VERGE Capital — Startup Fund
At a glance
- No Condition
- Unspecified
- Agriculture, forestry, fishing and hunting
- Retail trade
- Professional, scientific and technical services
- Other services (except public administration)
Overview
If you're a startup or small business, you could get a low-interest loan of up to $100,000 for initiatives that achieve social, economic, environmental, and community goals.
Activities funded
The VERGE Capital — Startup Fund is designed to support social enterprises in Southwestern Ontario, focusing on people and planet-oriented projects. This fund provides flexible financing solutions to a range of stakeholders, including businesses and nonprofits, aiming to foster a sustainable and inclusive economy.
- Financing startup social enterprises aiming for environmental sustainability.
- Supporting established enterprises in projects that enhance social impact.
- Loan financing for for-profit businesses making strides in social responsibility.
- Funding for nonprofit initiatives that promote community equity and inclusion.
- Capital support for charities developing innovative solutions to community challenges.
Eligibility
Eligibility for VERGE Capital's support is based on specific criteria to support social enterprises in Southwestern Ontario.
- The enterprise must operate within Southwestern Ontario.
- The enterprise can be a for-profit business, nonprofit, or charity.
- The enterprise must be a social enterprise prioritizing people and planet.
- Preference is given to enterprises owned by, led by, or serving historically excluded and marginalized populations.
Who is eligible?
VERGE Capital provides loans to social enterprises in Southwestern Ontario, including for-profit businesses, nonprofits, and charities. These loans are especially targeted towards enterprises owned by, led by, or serving historically excluded and marginalized populations. The organization welcomes applications from those who aim to make a positive social and environmental impact in their communities.
Who is not eligible
There are specific types of companies that are not eligible for this grant. They include:
- Companies outside of Southwestern Ontario
- Businesses not focused on social or environmental impact
Eligible expenses
This initiative focuses on empowering social enterprises that prioritize social and environmental impact in Southwestern Ontario. The activities eligible under this grant emphasize equitable access to capital and community-driven collaboration.
- Provision of affordable and flexible loan financing to social enterprises.
- Investment in for-profit businesses, nonprofits, and charities aiming for social good.
- Support for enterprises owned by or serving marginalized communities.
- Facilitation of strategic partnerships to enhance community impact.
Eligible geographic areas
This grant is specifically focused on supporting social enterprises within Southwestern Ontario. The eligible areas are chosen to foster local economic and community development in alignment with VERGE Capital's mission.
- Southwestern Ontario
Selection criteria
There are evaluation and selection criteria for this grant.
- Evaluating the applicant’s social and environmental impact potential
- Assessing the financial feasibility and sustainability of the proposed project
- Reviewing the alignment of the proposal with VERGE Capital's mission and values
- Evaluating the capacity of the applicant to manage and execute the project effectively
- Considering the potential for community engagement and collaboration
How to apply
Visit the VERGE Capital website
- Find the "How to Apply" section
- Read the information on the application process
Download the loan application form
- Fill out the form providing all the required information
- Prepare all requested documents
Send the completed form and documents electronically or by mail
- Wait for confirmation of receipt of the application
- Attend interviews or follow-up meetings if necessary
Additional information
Here are additional relevant details for this grant:
- VERGE Capital emphasizes supporting enterprises that contribute to a greener and more inclusive economy.
- The initiative is particularly focused on fostering social enterprises that address local community needs and deliver social, environmental, and community impact.
- Recent initiatives have included efforts towards financing conservation, community finance initiatives, and supporting women-led enterprises, indicating a broad scope of interest areas.
- VERGE Capital is a collaborative effort, indicating potential networking and partnership opportunities for applicants.