Financial Inclusion Granting Program

Enhance Financial Inclusion and Education with Targeted Funding

This program offers up to $20,000 to support innovative projects that improve financial access and literacy among underserved communities. The focus is on initiatives that can be scaled or replicated effectively across different communities.

Detailed Overview of the Funding Opportunity

The Financial Inclusion Granting Program is designed to foster innovative approaches in financial education and inclusion within Ontario. It aims to empower organizations to implement projects that address gaps in financial literacy and access, especially in underserved populations. Eligible initiatives include programs that promote financial awareness, develop inclusive financial services, or create scalable models for community outreach.

Organizations seeking a grant must demonstrate how their project aligns with the program’s goal of promoting financial inclusion, whether through educational activities, technological innovations, or collaborative partnerships. The grant can be used for specific expenses related to project implementation, but detailed eligible costs are not specified. Successful applicants will be chosen based on criteria that evaluate the project's potential impact, scalability, and partnership capacity. The program encourages organizations to propose initiatives that can be expanded or adopted by other communities, emphasizing innovative and sustainable solutions. The selection process involves reviewing submissions based on their alignment with the program’s objectives and the feasibility of the proposed activities. Grants will be awarded to projects that show promise for significant social impact, with successful applicants announced during Financial Literacy Month in November. The application process requires organizations to submit a concise Letter of Inquiry detailing their project idea, which should not exceed two pages, and submit it via email. Even those not members of Alterna are eligible, although members receive priority. The program underscores the importance of creating initiatives that foster financial literacy, improve access to financial services, and ultimately contribute to reducing economic disparities in underserved communities.