Loan
Federal
Active
Women Entrepreneurship Loan Fund (WELF)
Innovation, Science and Economic Development Canada (ISED)
Loan Range
Microloans up to $50,000
Ongoing
Difficulty
Easy
Payment
Loan
Trend
Stable
First-Timers
Friendly ✓
Financing share
100%
Women Entrepreneurship Loan Fund (WELF) provides up to Microloans up to $50,000. Microloans of up to $50,000 for women entrepreneurs (50%+ women ownership), delivered by four organizations selected by ISED: WEOC, NACCA, Nventure (DELIA) and Evol. Applications are accepted on an ongoing basis.
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Eligibility & Details
What this program funds and who can apply
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Program Description
Microloans of up to $50,000 for women entrepreneurs (50%+ women ownership), delivered by four organizations selected by ISED: WEOC, NACCA, Nventure (DELIA) and Evol. Applications go to those organizations, not to ISED, and each sets its own fees, security, rates and eligibility, so your terms depend on which one you apply through. Aimed at start-ups, sole proprietorships and underrepresented women entrepreneurs, including newcomers, Indigenous women and 2SLGBTQI+ entrepreneurs.
Eligibility Requirements
- Women entrepreneurs with 50%+ women ownership
- Startups and sole proprietors eligible
- Especially targeting underrepresented groups (newcomers, Indigenous, 2SLGBTQI+)
- Must apply through one of the four delivery organizations selected by ISED: WEOC, NACCA, Nventure (DELIA) or Evol
- NACCA channel: Indigenous Financial Institutions set their own added conditions. Waubetek requires 5% cash or in-kind contributed equity and caps the total financing package at $100,000
- WEOC channel: gross annual revenues must not exceed $2 million
- WEOC and DELIA channels: the individual applying must be at least 19, a Canadian citizen or permanent resident, and residing in Canada
- Evol channel (Quebec): the business must be legally incorporated and registered with the Quebec Enterprise Register, have its head office and main activities in Quebec, and contribute to at least one UN Sustainable Development Goal
Provinces
Industries
Business Stage
Quick Assessment
Difficulty
Easy
Competition
Low
First-Timer
Friendly
Funding Details
- Amount
- Microloans up to $50,000
- Type
- Loan
- Level
- Federal
- Financing share
- Up to 100% of eligible costs
- Deadline
- Ongoing
Program Scorecard
Competition, effort, and approval at a glance
Competition
Low
Deadline
Ongoing
Approval
Moderate
Accessibility
--/5
Competition
--/5
Approval Rate
--%
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How to qualify
Insider tips, common pitfalls, and what successful applicants look like
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Insider TipISED lists four delivery organizations: WEOC, NACCA, Nventure (DELIA) and Evol.
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Success Profile
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Evaluation Criteria
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The pitfalls, the checklist and the reviewer notes are in the Playbook below. See what it includes ↓
What's in this Playbook
Everything you need to secure WELF
Not a marketing summary. The actual checklist, intel, and stack strategy reviewers look for.
- 6-document checklist with what each reviewer is actually checking
- Your Application Game Plan — the print-ready PDF the preview below describes
- 8-step application timeline with prep hours per step
- Insider tip from program officers on what separates winners
- 5-program stacking strategy to combine with compatible funding
- Success profile + evaluation criteria — exactly what lenders look for
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Application Playbook
Step-by-step process, required documents, and expenses
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8 steps
6 docs
Application Steps
1
Identify the delivery organization that fits your location and background WEOC (through a regional women's enterprise organization), NACCA (through a regional Indigenous Financial Institution), Nventure's DELIA, or Evol in Quebec
Required Documents 6
✓ Application to one of the four delivery organizations
✓ Business plan with cash flow forecasts (WEOC and Waubetek: minimum two years; DELIA start-ups: 12 months)
Eligible Expenses 13
Ineligible Expenses 13
Deadline Notes
Ineligible Organizations
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Funding Stack Strategy
Compatible programs, clawback risk, and combined funding potential
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5 partners
Compatible Programs
BDC Thrive Lab for Women
Futurpreneur Canada
Visa She's Next Grant
Mastercard Small Business Fund
Provincial Women's Enterprise Programs
Combined Funding Potential
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Clawback Risk
Low Risk
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How WELF Compares
Side-by-side with similar programs
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| Program | Amount | Difficulty | Payment | Deadline |
|---|---|---|---|---|
| Women Entrepreneurship Loan Fund (WELF) | Microloans up to $50,000 | Easy | Loan | Ongoing |
| BDC Thrive Lab for Women | $100,000–$2,000,000 | Hard | Equity | Ongoing |
| Futurpreneur Canada Startup Program | Up to $75,000 | Moderate | Loan | Ongoing |
| Mastercard Small Business Fund (Canada) | $10,000 per winner | Easy | Lump Sum | Annual — 2026... |
Related Programs
Other programs you might be eligible for
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Frequently Asked Questions
Quick answers to the questions founders most often ask about WELF
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Can sole proprietors apply for WELF?
Yes in the WEOC, DELIA and NACCA channels, as long as the business is over 50% women-owned. DELIA names a sole proprietorship as an eligible legal entity. Evol is the exception: it requires the business to be incorporated and registered in Quebec.
What's the typical loan amount?
Only DELIA publishes a central figure: approved amounts are typically $15,000, and it describes its microloans as in the $15,000 range against a $50,000 ceiling. WEOC, Evol and the NACCA channel do not publish a typical amount.
Do I need to be incorporated?
Not in the WEOC, DELIA or NACCA channels, where sole proprietorships are eligible. Evol is the exception: it requires the business to be legally incorporated and registered with the Quebec Enterprise Register, or to plan to be before the loan process is finalized.
How long does approval take?
It depends on the delivery organization. DELIA says funds normally arrive within two weeks of a full and complete application. WEOC connects you with a regional advisor within about two business days and sends funds within 10 business days of approval and signing, but publishes no decision time. Evol and the NACCA channel publish no timeline.
Why do applications get rejected?
Common rejections include not meeting the 50%+ women ownership requirement, requesting over $50,000, or not matching the partner's geographic/demographic focus.
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Full Playbook: WELF
8 steps · 6 docs · reviewer insights