Access to FUNDING for Black Entrepreneurs | Help Black-led Businesses |BMO

The Bank of Montreal (BMO) is taking a stronger stance on fostering economic growth within the Black business community through its recent partnership with Black Atlas, an initiative dedicated to supporting entrepreneurs. The collaboration underscores BMO’s commitment to addressing one of the most persistent barriers facing Black entrepreneurs: access to funding.

A commercial relationship manager at BMO, speaking at the Black Atlas event, described the partnership as both timely and essential. “We know one of the things that Black entrepreneurs struggle with is access to funding. At BMO, we want to change that narrative,” he explained. “That is why we launched the Black Entrepreneur Program—to provide funding solutions whether you’re starting, expanding, or scaling your business.”

The Black Entrepreneur Program has become a cornerstone of BMO’s inclusion efforts, offering loans, mentorship opportunities, and advisory support tailored to entrepreneurs at different stages of growth. By working with Black Atlas, the bank aims to extend these resources to a broader audience and build stronger connections within the community.

The event brought together dozens of business owners, creating a space not only for networking but also for conversations about the systemic challenges many continue to face. The BMO representative emphasized that while financial capital is critical, structural support is equally important. “We’ve signed partnerships with several organizations that can help entrepreneurs with their business plans, structuring, and long-term vision,” he said. “It’s about ensuring they have the foundation they need to succeed.”

For the Black community, the growing involvement of financial institutions in these initiatives marks a shift from a long history of exclusion. “We were cast aside for a long time,” the representative acknowledged. “It’s encouraging to see so many institutions now joining hands with us to help entrepreneurs reach their goals.”

He also highlighted a recurring issue within the community: the tendency for many business owners to rely on personal savings to finance their ventures. “There are so many resources available,” he noted. “We want people to come to us. It will be our pleasure to help them.”

With programs like Black Atlas and partnerships with major financial institutions such as BMO, the future for Black entrepreneurs in Canada is poised to become more accessible and sustainable. “It is a great honor to see so many entrepreneurs gathered here today,” the BMO representative concluded. “We want the community to know we’re here, ready to help, and committed to building lasting opportunities.”