With regard to the Black Entrepreneurship Loan Fund, since its inception: (a) why was the second phase of the program, which included a joint $128-million fund from Canadian financial institutions, dropped from the program’s total loan fund; (b) what efforts did the government make to ensure that financial institutions fulfilled their portion of the initial $291.3 million investment; (c) how many applications submitted (i) received full funding, (ii) received partial funding, (iii) were denied funding; and (d) how many entrepreneurs were expected to receive funding as part of the second phase of the fund?
In the House of Commons on May 31st, 2022. See this statement in context.