Leverage Grants to Build Your Non-Profit Social Enterprise!

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Date: 
15 November, 2016

Leverage Grants4:00pm to 6:00pm
United Way Toronto & York Region
26 Wellington Street East

The Mixed Capital Opportunities Fund (Mixed Cap) will support the expansion of early stage, high growth non-profit social enterprises by providing a hybrid form of capital, comprised of a combined loan (50%) and grant (50%). This innovative collaboration between the Toronto Enterprise Fund (TEF) and Alterna Savings will make debt financing more accessible to social enterprises. Mixed Cap is funded by the Province of Ontario and United Way Toronto (through a gift from the Polar Foundation), with all loan financing coming from Alterna Savings.

Are you an established Social Enterprise with a new business opportunity or plans for expansion?

Then TEF has a great financing option to fund your idea. The Mixed Cap aims to support Social Enterprises that are using innovative approaches to address social, environmental, economic or cultural changes.

Register for Leverage Grants to Build Your Non-Profit Social Enterprise!

Features:

  • Enterprises will be able to apply for between $10,000 and $30,000 in total investment (split equally between a loan and a grant).
  • In exceptional cases, up to $50,000 may be approved; security/collateral may be required in these instances.
  • The loan portion will be in the form ofTerm Loans and or Lines of Credit (LOC must be secured) and competitive interest rates will be set according to Alterna's lending policies.

Selection Criteria:

  • The identification of a solid business opportunity. If the ask is for staffing up, stocking up or purchasing capital equipment, then it has to be directly related to the business opportunity.
  • Beowned and operated by incorporated non-profit organizations.
  • Located and operating in the Greater Toronto-Hamilton area.
  • Demonstrate job creation potential, particularly for minorities & disadvantaged groups.

Application Process:

  • Attend a training/information workshop. The workshops are mandatory and they will be held once every two months. See below for upcoming dates and link to registration.
  • Read through the checklist and submit all necessary documents. Acomplete application should include:
  • A review committee will first approve the application and it will then proceed through Alterna's standard loan approval process.
  • Once an application is submitted, the final decision will be given in 4 weeks from the due date (assuming all necessary documents are provided and no further clarifications are required from the applicant)

Application due dates are quarterly; the next one will be in November/December. Please check back soon for the exact date.

Next Workshops: Tuesday, January 17, 2017, 2:00-4:00 pm, location tbd, likely outside the downtown core

For further information, please contact Alexis at alexis at kanespeer.com

Region: 
Location: 
Toronto Enterprise Fund
Toronto  Ontario
Canada
Categories: 
Finance
Social Economy & Social Enterprise