The capital you need to grow your business
Financing your business is an opportunity to invest in it. Whether you are looking at loans, grants or other capital avenues, AWE is committed to maximizing your return.
AWE will get to know your unique business needs, help you understand your options and guide you to financing solutions that are right for you. We want to support your success by offering a flexible approach to capital. Let's work on this together and unlock the potential of your business.
What is a Grant?
A grant is a sum of money given by a government or organization to fund a specific project or purpose without the expectation of repayment.
Does AWE Offer Grants?
We do not offer in-house grant programs, however, we've compiled a helpful list of programs and funding sources to assist you in finding the resources you need.
What is a Loan?
A loan is a sum of money borrowed from a lender with the agreement to repay, typically with interest, over a defined period of time.
Does AWE Offer Loans?
Yes, we offer loans up to $150,000 for women-owned businesses in Alberta that are looking to grow and expand, plus we have a community to support you along the way.
How can you use an AWE loan?
Uses that qualify:
Leasehold improvements
Equipment purchases
Advertising and marketing costs
Purchase of inventory
Operating costs including:
Employee wages
Utilities and rent
Technology upgrades
Contractor and professional services fees
Uses that do not qualify:
Owner’s salary
Existing debt
Franchise fees
Speculative ventures, such as purchase of land for resale
Intangible goodwill, such as business name or reputation
Research and development
Purchase of stocks, shares, or other non-productive investments
At AWE, we focus on flexible solutions for entrepreneurs. Let’s discuss the best way to meet the capital needs of your business.
What makes an AWE loan unique?
Our re-investment cycle
AWE believes in community and maximizing the impact of every dollar. We’re proud to practice cycle-back funding where we prioritize the re-investment of money paid through loan interest and fees into other women-owned businesses.
The capital you need to grow
AWE provides repayable loans of up to $150,000 (or more through our lending partners) to women-owned businesses in Alberta. We offer competitive interest rates ranging from Prime +2% to Prime +4%.
Access to personalized resources
We are interested in helping you discover the capital resources you need to grow your business successfully. One solution will not fit all and our team at AWE will help you maximize your business investment through our broad range of services and resources.
Flexibility and clarity
Every business is unique. That’s why AWE offers flexibility of repayment options plus terms of up to five years. There’s no penalty for early repayment of your loan with no hidden fees.
“The loan from AWE provided an exciting opportunity to expand our business reach. With our own funds plus the loan received from AWE, we are now building an exciting new online immigration platform for people who may not need the full services of an immigration law firm, but who understand the perils of trying to DIY your immigration application and risk wasting time and money - and possibly being denied an opportunity to move to Canada. The team at AWE has helped Ackah Law as we continue to open doors to new business opportunities locally and internationally.”
— Evelyn Ackah, Ackah Business Immigration Law
Our Impact
How to Apply for an AWE Loan
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Your women-led business is 50.1% women-owned (Canadian citizen or permanent resident)
Your business is, or will be, registered and operating in Alberta with all shareholders residing in the province
You have a minimum credit score* of 650
You will or have contributed a minimum of 25% owner equity* on total project costs
You are able to pledge a minimum of 30% collateral on the loan, depending on its size, risk and purpose
You need the capital for an eligible use (see above)
* Business Loans FAQ’s can be found below and will help you understand these terms.
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You have prepared a business plan and a detailed marketing strategy
If you are an established business, you have:
Your income statement and balance sheet (accountant prepared) from your last year-end.
Your income statement and balance sheet (in-house prepared) from the beginning of your new year to current.
You have two years of forecasted financials including:
monthly cash flow
income statement
balance sheet
You are ready to provide us with key business documents like incorporation statements and by-laws, CRA notice of assessment, proof of insurance and your most recent annual return
If you are purchasing a business, you have a business appraisal
If your business is a partnership, you have a copy of your partnership agreement
If you are requesting funds for leaseholds or equipment, you have professional estimates
You have a copy of your commercial lease agreement
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Please complete the Are You Ready for Financing? form.
Once you have submitted your Pre-Application, you will receive a confirmation email from AWE
Within two weeks, a member of AWE will reach out to work with you on your formal application for review
Once approved, your Pre-Application is turned into a formal Loan Application
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Within two weeks, a member of AWE will reach out to you to discuss the results of your Loan Application
You will receive a request for a one-time administration fee of $100-$700, depending on the size and type of loan
Loan Resources
Find all the information and forms you need for your business right here:
Business Loan FAQs
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AWE asks all applicants to pledge a type of asset as collateral for the loan. AWE works closely with our loan clients to ensure the health and viability of the business. In the case that the borrower cannot make payments on the loan, AWE can take possession of the asset used as collateral to regain some, or all, of the amount originally loaned.
AWE requires a minimum of 30% collateral on our loans. This amount differs depending on the size, risk and purpose of the loan.
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Your credit score is used anytime you are looking to receive some form of credit. Lending institutions use your credit score to determine your financial health and how likely you are to pay them back.
You can request your credit score report by mail for free or online for a fee.
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With our loan program, AWE requires the applicant to contribute (or has contributed) a minimum of 25% owner equity on the total project costs. This means we require all applicants to show that they will put (or already have put) money into their business toward the project costs. AWE can then help them with the remaining 75% of project costs. By contributing at least 25% of the total project costs, you are displaying that you are willing to take on some of the risk.
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Join the AWE Network for on-demand access to recorded Business Learning Series webinars
Register for one of the many live webinars through AWE’s Business Learning Series
Register for AWE’s Let’s Start Your Business Plan Webinar Series
Download AWE’s Business Plan Guide if you are creating your business plan for the first time
Connect with a member of AWE to discuss your questions
