Part 4: Funding

Okay, so you’ve got a great idea and you think you know exactly how you are going to do it. But wait, there’s a problem. You don’t have any cash!

Well, either did we and no one was all that interested in giving us any either. Unless you have collateral don’t go to the banks because they won’t give you anything unless the can take your house or car if you get behind on your payments. Unless you are starting a biotech firm or something that requires tons of research, it’s unlikely that you will receive any grants. And if you do, you will probably have to invest heavily first.

That being said, DO NOT get suckered into a website promising you all kinds of information on where and how to get grants and loans. These websites are designed to resemble government websites and if you have a partner they will even mention that you call back with the partner, making them sound more legitimate. Here is the link to one of them:


They wanted to charge my partner and me $600 for their “comprehensive package.” When I told them if they could just send me some info first, they said they could only send a one page description! I said fine, and you know what, I never got it!

They are only offering you information that is otherwise free if you just search for it. For instance, I received my funding from CYBF ( This is a not-for-profit organization meant for Canadians aged 18-32 and they offer free counselling and business plan help. The phony site I mentioned advertises help getting a CYBF loan. When I mentioned this to CYBF they had never heard of it! Don’t be fooled into giving away your hard earned money, if you have the time do the research yourself. Just because it pops up first in your Google search does not make it legitimate.

This is just in Canada, I’m sure there are plenty for every country out there offering grants and loans. If you live in Canada and you are 32 years or less contact CYBF, it will be worth your while.


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