Trudeau announces cash for loans, support to Black Canadian entrepreneurs

OTTAWA — The federal government is creating a new national program to help Black Canadians get business loans with national banks.

Prime Minister Justin Trudeau says the COVID-19 pandemic has disproportionately affected Black Canadians and put a spotlight on inequality in Canada.

The new program will include $53 million for Black business organization to help entrepreneurs access funding, mentorship, financial planning and business training.

Another $6.5 million will go to collect data on the state of Black entrepreneurship and identify the barriers preventing Black Canadians from succeeding in business.