BMO Commits $78 Million to Lending to Black-Owned Businesses
Photographer: Brent Lewin/Bloomberg
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Bank of Montreal said it committed C$100 million ($78 million) to financing Black-owned businesses.
Black business owners and entrepreneurs can receive loans of as much as C$250,000 through the program, called “Business Within Reach: BMO for Black Entrepreneurs,” the Toronto-based lender said in a statement Monday. The bank also is partnering with the Black Opportunity Fund to provide education in areas including planning, financial management and marketing.