Alberta to invest $6M in grant funding for women entrepreneurs

The Alberta government is offering additional loan funding to assist women entrepreneurs.

The province says the goal is to promote easier access to capital, help create jobs and diversify the economy.

Alberta is investing up to $6 million in grant funding for business loans, which will support women-run businesses with more access to capital.

The loan program will also provide low-interest business loans and business advisory services and supports including specialized training and mentorship.

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“Alberta’s economy has momentum and we want to keep it going,” said Doug Schweitzer the Minister of Jobs, Economy and Innovation in a release. “By ensuring that women entrepreneurs in our province have more access to capital to help grow their business, we are building for the future.

“This is an important opportunity to create more jobs and a stronger business environment.”

The Alberta Women Entrepreneurs and Community Futures Network of Alberta will coordinate the business loans, with each organization able to receive $3 million in funding through the Women’s Economic Recovery Capital Growth Initiative, says the release.

“Research proves that women entrepreneurs drive more than economic growth when their enterprises are successful – they change communities. Women were also disproportionately economically impacted by the pandemic,” said Marcela Mandeville, CEO of Alberta Women Entrepreneurs.