If you’re launching or growing a startup in Canada, one of the biggest challenges is accessing capital. Whether you’re building a product, hiring a team, or scaling operations, funding is often the missing piece. The good news is that Canada offers several strong programs to help, including the Canada Small Business Financing Program (CSBFP). At North Forge, we help entrepreneurs understand their options and prepare to apply.
Why Startup Funding in Canada Is Hard to Access
Many startups struggle to get funding from traditional lenders. Banks often require substantial revenue, assets, or credit history, which early-stage businesses usually don’t have. This is where government-backed programs and support ecosystems come in. North Forge helps founders understand what’s available and how to qualify.
Top Funding Options for Startups in Canada
Canada Small Business Financing Program (CSBFP)
The CSBFP is a government-backed loan program that enables small businesses to access financing through banks and credit unions. The government shares the risk with lenders, making it easier for startups to secure approval.
What you can borrow:
Up to $1 million for term loans
Up to $500,000 for leasehold improvements or equipment
Up to $150,000 of that for working capital or intangible assets
Up to $150,000 for a line of credit
Eligible uses include:
Renovating or leasing commercial space
Buying equipment or machinery
Covering working capital or purchasing software/IP
Grants and Non-Repayable Funding
Canada offers a wide range of grants for startups in tech, clean energy, agriculture, and more. Examples include:
IRAP (Industrial Research Assistance Program)
CanExport
Regional and provincial grants (like Manitoba-based options)
One other tool you could use to find grants and loans created by the federal government is the Canada Business Benefit Finder. This tool allows you to see and learn more about some of the opportunities you might be eligible for.
North Forge helps match startups with the right funding programs and guides them through applications.
Equity Investment and Angel Capital
For startups with traction or MVPs, equity funding from investors is another path. To attract investment, you need:
A solid business model
Customer validation
A compelling pitch
North Forge’s Founders Program prepares entrepreneurs to pitch with confidence and clarity.
"Investors are doing due diligence to assess whether they think they can make a profit by investing in a startup. So to attract investment, they need to show they have the basic component that drives profit, which are a strong team, product, market and traction." - Grace Gyolai, Program Manager
How North Forge Supports Funding-Ready Startups
North Forge is more than an incubator. We provide end-to-end support to help startups grow and fund their businesses.
Through our programming, we support startups and founders with:
Business plan and funding strategy support
1-on-1 mentorship with experienced advisors
Pitch coaching and investor preparation
Connections to lenders, grants, and capital networks
📘 Final Thoughts: Funding Is Out There; However, Preparation Is Everything
Navigating startup funding in Canada can be complex, but you don’t have to do it blindly. Programs like the CSBFP are available to support new businesses, but they require clear planning, financial strategy, and documentation.
At North Forge, we don’t provide funding, but we do provide resources, mentorship, and community to help you prepare for it.
If you’re ready to move forward, here are a few next steps you might find helpful:
We’re here to help you build the strongest foundation possible, so when funding becomes available, you’re ready for it.
