Eligible applicants to the Fair Finance Fund will:
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Derive most of their income from sales of goods and services
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Be registered as a non-profit, charity, co-op or a business with clearly stated social and/or environmental values and objectives that are integrated into the operations
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Provide a business plan for start-up or expansion activities, and a financial plan that demonstrates an ability to pay back loan elements of the funding
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Demonstrate the ability to track the social and/or environmental impact of the funded project, and benchmarks for social and environmental impact as well as financial measures
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Demonstrate appropriate expertise to meet project goals
The Fair Finance Fund offers:
- Loans between $20,000 and $100,000
- Terms of five years
- 6% interest
- Optional 3 month grace period
- No collateral requirement
- Principal repayment in monthly payments with interest over term of loan
- No extra fees
- Early payment option under certain conditions
More info at https://fairfinancefund.org/loans.
