In partnership with Women’s Enterprise Centre, Vancity has launched the Unity Women Entrepreneurs Program to support women entrepreneurs impacted by COVID-19.
The new program offers loans up to $150,000 to women who have been disproportionately impacted by the economic fall-out of the pandemic. No payment required or interest charged on the loans during the first six months.
The program also includes professional business support and connections with a community of other women business owners throughout BC and complimentary online education and resources on financial management, leadership, marketing and more.
Evidence shows that women and women-owned businesses are disproportionately affected by the economic fallout of COVID-19, with Statistics Canada showing that 73 per cent of women-owned businesses are experiencing a high negative impact on the demand for products or services in their industry.
Pressures of childcare and the fact that many women-owned businesses are more likely to be self-financed also contribute to increasing pressures on these entrepreneurs.
The Unity Women Entrepreneurs Program is available to all women who have been in business for at least two years, including those who are not yet members of Vancity.