Qualified low-income individuals can access loans of up to $5,000 to support the startup or growth of their full or part-time business.

To qualify, you must:

Be a legal resident of Canada
Be at least 18 years old
Work and live in Alterna’s service area
Operate a legal, seasonal, full time or part-time business
Entering self-employment with income or assets under $30,000

You will need:

To meet with a representative from our Microfinance Team for an interview
To provide a business summary or business plan
12 months projected cash flow
Proof of personal income
Six months of bank statements
Photo identification

This program is ideal for new Canadians and individuals transitioning to the workforce who don’t qualify for traditional financing. Through the program qualified borrowers can access loans from $500 to $5,000 to help them in the pursuit of professional development education or credentials.

To qualify as For-Profit Social Entrepreneur, you must:
• Be a legal resident of Canada
• Be at least 18 years old
• Work and live in Alterna’s service area
• Operate a legal, seasonal, full time or part-time business
• Be generating revenue

For Non-Profit and Co-operative Organizations:
• Operate in Alterna’s service area
• Provide sponsor support from an organization when the parent organization or social enterprise is not incorporated. The sponsoring organization will be required to make the loan on their behalf
• A letter stating motion from Board of Directors endorsing application for funding

You will need:
• To meet with staff from our Microfinance Team for an interview
• A well-documented business plan with 24 months of projected cash flow
• Business registration documents
• Minimum of two business and personal references
• Photo identification

Once approved, you will:
• Pay a competitive interest rate ranging from Prime + 2% to Prime + 6%*
• Conduct your business’s financial activities with Alterna Savings
• Be required to pay a nominal administration fee

Through the program qualified borrowers can access loans from $1,000 to $15,000 to help them start on the right foot in their profession or trade.

To qualify, you must:
• Be a legal resident of Canada
• Be at least 18 years old
• Work and live in Alterna’s service area
• Operate a legal, seasonal, full time or part-time business
• Entering self-employment with an income of $50,000 or under

You will need:
• To meet with staff from our Microfinance Team for an interview
• To provide a business summary or business plan
• 12-24 months projected cash flow
• Photo identification

Once approved, you will:
• Pay a competitive interest rate ranging from Prime + 2% to Prime + 6%*
• Conduct your business’s financial activities with Alterna Savings
• Be required to pay a nominal administration fee

Through the program qualified for- profit and non-profit enterprises can access loans from $1,000 to $25,000 to support the startup or growth of their social enterprise.

To qualify as For-Profit Social Entrepreneur, you must:
• Be a legal resident of Canada
• Be at least 18 years old
• Work and live in Alterna’s service area
• Operate a legal, seasonal, full time or part-time business
• Be generating revenue

For Non-Profit and Co-operative Organizations:
• Operate in Alterna’s service area
• Provide sponsor support from an organization when the parent organization or social enterprise is not incorporated. The sponsoring organization will be required to make the loan on their behalf
• A letter stating motion from Board of Directors endorsing application for funding

You will need:
• To meet with staff from our Microfinance Team for an interview
• A well-documented business plan with 24 months of projected cash flow
• Business registration documents
• Minimum of two business and personal references
• Photo identification

Once approved, you will:
• Pay a competitive interest rate ranging from Prime + 2% to Prime + 6%*
• Conduct your business’s financial activities with Alterna Savings
• Be required to pay a nominal administration fee

Through the program qualified borrowers can access loans from $1,000 to $25,000 to support the startup or growth of their full or part-time business.

To qualify, you must:
• Be a legal resident of Canada
• Be at least 18 years old
• Work and live in Alterna’s service area
• Operate a legal, seasonal, full time or part-time business
• Be self-employed with minimal income
• Have 51% ownership as a women-owned business
• Be generating revenue
• Income under $50,000

You will need:
• To meet with staff from our Microfinance Team for an interview
• A well-documented business plan with 24 months of projected cash flow
• Business registration documents
• Minimum of two business and personal references
• Photo identification

Once approved, you will:
• Pay a competitive interest rate ranging from Prime + 2% to Prime + 6%*
• Conduct your business’s financial activities with Alterna Savings
• Be required to pay a nominal administration fee

Jason Baerg

Indigenous artist Jason Baerg credits his work with Alterna’s Community Microfinancing Program with helping him to get where he is today.

Sergio Navarretta & Alessandra Piccione

Sergio Navarretta and Alessandra Piccione, co-founders of SNAP Films Inc. work together as a director and screenwriter to create meaningful stories for both the big and small screen.

Sipho Ibeakanma

Sipho Ibeakanma was inspired to open her business, The Niesh Hair Scarf Wig, after her daughter Cleopatrah and granddaughter Niesha tied a beautiful scarf around her wig in August 2018.