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Mixed Capital Opportunities Fund (Mixed Cap): Webinar - September 27 2018

TEF

Thursday, September 27, 2018 from 12:00 PM to 1:30 PM (EDT)

Mixed Capital Opportunities Fund (Mixed Cap): Webinar...

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RSVP Sep 27, 2018 Free  

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Event Details

How could your Social Enterprise grow if you had a bit more funding? Let us help you expand with the Mixed Capital Opportunities Fund (Mixed Cap)! 

The Mixed Capital Opportunities Fund (also known as Mixed Cap) facilitates the expansion of social enterprises by providing a hybrid form of capital. Open to non-profit social enterprises in the Greater Toronto – Hamilton area that have been in operation for at least one year, the Mixed Cap funding is a mix of loan (50%) and grant (50%).

Funding can go towards purchasing capital equipment, hiring additional staff, or stocking up – any growth opportunity for your social enterprise. Enterprises can apply for between $10,000 and $30,000 in total investment (split equally between a loan and a grant). In exceptional cases, up to $50,000 may be approved. Past Mixed Cap recipients have reported sales increases in their first year of financing at a ratio of 1:1:4 (ie. if they received $30,000, their sales increased to $45,000 that year).

 

How have other Social Enterprises succeeded with Mixed Cap?

Building Up is a construction contractor that provides high quality work for customers and training / careers pathways for people who face barriers to employment. Like many Social Enterprises, Building Up had a small management team and did not have capacity to follow up on all business opportunities. This is where Mixed Cap came in - Building Up used the funding to hire a Sales and Business Director. In one year, this position brought in new contracts which diversified Building Up’s services and allowed 22 additional construction trainees to be hired.

Furniture Bank collects gently used furniture from the community and transfers them to families transitioning out of homelessness or displacement. After expanding steadily, Furniture Bank’s continued growth was limited by their truck capacity. Using Mixed Cap funding, Furniture Bank was able to purchase an additional delivery vehicle. With this truck, Furniture Bank generated an extra $118,000 of sales revenue and increased its impact by 10% that year.  

 

Features:

  • Enterprises can apply for between $10,000 and $30,000 in total investment (split equally between a loan and a grant).
  • In exceptional cases, up to $50,000 may be approved; security/collateral may be required in these instances.
  • The loan portion will be in the form of a Term Loan and/or Line of Credit (LOC must be secured) at competitive interest rates.

 

Selection and Eligibility Criteria:

  • The identification of a solid business opportunity.
  • Be owned and operated by an incorporated non-profit organization.
  • Located and operating in the Greater Toronto-Hamilton area.
  • Demonstrate job creation potential, particularly for disadvantaged groups.

 

Application Process:

  • Attend this mandatory information session
  • Meet for at least one hour with Toronto Enterprise Fund staff.
  • Submit a business plan, in the form provided, for the business opportunity or need identified by October 12, 2018.
  • A review committee will first approve the application and it will then proceed through Alterna’s standard loan approval process.

 

For more information on Mixed Cap, and to review the application and business plan forms, visit the TEF website.

Have questions about Mixed Capital Opportunities Fund (Mixed Cap): Webinar - September 27 2018? Contact TEF

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Toronto, ON M5E 1S2
Canada

Thursday, September 27, 2018 from 12:00 PM to 1:30 PM (EDT)


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Organizer

TEF

TEF is a program of United Way Greater Toronto that supports employment social enterprises in Peel, Toronto and York Region. Employment social enterprises are businesses that create training and employment opportunities for people facing barriers to the labour market. TEF supports the start-up, sustainability, and scaling of employment social enterprises.

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