The Ontario Catapult Microloan Fund for Social Ventures
Latest Loan Recipient: ZooShare
ZooShare is building a biogas plant at the Toronto Zoo to recycle manure and food waste into clean energy! Learn more about Catapult loan recipients
ELIGIBLE SOCIAL VENTURES
- Be Ontario-based
- Have fewer than 25 full-time employees
- Have annual revenues, but under $2 Million
- Be addressing a social, environmental, economic, or cultural challenge
- Be investment ready (see more details below)
Loans should be used for specific aspects of the business that will position it for growth. For example, past loan recipients have used the loans to hire more staff, purchase equipment or invest in manufacturing.
Please ensure that you meet the Ontario Catapult Microloan criteria found in the submission guidelines. You will be asked to provide information and documentation on the following:
- Business Plan
- Marketing Plan
- Financial Projections
- Social Impact
- Reason to Believe/Credibility
"The support from the community and microloan has given our team the confidence and cash flow to help us achieve our recent successes and helped build Peekapak's credibility in the market."
— Ami Shah, Peekapak, Catapult Recipient
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- Offers loans to social enterprises with existing revenues that require growth capital.
- Provides low interest loans (5% - 8%) of $5,000 - $25,000
- Up to a 5 year term.
- For members of CSI (you can still apply if you are not a member but you will need to become a member once you are approved), offering a range of supports.
- Undertakes a full impact assessment of the investments over a two-year period.
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WHY APPLY FOR A CATAPULT LOAN?
Reasons for taking out a loan will vary from person to person and will depend on where you are in your life/business cycle, legal structure and the types of activities you engage in. Here are some primary reasons people may want to pursue a loan:
- To bridge cash flow/funding gaps – when you know the money is coming, but you have expenses today.
- To invest in growth – maybe to expand operations, invest in new technology, purchase new equipment or inventory.
- To build credibility – taking a loan can help build credibility for further investment down the road.
- To get feedback – Even if you are not successful in your application, you will receive detailed feedback that may help you become investment ready at a later stage.
WHEN ARE YOU READY FOR A LOAN?
- You have a clear business plan.
- You are generating revenue.
- The loan will help you generate more revenue and increase profitability.
- You have the research and history to back this up.
When you apply to the Ontario Catapult microloan program, you can choose to be automatically considered for two other funding and support programs.
- Futurpreneur Canada loans of up to $15,000 for enterprises led by individuals under 39 years old.
- Youth Social Innovation Capital Fund financing of up to $25,000 for enterprises run by people aged 18-35.
The Ontario Catapult Microloan Fund is a partnership between the Centre for Social Innovation, the Province of Ontario, Alterna Savings, Microsoft Canada, TD Bank Group, KPMG, and Social Capital Partners and is designed to help promising social entrepreneurs and innovators with low interest loans of $5,000-$25,000.
CSI and an appointed review committee, comprised of CSI’s partners and independent experts will review applications on a monthly basis.
CATAPULT IS A COLLABORATION BETWEEN
The Toronto Tool Library raises money with CSI services
Loan recipient, 21 Toys, Named a leader of social change
Become a CSI Member