Alterna Savings

The Alterna Savings Community Micro-Finance Program entitles qualified borrowers to loans ranging from $1,000 to $15,000. Consider the Community Micro-Finance Program for your source of business financing.

To qualify, you must:

  • be a legal resident of Canada 
  • be at least 19 years old
  • work and live in an Alterna Savings service area
  • operate a legal, full- or part-time business, including seasonal 
  • be a self-employed individual with minimal income

Please note that preference will be given to those who have graduated from a recognized business training program.

You will need:

  • an interview with a Community Micro-Finance Coordinator to complete a loan application 
  • a well-documented business plan with a 12-month projected cash flow 
  • business registration documents 
  • a minimum of two business and personal references 
  • photo identification

Once approved, you will:

  • pay a competitive interest rate of Alterna Prime plus six percent* 
  • conduct your business’s financial activities at Alterna Savings 
  • be required to pay an administration fee, which is based on the total value of the loan

If you have questions regarding our Micro-Finance program, or how to get involved, please contact:

Susan Henry
Manager Corporate Social Responsibility
416.252.5625 ext.7617