Canadian Youth Business Foundation

New in Canada's Economic Action Plan

Through Canada's Economic Action Plan, the federal government is providing the Canadian Youth Business Foundation (CYBF) with $10 million to support and mentor youth entrepreneurs. 

About the Program

The CYBF is a not-for-profit organization founded in 1996 that provides young entrepreneurs with loans and mentoring services. It is difficult for youth entrepreneurs to obtain financing from banks and other traditional sources. The CYBF fills this gap and helps to develop the business leaders of tomorrow. 

How It Works

The CYBF provides young Canadians who are thinking about becoming entrepreneurs or who are ready to start their businesses with coaching, business resources, start-up financing and mentoring. Under the CYBF loan program, young entrepreneurs can obtain up to $15,000 in start-up capital. Loan recipients must agree to work with an experienced business volunteer drawn from a pool of mentors assembled by the CYBF. 

Who Is Eligible

Entrepreneurs between the ages of 18 and 34, who have demonstrated a commitment to starting or expanding a small business in Canada and agree to work with a mentor, are eligible. 

How to Find Out More

For more information, please visit the CYBF website, call toll-free at 1-800-464-2923, or write to the Canadian Youth Business Foundation, 100 Adelaide Street West, Suite 1410, Toronto ON  M5H 1S3.

Initiative Update

On June 3, 2010, $10 million in funding was provided to the Canadian Youth Business Foundation, which will disburse the funds to qualified applicants.

More Info:
http://www.cybf.ca/

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