Alterna Savings’ Community Microfinance – Skilled Professionals & Trades Loan

Overview of the Alterna Savings’ Community Microfinance – Skilled Professionals & Trades Loan program:

The Skilled Professionals & Trades Loan offers loans from $1,000 to $15,000 to support individuals entering self‑employment in skilled trades or professional services. Designed for entrepreneurs earning up to CAD 50,000 per year, the funding helps purchase tools, equipment, or cover marketing/operational expenses. Alongside capital, borrowers benefit from financial coaching and credit-building services. The program is tailored to underserved communities and operates exclusively within Alterna’s Ontario service area, providing accessible support with manageable repayment over a multi-year term.

Benefits of the Alterna Savings’ Community Microfinance – Skilled Professionals & Trades Loan program:

• This loan enables skilled professionals and tradespeople to access up to $15,000 in funding to purchase essential tools, equipment, or marketing resources needed for self-employment. Borrowers receive financial coaching, peer support, and credit-building advicetailored for those earning under $50,000 annually. The program offers transparent terms and a three-year repayment schedule, removing barriers for underserved individuals entering the skilled trades or service professions.

Eligibility criteria of the Alterna Savings’ Community Microfinance – Skilled Professionals & Trades Loan program:

• Must be a legal resident of Canada, age 18 or older
• Live and operate within Alternas Ontario service area
• Operating or entering selfemployment in a skilled trade or professional service, with income or assets under $50,000/year
• Provide: business summary, cash flow projection, bank statements (six months), photo ID
• Complete an interview with Alternas Community Microfinance team
• Note: Not currently eligible if earning above CAD 50,000 or outside Ontario