Financing for co-operatives
Canadian co-operatives should be able to access the right financing opportunities to help them achieve their projects and to support their local community. Co-operatives and Mutuals Canada (CMC) works tirelessly to defend the interest of Canadian co-operatives and to increase their accessibility to diverse financing programs.
CMC encourages you to contact your local credit union or caisse by searching the Canadian Credit Union Association (CCUA) and the Desjardins Group lists.
Organizations that provide Financing for Co-operatives
If your organization can provide funding to co-operatives through grants or investments, we encourage you to complete this short form to be included in the CMC list below.
Loans and Grants from the Federal Government
GRANT AND FUNDING PORTAL
Looking for governmental funding opportunities? We invite you to consult the Grants and Funding Portal from the Government of Canada. Note that when the criteria specify “for-profit” or “non-profit”, the federal government classifies co-operatives that give patronage dividends to members as “for-profit”. You will be able to find funding aligned with your industry and your objectives. If you struggle accessing the funding programs, please contact Daniel P. Brunette, Senior Director, External Affairs.
CANADA SUMMER JOBS
Canada Summer Jobs (CSJ) from the Government of Canada provides wage subsidies to employers to create quality summer work experiences for young people aged 15 to 30 years.
Grants for Co-operatives
CO-OPERATIVE DEVELOPMENT PROGRAM (CDP)
This program brings together grants dedicated to emerging and expanding co-operatives offered by Co-operators, a CMC member, and a leading Canadian financial services co-operative.
FOUNDATION FOR THE DEVELOPMENT OF CO-OPERATIVES IN THE OUTAOUAIS
The Fondation is first and foremost an endowment whose mission is to promote and support the development of a co-operative economy. It provides financial support for initiatives in the Outaouais region. Members of the Fondation are primarily Outaouais co-operatives that contribute to the endowment. Individuals can also become members by contributing to the endowment.
Loans and Investments Funds for Co-operatives
THE CANADIAN CO-OPERATIVE INVESTMENT FUND (CCIF)
Established by CMC, the Canadian Co-operative Investment Fund (CCIF) bridges the gap faced by co-operatives and mutuals; the difficulty of accessing capital without having to compromise autonomy. CCIF is a $25 million alternative financing source that provides loans, equity, and quasi-equity to co-operatives across Canada.
VERGE Capital
VERGE Capital supports local economies and communities across Southwestern Ontario by investing in social enterprises that put people and planet first. Co-operatives from Ontario are welcome to apply for a loan.
THRIVE IMPACT FUND
Thrive Impact Fund invests in non-profits, co-operatives and for-profit social enterprises in and to the benefit of BC communities. Thrive provides flexible debt financing in the form of bridge financing, term loans and revenue based financing, between $50,000- $500,000. Organizations must be able to demonstrate at least one year of commercial revenue or an acquisition of an asset. Thrive also offers peer group and quarterly check-in support.
THE WOMEN’S ENTERPRISE ORGANIZATIONS OF CANADA NATIONAL LOAN PROGRAM (WEOC)
The Women’s Enterprise Organizations of Canada National Loan Program is designed to support women-owned start-ups and majority women-owned companies in expansion. The loan is up to $50,000, requires no collateral, and is independent of the applicant’s credit rating.
In Ontario, the program is supported by PARO, a non-profit organisation that supports women entrepreneurs and business owners, by offering business counselling, training, programs to help businesses scale and export. It also provides business planning support for the Women’s Enterprise Organizations of Canada (WEOC) National Loan Program.
Some co-operatives may be eligible to apply for this loan. Each case will be evaluated independently.
For more information please contact Lead Regional Coordinator Renée Gendron parobizeast@paro.ca in you are in Ontario and if not, click down below.
COMMUNITY FORWARD FUND
The Community Forward Fund is a fund that provides innovative financing to community organizations across Canada. The Fund provides loans to non-profit organizations and social enterprises to enable them to deliver long-term community benefits.
FAIR FINANCE FUND
Fair Finance Fund is a not-for-profit social finance fund. It provides loans and mentoring services to agricultural and food businesses that value local food, community prosperity and the health of the planet.
CAISSE D'ÉCONOMIE SOLIDAIRE
The Caisse d’économie solidaire is Quebec’s leading financial cooperative specializing in the social economy and responsible investment (RI). It has nearly 22,000 members. With its members’ savings, the Caisse invests $993 million in loans to Quebec cooperatives and NPOs. It has over $2 billion in assets. Its specialized expertise is recognized throughout the Desjardins Group.
OREC
OREC is a co-operative that develops local renewable energy projects in Ontario communities. We pool member resources to invest in wind, solar, and energy efficiency projects towards the goal of full sustainability.
RÉSEAU D'INVESTISSEMENT SOCIAL DU QUÉBEC (RISQ)
The Réseau d’investissement social du Québec (RISQ) provides loans especially tailored for social economy enterprises that provide financially viable and socially profitable goods and services.
NEW MARKET FUNDS
New Market Funds is a multi-fund manager that delivers investment opportunities with financial returns and lasting community benefit.
NEW COMMON DEVELOPMENT FUND
The New Commons Development Fund invests in affordable housing and community real estate assets from early-stage through to stabilization. We work with strong partners to create long-term community benefit. We draw on decades of experience to structure investment opportunities that are customized to our investors’ needs. Our investments generate risk-adjusted market-rate returns.
COMMUNITY CAPITAL SOLUTIONS CO-OP (CCSC)
Discover Community Capital Solutions Co-op (CCSC), a real-world solution designed to address the economic challenges faced by communities across Western Canada. CCSC provides customized professional support, financial tools, and consulting services, empowering local leaders and residents to pool resources, make informed investment decisions, and take control of their economic future.
CO-OPERATORS COMMUNITY FUNDS
The Co-operators Community Fund supports projects that promote job creation or employability for young people (aged 16-34) in precarious situations and people with mental health problems.
TENACITY WORKS FUND
This revolving credit fund enables FCCT to invest in worker and solidarity cooperatives across Canada.
FIDUCIE DU CHANTIER DE L'ÉCONOMIE SOCIALE
The Fiducie du Chantier de l’économie sociale a creator and administrator of innovative financial products, the Chantier de l’économie sociale Trust is a dedicated partner in Québec’s development of social economy enterprises.
Working for collective enterprises, the Trust invests in their projects thanks to its distinctive patient capital financial tools, developed with support from investors.
Co-operatives that received Social Financing
You would like to learn more about other co-operatives that have received social financing or impact financing? Check out our list and read some of their success stories!