The recently launched Community Finance Solutions is now accepting applications for expert advisory support in the development of the following types of new impact investing funds and products:
- Creation of an investment fund focusing on First Nations communities, affordable housing, sustainable food and water, or renewable energy;
- Development of a community loan fund for local businesses;
- Creation of a blended philanthropic and investment fund to finance projects with a social mission;
- Issuance of a community bond to finance an infrastructure project
- A variety of other impact investing funds and products that meet our established criteria
Community Finance Solutions was launched nation-wide on March 6th via webinar. The webinar launch featured presentations from CCEDNet member Marguerite Mendell, who described how the Fiducie du Chantier de l'économie sociale in Québec was created, and Jane Bisbee, who shared how the Social Enterprise Fund in Alberta was developed. Common themes identified in the presentations about these two loan funds include:
- The development of these funds responded to identified community needs.
- The importance of early investment by the Quebec government, the City of Edmonton and the Edmonton Community Foundation in establishing the capital pool.
- Both funds rely on a healthy business/social enterprise development ecosystem to help enterprises get to a stage of investment readiness. This ensures that the funds receive a steady stream of loan applicants.
- Setting up impact investment funds takes time and money. Extensive community consultation and research into global experience will aid successful development.
Community Finance Solutions is a national initiative of the MaRS Centre for Impact Investing