The Ontario Catapult Microloan Fund for Social Ventures
"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
ELIGIBLE SOCIAL VENTURES
- Be Ontario-based
- 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
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
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WHAT IS THE ONTARIO CATAPULT MICROLOAN FUND?
- Makes investments in social ventures (nonprofit and for-profit) that are tenants or Community Members of CSI
- Provides low interest loans of $5,000 - $25,000
- Provides a range of support to enable the social ventures succeed
- Undertakes a full impact assessment of the investments over a 2-year period
When you apply to the Ontario Catapult microloan program, you can choose to be automatically considered for six other funding and support programs.
- Futurpreneur Canada loans of up to $15,000 for enterprises led by individuals under 39 years old.
- Pioneer+TO grant of $7,500 for one nonprofit social enterprise.
- Ignite Capital award of $20,000 for an enterprise lead by someone with a credit score under 620.
- A place in the York Entrepreneurship Development Institute Incubator, a 12-week program at Schulich starting in September.
- tailoredUX Design Co-Founder program that provides service grants to startups needing help with product design and development.
- Youth Social Innovation Capital Fund financing of up to $25,000 for enterprises run by people aged 18-35.
In addition, CSI members who receive a Catapult loan are eligible for a matching in-kind service grant from tailoredUX as part of their DC Program. tailoredUX works with startups to build their businesses through product strategy, UX & Design.
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