- 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 component will be in the form of Term Loans and or Lines of Credit (LOC must be secured) and competitive interest rates will be set according to Alterna’s lending policies
- Learn about how non-profit social enterprises can access and confidently manage debt financing
Interested organizations must:
- Be an incorporated non-profit social enterprise that demonstrates job creation potential, particularly for people who are socially marginalized
- Be in operation (ie. making sales of goods and/or services) for at least one year
- Have identified a solid business opportunity
- Be located and operating in the Greater Toronto-Hamilton area
- Attend a mandatory information session
- Meet for at least one hour with TEF staff to review your business opportunity
- Submit a business plan as part of the application process
- Attend a mandatory information session. Sessions will be held once regularly. See below for upcoming date and link to registration.
- Read, complete and submit all documents outlined in the Application Checklist. A complete application will include:
- Applications will be reviewed and approved by a review committee
- Approved applications will proceed through Alterna’s standard loan approval process
- Final approval decisions will be communicated within 4 weeks from the application due date (assuming all necessary documents are provided and no further clarifications are required from the applicant)
- Application due dates are quarterly. The next deadline is April 11, 2017, following the March 22 information session.
Upcoming Information Sessions
- Stay tuned. We schedule sessions approximately every two months.
Registration will open as soon as the next date is selected.