Update and First Impacts from the Fair Finance Fund
Posted: September 30, 2019
Categories: Funding Opportunities / GoodFoodBites
The Fair Finance Fund continues to accept loan applications on a revolving basis as long as funds are available. The investment campaign is also ongoing to May 2020, with interest rates from 2-4% until then.
The Fair Finance Fund was launched as a pilot in November 2018, and as a fully operational revolving loan fund in April 2019. Since launch, the team has issued loans to entrepreneurs in the local food and farm sector and raised money through grants and community bonds.
The Fund is committed to making a difference through more resilient food systems, climate adaptation and resilience in Ontario’s food systems, and by creating a place for people and foundations to invest in their beliefs.
The Fair Finance Fund’s first six months:
- $145,377 in loans issued so far
- Assets Under Management currently: $675,377 with another $200,000 in the pipeline
- Targets: 10-15 loans annually
- $850,000 additional revenues in Ontario’s economy
- $4 impact for every dollar invested
- 1 new job per $20,000 in loans
- Environmental benefits: reduced food miles, improved water and energy use, improved soil health and biodiversity
To get involved:
- Apply for a loan through the two page preliminary application
- Invest in the Fund
- Join the Loan Review Committee or Board
- Join the group of mentors supporting loan clients
- Help get the word out by sharing this information and supporting the loan clients at Ontario markets and stores
Visit the Fair Finance Fund website to learn more, or contact them at info@fairfinancefund.org.