Montreal, June 1st 2021. Femmessor announced today a brand new funding envelope of $52.5 million to support inclusive owned businesses that leave a positive impact on society. The announcement was made this morning by Sévrine Labelle, President and CEO of Femmessor, accompanied by the Minister of Economy and Innovation, Pierre Fitzgibbon, as part of a press conference held on the sidelines of Femmessor's Entrepreneurial Web Event.
Thanks to partnerships with the Government of Quebec, through its trustee Investissement Québec, National Bank, Business Development Bank of Canada (BDC), Fonds de solidarité FTQ, and Fondaction, Femmessor will facilitate access to over $52.5 million to support, through conventional loans, inclusive and diversified owned businesses generating positive social and environmental impacts aligned with the UN Sustainable Development Goals (SDGs).
“Involved in the development of women entrepreneurship for over 25 years, Femmessor pursues its ambition to transform the economy to enable it to be more inclusive, equal and sustainable. We are honored by the renewed confidence from the Government of Quebec and all the partners. It is with commitment and conviction that we will pursue our mission and put our expertise to the benefit of the entrepreneurs who are still under-represented in the entrepreneurial ecosystem, but who have all the potential to create a positive impact in our society” mentions Sévrine Labelle, President and CEO of Femmessor.
Indeed Femmessor, which works in the 17 regions of Quebec, will henceforth use its expertise in supported financing for the benefit of all entrepreneurs in search of equity, namely women entrepreneurs, racialized entrepreneurs, immigrant entrepreneurs, First Nations or Inuit entrepreneurs, entrepreneurs living with a disability as well as entrepreneurs from the LGBTQ2 + community.
“With this support, the new clients identified by Femmessor will have the opportunity to develop their full potential and actively participate in the economic recovery, leading to a truer reflection of our society. I am honored to lend my voice to an organization that has proven over time the priceless value of its contribution to entrepreneurial success. As a businesswoman and an immigrant, I am delighted to contribute to the development of a mission close to my heart and to collaborate with a team that has reinvented itself to make a positive difference in our communities” mentions Danièle Henkel, new spokesperson for Femmessor.
Femmessor is an organization financially supported by the Ministry of Economy and Innovation (MEI) and by the Government of Canada as part of the Women Entrepreneurship Strategy. It is dedicated to the development of inclusive entrepreneurship and its mission is to directly contribute to the creation, growth, and acquisition of businesses that leave a positive impact on society.
Since its first public funding in 2001, Femmessor has granted $31 million to 1,200 women owned businesses, which generated $185 million in investment benefits and helped create and maintain 6,035 jobs. Over the years, 75,000 women entrepreneurs have been reached through Femmessor's actions.
Quote Investissement Québec
"Investissement Québec is proud to partner-up with Femmessor to promote diversity as well as access to capitals for the growth of women owned or managed businesses across Quebec. Women entrepreneurs must have access to financing as well as support to take their rightful place in the Quebec economy.”–Guy LeBlanc, President and CEO, Investissement Québec.
Quote National Bank
“At National Bank, inclusion and diversity are fundamental values that guide our actions. We are proud to contribute to this brand new funding envelope and join our efforts to Femmessor’s to ensure a more inclusive and sustainable economic recovery.”–Geneviève Turbide-Potvin, Vice-President, Businesses - Transactional Solutions and Financing, National Bank.
Quote BDC
“Diversity and inclusion are integral elements of our business strategy and core values of our organization. Over the years, we have put in place several initiatives to better support under-represented entrepreneurs in our economy. This is why we are very happy to contribute to this investment envelope and to renew our collaboration with Femmessor.”–Chantal Rémy, Senior Vice-President, Quebec and Atlantic and Consulting Services, BDC.
Quote Fonds de solidarité FTQ
“Whether it is to get through the pandemic, fight climate change or help companies with their technological shift, the challenges are numerous, but so are the opportunities. We need everyone for the recovery. This is why I am proud that Fonds de solidarité FTQ is supporting Femmessor, which is broadening its scope to support more inclusive owned businesses that leave a positive impact on society. Congratulations to Sévrine Labelle and the entire Femmessor team for their boldness and perseverance which made this initiative possible!" –Janie C. Béïque, President and CEO, Fonds de solidarité FTQ.
Quote Fondaction
"Fondaction is proud to have been supporting Femmessor for the last 20 years and to contribute to the assertion of women entrepreneurship. The pandemic has shown even more acutely that the opportunities are not equal for everyone. We should applaud the new resources made available to Femmessor and the broadening of its mission, which will enable the organization to participate in a greater way towards the development of a more inclusive economy.”–Geneviève Morin, President and CEO, Fondaction.
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