This program is currently between intakes. Annual cycle. Applications typically open September and close early November. Confirm on the official site ↗
Updated June 2026 · Verified against Mastercard Canada / Pier Five guidelines
✓ First-Timer Friendly Lump Sum Est. 2022
Award Private Between Intakes

Mastercard Small Business Fund (Canada)

Mastercard Canada / Pier Five
Prize
$10,000 per winner (10 winners = $100,000 total annually) +...
Annual — 2026 applications ran March 3–24 (now closed); winners announced spr...
Visit Official Program →
Difficulty
Easy
Payment
Lump Sum
Trend
Stable
First-Timers
Friendly ✓
Mastercard Small Business Fund (Canada) provides up to $10,000 per winner (10 winners = $100,000 total annually) + Priceless mentorship experience in Toronto; open to women-owned businesses only. Annual grant program by Mastercard Canada and Pier Five awarding $10,000 each to 10 women small business owners in Canada, totaling $100,000. Annual — 2026 applications ran March 3–24 (now closed); winners announced spring; next cycle expected early 2027.
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Eligibility & Details

What this program funds and who can apply

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Program Description

Annual grant program by Mastercard Canada and Pier Five awarding $10,000 each to 10 women small business owners in Canada, totaling $100,000. Now in its 4th year (launched 2022). Winners receive a Priceless experience in Toronto with expert mentorship, networking with fellow recipients, and connections to Mastercard partners. Business must be 51%+ women-owned (cis or transgender), have 1-99 employees, generate under $1M in gross revenue, and have been operating for at least 1 year. Applications through Pier Five platform, typically open September-November.

Eligibility Requirements

  • Business must be 51%+ owned and controlled by one or more cis or transgender women
  • Must have a Canadian or provincial business registration number
  • Minimum 1 employee, maximum 99 employees
  • Under $1,000,000 CAD in yearly gross revenue
  • Business must have been in operation in Canada for at least 1 calendar year
  • Owner must be 19 years of age or older
  • Owner must be Canadian citizen, permanent resident, or hold valid immigration authorization
  • Open to all industries
Provinces
All Provinces
Industries
All
Business Stage
Startup Growth Established

Quick Assessment

Difficulty
Easy
Competition
High
First-Timer
Friendly

Funding Details

Amount
$10,000 per winner (10 winners = $100,000 total annually) + Priceless mentorship experience in Toronto; open to women-owned businesses only
Type
Award
Level
Private
Deadline
Annual — 2026 applications ran March 3–24 (now closed); winners announced spring; next cycle expected early 2027

Program Scorecard

Competition, effort, and approval at a glance

Competition
High
Deadline
Between Intakes
Approval
Good
Accessibility
--/5
Competition
--/5
Approval Rate
--%
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What's in this Playbook

Everything you need to win Mastercard Small Business Fund (Canada)

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How to Win

Insider tips, common pitfalls, and what successful applicants look like

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Insider Tip

Mastercard's brand is built on digital payments and financial inclusion, so applications emphasizing digital transformation, e-commerce adoption, or technology-driven growth resonate strongly with the selection committee.

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Rejection Pitfalls 10

  • Business not 51%+ owned and controlled by cis or transgender women
+9 more pitfalls
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Success Profile

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Evaluation Criteria

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Application Playbook

Step-by-step process, required documents, and expenses

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Application Steps

1 Monitor Pier Five (pier-five.com) and Mastercard Canada social channels for cycle announcements (typically September opening)

Required Documents 9

✓ Online application form through Pier Five platform
✓ Proof of 51%+ women ownership and control of business

Deadline Notes

Ineligible Organizations

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Applying for Canada? Our Grant Proposal Template ($19) mirrors the section structure Canadian reviewers actually score on. Or get all 4 templates in the Founder Pack ($59 · saves $27) →

Funding Stack Strategy

Compatible programs, clawback risk, and combined funding potential

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Compatible Programs

Visa She's Next Grant Program Women Entrepreneurship Strategy (WES) Ecosystem Fund BDC loans and advisory services Futurpreneur Canada CanExport SMEs Provincial women entrepreneur programs
Combined Funding Potential See your total funding potential
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How Mastercard Small Business Fund (Canada) Compares

Side-by-side with similar programs

Free
Program Amount Difficulty Payment Deadline
Mastercard Small Business Fund (Canada) $10,000 per winner Easy Lump Sum Annual — 2026...
Futurpreneur Canada Startup Program Up to $75,000 Moderate Loan Ongoing
CanExport SMEs Up to $50,000 Moderate Mixed (Advance + Reimb.) Applications accepted...

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Frequently Asked Questions

Quick answers to the questions founders most often ask about Mastercard Small Business Fund (Canada)

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Is my business eligible if I'm a sole proprietor?
Yes, as long as you're a woman owner with 51%+ control, registered in Canada, and meet revenue/employee criteria. Sole proprietors are explicitly allowed under 'business ownership' rules.
What's the typical application time?
A short online form on the Pier Five platform, not a grant proposal. You need your Canadian business registration number, proof of 51%+ women ownership, revenue and employee-count confirmation, and a short narrative on digital growth. No complex financials needed.
Why do most applications get rejected?
Missing Canadian business registration, revenue over $1M, or business not operating 1+ year. 90% of rejections come from these four criteria.
Can I stack this with other grants?
Yes, fully compatible with Visa She's Next, WES, BDC, Futurpreneur, and provincial programs. No conflicts or restrictions.
Do I get paid upfront?
Yes, $10,000 lump sum after approval. No reimbursement required. The Toronto experience (travel, accommodation) is included in the grant value.

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