Success Stories

Alterna Savings’ Community Micro-Finance Program is designed to provide opportunity and hope for individuals who would not necessarily qualify for credit through financial institutions with more traditional lending practices.

In 2010, Alterna published a report featuring the findings of a study conducted by the Carleton Centre for Community Innovation in Ottawa.  This study revealed evidence that supported Alterna’s long-standing belief that micro-finance can help to strengthen communities.

Some of the revelations from the study include:

  • Participants of the Micro Finance Program at Alterna reported a reduced reliance on government income assistance. The proportion of individuals reliant on some form of government assistance fell from 42% to 21% after participating in the program
  • 95% of the businesses that received lending support from Alterna are still around today. 62% reported hiring 2-4 employees
  • Participants reported increased income which improved their quality of life with increased financial stability, the purchase of new assets, and better nutrition for their families. Before participation in this program, only 8% of borrowers owned a home - 27% owned a home at the time of the study!

Alterna strongly believes that with healthy and prosperous businesses comes healthy and prosperous communities – we demonstrate this long-held belief everyday through innovative and progressive programs such as the Micro-Finance Program.

Want to hear about micro-finance from those who know it best? 

Watch this short video!