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Igniting Prosperity: Celebrating Black Business Legacies in Our 2022/2023 Annual Report 

In the vibrant tapestry of Canadian entrepreneurship, our 2022/2023 Annual Report highlights our commitment to fostering Black business legacies, empowerment, resilience, and lasting impact. As we unveil the pages of the report, we’re pleased to share a narrative of triumph, growth, and the relentless pursuit of accelerating generational wealth within the Black community. 


Embarking on this journey, we’re not just showcasing statistics; we’re weaving together stories of entrepreneurs who, through the Black Entrepreneurship Loan Fund (BELF), are breaking barriers and laying the foundation for their Black wealth legacies. This report is a celebration of dreams realized, obstacles overcome, and the transformative power of economic empowerment. 


In the 2022/2023 fiscal year, FACE Coalition achieved significant milestones, further solidifying its commitment to empowering Black entrepreneurs across Canada. The amount of loans approved to black entrepreneurs reached an impressive $22,033,389, a substantial increase from the $15,184,951 approved in the previous fiscal year (2021/2022). The amount of loans disbursed in the year grew by 112% from $8, 138,081 to $17, 236,912.  

Thrilled by the regional impact of our initiatives, we celebrate substantial growth in approved loans across Western Canada (Alberta, British Columbia, Manitoba, and Saskatchewan), Quebec, and Ontario. Witnessing an 81% increase from $2.4M to $4.2M in Western Canada, a remarkable 107% surge from $4.1M to $8.5M in Quebec, and a solid 27% rise from $6.1M to $7.8M in Ontario. Furthermore, Western Canada saw disbursements rise from $0.9M to $2.5M (146%), Quebec experienced a surge from $2.4M to $7.4M (203%), and Ontario witnessed an increase from $3.3M to $5.7M (74%).  


At the end of our second year, FACE Coalition has disbursed $25.4M to 298 black entrepreneurs across Canada. This notable growth reflects the escalating trust and confidence in the loan fund and underscores the increasing recognition of the inherent value and potential within the Black entrepreneurial community. 

As we reflect on these achievements, it’s essential to delve into the heart of our mission—the “why” that fuels our work. FACE Coalition is more than an institution; it is committed to building generational wealth for Black Canadians. We believe that economic empowerment is a catalyst for transformative change in individual lives and entire communities. By providing access to funding, we empower Black entrepreneurs to realize their dreams, create thriving businesses, and, ultimately, contribute to the broader economic prosperity of the Black community. 

The synergy of increased loan approvals, augmented disbursements, and regional expansion aligns seamlessly with our mission to empower Black entrepreneurs and drive economic prosperity. As we look toward the future, we are fueled by the positive momentum generated in 2022/2023 and remain steadfast in our commitment to fostering a legacy of empowerment within the Black community. 

Curious to delve deeper into the meaningful strides we’ve made in empowering Black entrepreneurs across Canada? Uncover the transformative stories, success journeys, and the tangible impact of our loan programs by immersing yourself in our comprehensive 2022/2023 Annual Report. Your journey to understanding the heartbeat of our mission starts here. 


If you’re a Black entrepreneur ready to take your business to new heights, FACE Coalition is here to support you on your journey. Explore the possibilities, seize the opportunities, and join us in building generational wealth for the Black community. Apply for our loan program now and pave the way for a brighter, more prosperous future for your business. 

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Rob G.C. Sobey

Board Member

Rob G.C. Sobey is a corporate director. Mr. Sobey was the President & Chief Executive Officer of Lawton’s Drug Stores Limited from 2006 until his retirement in 2014 after 25 years with Sobeys. He serves as a director of SeaFort Capital and the Institute of Corporate Directors. Mr. Sobey is Chair of the Sobey Art Foundation, a member of the Queen’s Smith School of Business Advisory Board and serves on several foundation and not-for-profit boards. For his work as an Honorary Colonel of the Canadian Army, Mr. Sobey received a Queen Elizabeth II Diamond Jubilee Medal. He holds an undergraduate from Queen’s University, a Master of Business Administration from Babson College, and the ICD.D designation.

Denburk Reid

Board Member

Denburk Reid is the founder of Montreal Community Care Foundation (MCCF). Its mission is to empower youth by developing their leadership skills by using programs, workshops, and events, and by building bridges between communities. As the founder of MCCF, he beliefs that the youth hold the key to Montreal’s future and over the past eight (8) years, its programs have helped hundreds of Montreal youth stay on track, perform community services as well as set and achieve academic and life goals. The organization seeks to empower youth to become engaged citizens and leaders in their homes, schools, and communities. For the past five (5) years, MCCF celebrates and promotes community engagement across Montreal through the Montreal Community Cares Awards.

Along with his role as the founder of MCCF, Mr. Reid is the Founder of Red Rush Basketball & Red Rush Basketball Leadership. He has a passion for empowering youth and meeting them where they are lends to a successful outcome.

Abdikhier Ahmed​

Board Member

Mr. Ahmed is a recognized community leader in the non-profit sector with specializations in immigration and refugee resettlement, poverty reduction, and community empowerment. A dynamic, highly motivated individual with extensive experience in program development and delivery, providing strategic visioning and leadership. Over 10 years’ experience managing programs for non-profit organizations and working with communities and people from diverse socio-economic and cultural backgrounds both locally as well as internationally. Fluently multi-lingual: speaks and writes English, Swahili, Somali and basic Arabic. This experience help guide Mr. Ahmed when he was in the role of Director of Policy at the Office of Canada’s Minister of Families, Children and Social Development.

Mr. Ahmed is currently the Executive Director of Aurora Family Therapy Centre. Aurora is a progressive, non-profit family therapy centre that offers family therapy on a sliding scale; sees clients through services funded by Manitoba Department of Families and Department of Justice; provides community building groups for Newcomers to Canada; hosts a Psycho-Social Settlement Needs Assessment program for incoming refugees; provides summer youth programming for many newcomer communities; supports its own staff and other agencies through vicarious trauma and resilience programming; develops supportive relationships with community partners, and engages in advocacy for accessible community-based therapy services for all. Aurora is in the process of becoming a Centre of Excellence in providing cross cultural therapy from a systemic lens with a special focus on psychological trauma & recovery and community development.