VERGE Startup Fund

Overview of the VERGE Startup Fund program:

VERGE Startup Fund focuses on early-stage social enterprises in Southwestern Ontario.Their loans range from $10,000 to $100,000 for startups or small businesses, with an interest rate of prime + 2% with flexible terms up to five years. There is no application fee, no penalties for early repayment, and no excessive collateral or personal guarantees required.

Benefits of the VERGE Startup Fund program:

• Loans: $10,000 - $100,000 at prime + 2%, with flexible terms up to five years and no penalties for early repayment

Eligibility criteria of the VERGE Startup Fund program:

• To qualify for this program:
  • Open to those over the age of majority without limitations around industry sector, stage of growth, or whether you are structured as a for-profit business or non-profit organization
  • Must be a social enterprise
  • Work must align with VERGE investment priorities
  • Social enterprise must have contribution and commitment to local communities and economies in Southwestern Ontario