PAROProsper BIZCamp


Before proceeding to the application please review the eligibility requirements.

If you currently do not meet all the eligible requirements, your PARO Representative will assist you with either:

  1. becoming eligible for the WEOC program
  2. or access other funding opportunities

About PARO Centre for Women’s Enterprise

PARO is the official representative/Loan Fund Partner for Ontario for the WEOC Women Entrepreneur’s Loan Fund, which supports women and non-binary entrepreneurs from launch to scaling their businesses. The maximum amount per loan is up to $50,000.

As the Loan Fund Partner for Ontario, PARO will work with each Loan applicant through the PAROProsper BIZCAMP, which includes: four (4) compulsory webinars and one-on-one work with a PARO Business Counsellor or Business Growth Advisor to develop a business plan describing the viability and feasibility of the applicant’s business. The business plan, which includes cash flow forecasts for a minimum of two years, is a requirement for applying to the Loan Fund.

The completion of the WEOC Application for the Women’s Loan Fund will be required along with their business plan, and Assessment and Recommendation of their PARO Counsellor. The PAROProsper BIZCAMP will guide applicants through this process.

Eligible Loan Fund applicants must meet all of the following criteria, as listed below. 


Please confirm your eligibility, you will be required to check off each criterion that applies to you:

  1. Canadian Citizen or Permanent Resident         󠄀
  2. Woman or non-binary entrepreneur residing in Ontario
  3. At least 19 years of age
  4. Starting a business  or  currently own a business  
  5. If the business is established, 50.1% of the company must be woman or non-binary owned; and maximum business revenues can be up to $2 million in gross annual revenues 
  6. Applicants will be required to provide past financials for your business up to current date.

**NOTE: non-profits are not eligible 

About the Business

Eligible businesses are those which are over 50% women-owned
  • A business plan, including cash flow forecasts for a minimum of two years is required for the business.
  • Maximum business revenues: up to $2 million in gross annual revenues

About the Loans

  • Loans are available to all industries/sectors
  • Maximum loan amount: up to $50,000
  • Loan type/length: term loans of up to 5 years
  • Maximum interest rate: up to prime + 4%
  • Maximum loan management fee: 1% or up to $500 per loan
  • Loans issued by WEOC to eligible borrowers are not grants, contributions or forgivable loans.

Please review the eligible and ineligible expenses for the Loan Fund, as provided below.

Eligible expenses include:

  • Capital assets (including machinery/equipment, leasehold/property improvements)
  • Office and equipment rental
  • Salaries and benefits (excluding owner's salary)
  • IT/Software license purchase
  • Professional services
  • Inventory/Supplies
  • Intellectual Property
  • Working Capital (e.g. payroll, lease payments, accounts management, rent, overhead costs)
  • Digital (including website/E-commerce development)
  • Marketing/advertising/business promotion
  • Employee training
  • Short term receivable financing (i.e. financing to service a contract)
  • Business start-up costs (legal fees, business )

Ineligible expenses include:

  • Capital expenditures on real property (e.g. land/building purchases)
  • Goodwill
  • Amortization Costs
  • Purchase of assets for more than fair market value
  • Owner's salary
  • Payment of bonuses
  • Refinancing existing debt
  • Purchase of stocks/shares
  • Franchise fees
  • Research and development
  • Management fees
  • Dividend payout
  • Increase to shareholder 

Please note that it is possible that some proposals are turned down by the lender.