ACCESS provides microloans up to $5000 ($10,000 for second time loans).
If you have already reviewed the Eligibility Criteria, you can proceed to apply for a loan.
If you are looking for a loan under $1000 for business or professional development, please see our MiniMicroLoans
To apply for a microloan, you:
- Must be a Canadian citizen, permanent resident, or person to whom refugee protection has been conferred under the Immigration and Refugee Protection Act;
and be legally entitled to work in Canada in accordance with relevant provincial or territorial legislation and regulations;
- Must be a resident of Ontario;
- Must be 18 years of age or older;
- Must use the loan to start or expand your business (cannot be used to pay off debt);
- Must be in good standing with the CRA;
- Must not be undergoing a bankruptcy or consumer proposal;
- Must demonstrate difficulty obtaining credit through a financial institution.
Please contact us if you are unsure.
Desirable Assets (not required, but highly beneficial):
- You have completed, or are currently enrolled in, a relevant business training program;
- You are currently operating a business and are able to supply supporting documentation of business activities;
- You have past experience in a similar business or profession.
Click here to see a list of programs and resources available in Toronto.
To apply for a micro-loan, your business:
- Must be located in the Greater Toronto & Hamilton Area (GTHA);
- Must offer a product or service;
- Must be legally registered (in the case of a partnership or corporation with more than one director, all partners and directors must be willing to co-sign for loan).
To apply for a micro-loan, you must submit your:
- Application Form;
- Business Plan;
- Projected Cash Flow (1 year);
- Credit Report & Score;
- Recent Notice of Assessment;
- Your Business License/Registration;
If you meet all of our eligibility requirements, please proceed to apply for a loan.