Press Releases

National Bank partners with the Government of Canada and other financial institutions to support Black entrepreneurs and business owners

Montreal, 9 September 2020 -

Every day, Black business owners and entrepreneurs make invaluable contributions to the development of communities across the country, and their success is essential to economic recovery and prosperity.

COVID-19 has highlighted and exacerbated existing barriers faced by Black business owners and entrepreneurs.

National Bank is pleased to partner with the Government of Canada to launch the country’s first-ever Black Entrepreneurship Program.

National Bank and seven other Canadian financial institutions have collectively committed up to $128 million in lending support for the program’s new Black Entrepreneurship Loan Fund – through which Black-led business organizations will provide loans between $25,000 and $250,000 to Black business owners and entrepreneurs.

Further details on the Program and the Fund will be made available by the Government of Canada.

About National Bank of Canada
With $322 billion in assets as at July 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at nbc.ca or via social media such as FacebookLinkedIn and Twitter.

Information:
Marie-Pierre Jodoin
Senior Manager, Public Affairs and Corporate Social Responsibility
National Bank of Canada
Tel.: 514-394-4209