Alterna Savings’ Community Microfinance — Income Builder Loan

Overview of the Alterna Savings’ Community Microfinance — Income Builder Loan program:

The Income Builder Loan provides individuals with limited income (under $30,000/year) access to small loans ($1,000–$5,000) to support self-employment efforts. Recipients receive not only capital but also financial education, credit-building support, and coaching. The loan aims to bridge the income gap and enable opportunities for sustainable business activity within underserved communities in Alterna’s service areas. Repayment occurs over three years at a transparent, low interest rate.

Benefits of the Alterna Savings’ Community Microfinance — Income Builder Loan program:

• The Income Builder Loan helps low-income individuals transition into self-employment by providing essential microcapital ($1,000$5,000) along with wraparound support including financial education, planning consultation, and credit-building resources. It offers transparent termsno hidden fees, fixed interest and low admin costand supports long-term financial resilience and business sustainability.

Eligibility criteria of the Alterna Savings’ Community Microfinance — Income Builder Loan program:

• Must be a legal resident of Canada, age 18 or older
• Live and operate within Alternas Ontario service area
• Earn personal income or assets under $30,000 per year
• Intending to start or grow a self-employment business (part or full time)
• Complete an interview with Alternas Microfinance team
• Provide: business summary/plan, 12-month cash flow forecast, proof of income, six months of bank statements, photo ID