Co-operators Community Funds – Co-op Impact Program

Overview of the Co-operators Community Funds – Co-op Impact Program program:

Launched in response to the challenges posed by the COVID-19 pandemic, the Co-op Impact Program aims to assist small and medium-sized co-operatives in adapting their operations to meet emerging needs. The program provides low-interest loans ranging from $40,000 to $100,000 to support new or existing projects that enhance the resilience and sustainability of co-operatives. The funding is intended to complement existing credit union and other financing sources, enabling co-operatives to innovate and continue serving their members and communities effectively.

Benefits of the Co-operators Community Funds – Co-op Impact Program program:

• Financial Support: Access to low-interest loans to fund projects that enhance co-operative resilience and adaptability.
• Complementary Financing: Loans are designed to work alongside existing credit union and other financing sources.
• Focus on Impact: Support for projects that create positive social, economic, or environmental outcomes.

Eligibility criteria of the Co-operators Community Funds – Co-op Impact Program program:

• To be eligible for the Co-op Impact Program, applicants must:
• Be a registered co-operative in Canada.
• Classify as a small (1-99 employees) or medium (100-499 employees) enterprise.
• Be adapting an existing project, creating a new project due to COVID-19, or changing the business plan to address pandemic impacts.
• Seek a loan between $40,000 and $100,000 at a 3% interest rate.
• Demonstrate that the co-operative and project are generating positive social, economic, or environmental impacts.