education resources, and partner offers designed to deliver cost savings.

Mastercard also runs the Mastercard Small Business Community, which connects small business owners and provides access to resources on business growth and digital adoption.

Applications for the 2026 intake of the Mastercard Small Business Fund are open until 24 March 2026. Eligibility is limited to women small business owners in Canada.