The Ontario Catapult Microloan Fund for Social Ventures
Perhaps you've heard something through the grapevine about a Catapult at the Centre for Social Innovation...
No, we're not building an expensive launching device. We are, however, opening up the second round of the Ontario Catapult Microloan Fund!
This social finance initiative between CSI, the Province of Ontario, Alterna Savings, Microsoft Canada, TD Bank Group, KPMG, and Social Capital Partners has been designed to help promising early stage entrepreneurs and innovators with low interest loans of $5,000-$25,000.
The next round of applications is open from November 20, 2013 to January 3, 2014. Loans will be disbursed on February 12, 2014.
Applying for a Catapult Microloan
Please be sure you meet the criteria listed below. If you meet the basic criteria, please see the Submission Guidelines. You will be asked to provide information and documentation on a business plan, marketing plan, financial plan, social impact, credibility, and innovation. Come to an info session Tues, Nov. 26 , 9:00-9:30am, CSI Annex, 720 Bathurst St.
Give me the details!
This exciting collaboration brings government, business, and nonprofits together to support intrepid changemakers working across sectors in farming to finance and everything in between.
The Ontario Catapult Microloan Fund enables social entrepreneurs and innovators to turn their ideas into world-changing impact by supporting promising early stage social ventures with access to capital and CSI’s existing programming and services.
The Ontario Catapult Microloan Fund will:
- Make between 15 and 25 investments in early stage social enterprises (nonprofit and for-profit) that are tenants or Community Members of CSI
- Provide low interest loans of $5,000 - $25,000 to eligible social ventures
- Provide a range of support to enable the social ventures to succeed
- Undertake a full impact assessment of the investments over a 2-year process
To be eligible, the social venture must:
- Be an Ontario-based social venture
- Be a member of the Centre for Social Innovation, but not necessarily a tenant of CSI (see Community Membership)
- Have fewer than 25 full-time employees
- Have annual revenue under $2 Million
- Be addressing a social, environmental, economic, or cultural challenge
CSI and an appointed review committee comprised of CSI’s partners and independent experts administer the Ontario Catapult Microloan Fund. Although the review committee holds the final decision, CSI community members, mentors, and issue experts are engaged as a part of the process to help make the most informed decisions. Everyone involved looks for the following key success factors:
- Business Plan
- Marketing Plan
- Financial Projections
- Social Impact
- Reason to Believe /Credibility
For more Information:
- Read the Submission Guidelines
- Sign up to the Catapult mailing list for important updates
- Meet the round one Catapult loan recipients!
- Read Catapult's nomination for the Social Finance Award!
Catapult is a collaboration between:
The Centre for Social Innovation is a coworking space, community, and launchpad for people who are changing the world, with three locations in Toronto and a location in New York City. We provide our members with the tools they need to accelerate their success and amplify their impact. Together, we’re building a movement of nonprofits, for-profits, entrepreneurs, artists, and activists working across sectors from farming to finance and everything in between. We’re catalyzing new ideas for a better world.
|2014 Catapult Microloan Submission Guidelines.pdf||441.38 KB|