Helping Women Entrepreneurs Succeed
McGuinty Government Supporting the Economic Success of Low-Income Women
Ontario is helping over 800 low-income women build and grow their own businesses.
Through the new Microlending for Women in Ontario program six not-for-profit organizations, including the Women's Centre of York Region, will receive funding to support low-income women who are seeking to start their own business. The organizations will offer financial literacy training, entrepreneurial mentoring, skills development and life skills support.
Women who become business ready through these programs will be eligible to receive small loans, or microloans, to start their own business. Close to 400 microloans will be given out across the province.
Helping women succeed in business is part of the McGuinty government's plan to create new opportunities for jobs and growth.
- Ontario is funding six not-for-profit organizations across Ontario that will support low-income women who are seeking to start their own business.
- Microlending programs have been found around the world to be successful in lifting women out of poverty.
- Microloans are traditionally targeted towards low-income individuals who lack the credit history or collateral to start their own businesses.
“Women are best able to support themselves and their families when they are empowered to become financially self-sufficient. Microlending has been proven effective in lifting women out of poverty here in Ontario and around the world - allowing women not only to survive, but to thrive.”
“This program will help low-income women in York Region by giving them the necessary support and skills to succeed as entrepreneurs. Getting a loan can help start new businesses that will contribute to Ontario’s economy.”
“We wanted to create a well-rounded program that would not only give applicants the knowledge and support needed to run a successful business, but the self-confidence to start one from the ground up.”