Series - Canada’s Social Finance Ecosystem - What’s Next?

Social finance promises new funding for overworked charities — but is a loan just another burden?

Author Nickie Shobeiry

Why It Matters

During the pandemic, charities have been working hard to meet increasing demands, despite a drop in donors and volunteers. The $755 million Social Finance Fund offers access to new financing — but with the majority of smaller charities unable to take on debt, many remain resource-strapped, despite our population’s growing needs.

var TRINITY_TTS_WP_CONFIG = {"cleanText":"Social finance promises new funding for overworked charities \u2014 but is a loan just another burden?. This story is in partnership with Employment and Social Development Canada (ESDC).\u00a0 In a 2018 letter to MP Jean-Yves Duclos, Imagine Canada\u2019s President and CEO, Bruce MacDonald, wrote about his hope and optimism for the then-recently announced Social Finance Fund , helping charities, non-profits and social purpose organizations access new financing.\u00a0 Throughout his letter, MacDonald emphasized that, in order for a strong social finance market to take hold, social enterprises need to be supported by the government to access social finance loans. He wrote that, with a looming social deficit and greater need to be self-sustaining, chariti

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