PARO Centre for Women's Enterprise- Lending Circles

Overview of the PARO Centre for Women's Enterprise- Lending Circles program:

The PARO Circles Program is an initiative offered by PARO Centre for Women’s Enterprise designed to support women entrepreneurs in Northern Ontario. The program is based on a peer lending model, where small groups of women entrepreneurs—called PARO Circles—come together to support each other’s business ventures. PARO Circles provide members with access to microloans, business training, networking opportunities, and peer support, helping them overcome challenges and achieve business success. This innovative program empowers women to build and grow their businesses while fostering a sense of community and collaboration.

Benefits of the PARO Centre for Women's Enterprise- Lending Circles program:

• Access to Microloans: Members of PARO Circles can access microloans of up to $5,000, which can be used to start or expand their businesses. These loans are designed to provide flexible and accessible financing options for women who may face challenges in securing traditional funding.
• Peer Support and Mentorship: The program fosters a supportive environment where members can share experiences, challenges, and successes. This peer-to-peer mentorship is invaluable for gaining insights, building confidence, and making informed business decisions.
• Business Training and Resources: PARO Circles members have access to a range of business training programs, workshops, and resources that help them develop essential skills in areas such as financial management, marketing, and business planning.
• Networking Opportunities: Being part of a PARO Circle provides opportunities to network with other women entrepreneurs, expand business contacts, and explore potential collaborations. This network can be instrumental in opening doors to new markets and opportunities.
• Empowerment and Community: The program empowers women by providing them with the tools, resources, and support needed to succeed in their entrepreneurial journeys. It also builds a strong sense of community among women entrepreneurs, fostering collaboration and mutual growth.

Eligibility criteria of the PARO Centre for Women's Enterprise- Lending Circles program:

• Women Entrepreneurs: The program is open to women entrepreneurs who are either starting a new business or looking to grow an existing one.
• Business Location: Applicants must be based in Northern Ontario, as the program is focused on supporting women in this region.
• Commitment to Peer Support: Participants must be willing to actively engage in the peer support model, including regular meetings with their PARO Circle, providing feedback, and supporting fellow members.
• Financial Need: The program is particularly aimed at women who may face barriers to accessing traditional financing options. Demonstrating a need for financial support and a clear plan for using the microloan is important.