We know it's not easy to get financing for a small business, especially if you're young. That's why we launched our character-based, flexible, and affordable financing program--to help young entrepreneurs take their business to the next level.

In collaboration with the City of Toronto and Alterna Savings, the Youth Micro Loan Program provides low-cost loans of up to $5,000 to successful BITS graduates and other qualified applicants with feasible business plans.

Approved loan recipients will be awarded a matching grant through the Robert Kerr Grant Fund, doubling the total potential funding amount to $10,000!

"I loved the mentors, the coaching, and the focus on managing money. [BITS] looks at character and drive, and that’s something that is sorely needed in the area of youth entrepreneurship, BITS gave me hope, it gave me the tools, guidance, and financial resources to monetize my purpose.” - Justice Achampong

Read Justice's and other success stories here.



  • Between the ages of 18-34 with legal residency in Canada as a Citizen or Landed Immigrant,
  • Unable to access business financing from a mainstream banking institution,
  • Reside or operate a business in the City of Toronto. Priority will be given to the under-served Neighbourhood Improvement Areas,
  • May have one or more barriers to employment,  
  • Operate a legal, seasonal, full or part-time micro, and/or social enterprise under 5 years,
  • Personal income or assets less than $30,000,
  • Successfully complete BITS Training,
  • Produce a business plan and 12 months cash flow, as deemed appropriate by BITS.

General Terms:

  • Loan amount $1,000 - $5,000,
  • Interest rate: Alterna's prime + 1.25%,
  • Amortized within 3 years,
  • $100.00 one-time administrative fee,
  • Open an account with Alterna Savings and get a membership for $15,
  • Loan approvals will be made by the BITS Loan Review Committee,
  • The matching grant will be awarded only if the loan is a approved; the loan cannot be repaid by the grant.

Application Process Overview:

  • Contact us to discuss your proposal and receive an application package,
  • Attend a business consultation session and complete any additional training, if necessary,
  • Complete the application package and submit it with all the required supporting documentation,
  • Participate in the interview and review process.

For any questions, or clarifications please contact


The BITS Bucks Micro Finance Fund would not have been possible without the commitment and support of our Program Partners.