Alterna Savings’ Community Microfinance – Social Impact Entrepreneurship Loan

Overview of the Alterna Savings’ Community Microfinance – Social Impact Entrepreneurship Loan program:

The Social Impact Entrepreneurship Loan is aimed at Canadian-for‑profit and nonprofit enterprises within Alterna Savings’ Ontario service area that apply entrepreneurial approaches to social or environmental causes. Loans of $1,000–$25,000 support mission-aligned ventures with tailored support to develop sustainable and impactful businesses. Designed for social-minded entrepreneurs, the program emphasizes impact alongside financial viability and provides coaching and flexible repayment terms to help build social enterprises that address community needs.

Benefits of the Alterna Savings’ Community Microfinance – Social Impact Entrepreneurship Loan program:

• This loan offers mission-driven ventures flexible access to up to $25,000 in capital at transparent, affordable terms. It empowers social entrepreneursboth for-profit and nonprofitto scale ventures addressing community or environmental goals. Borrowers receive wraparound support including business coaching and credit-building. The financing enables growth and impact without reliance on traditional equity or grant-based funding models.

Eligibility criteria of the Alterna Savings’ Community Microfinance – Social Impact Entrepreneurship Loan program:

• Must be a legal resident of Canada, age 18 or older
• Live and operate within Alternas Ontario service area
• Provide: business summary, cash flow projection, bank statements (six months), photo ID
• Complete an interview with Alternas Community Microfinance team
• For-profit social enterprises must be generating revenue
• Nonprofits or coops require sponsorship from an organization if not incorporated, and a board motion supporting application