Listed below are resources that will be useful to
practitioners and those interested in the community investment
sector. Where
possible, we have tried to highlight Canadian materials. CCINC
can not be held responsible for the content on these sites.
Articles and reports on community investing in
Canada
The Community Investment Study
This 2003 study laid the ground-work
for the launch of the Canadian Community Investment Network.
The purpose of the study was to determine how socially responsible
investment is helping to develop local communities and what
interventions would help “scale-up” the
sector in Canada. The partners were the Social Investment
Organization, a national non-profit organization dedicated
to the advancement of socially responsible investment in Canada,
and the Riverdale Community Development Corporation, a local
community economic development organization.
 » Download
Canadian Social Investment Review 2004
The Social Investment Organization’s report estimates
that socially responsible investment (SRI) in Canada has grown
to $65.5 billion, a 27 per cent increase in the last two years.
It contains a section dedicated to community investment. It reports
that in Canada, community investments are $546 million, a substantial
increase from $69 million reported in 2002, mostly due to the
addition of new "social economy" assets in Quebec.
 » Download
The Emergence of Community Investment as a Strategy for Investing
in Your Community
Coro Strandberg delivered this paper at the
Saskatchewan “Investing In
Your Community Conference” in March 2004. It provides an overview of
how the Community Investment Industry in Canada can be a tool to tackle issues
of unemployment, poverty, social exclusion, economic restructuring and environmental
degradation in Canadian communities.
» Download
The Future of Canada’s Capital market for Social and
Environmental Innovation: Social Capital Market Roundtable
Tides Canada Foundation and Social Capital Partners hosted a
roundtable dialogue on the state of “social” capital
markets in Canada to look at the new forms of innovation in finance
for social purpose initiatives led by non-profit or charitable
organizations or hybrids for-profits.
» Download
Financing Community-based Rural Development
This 2003 report, by William Ninacs, profiles prevalent instruments
used to finance community based rural development in various
industrialized countries.
» Download
Small and Medium-sized Enterprise (SME) Financing in
Canada
Small and Medium-sized Enterprise (SME) Financing in Canada,
2003 is a report on the state of financing for small and medium-sized
enterprises in Canada. As part of a five-year joint process involving
Industry Canada, Finance Canada and Statistics Canada, this is
the second of an ongoing series that will report on SME financing
in Canada.
» View
Website
Impact studies and evaluations
The Atlantic Micro-credit Socio-Economic Impact Study: Final Report
This study on the collective social and economic impacts of
four micro-enterprise programs in Atlantic Canada was commissioned
by the Atlantic Canada Opportunities Agency and The Steering
Committee to Coordinate Research on Micro-Credit in Atlantic
Canada. The four micro-enterprise programs (Calmeadow Nova
Scotia, the Newfoundland and Labrador Federation of Co-operatives
Micro-Business Lending Service, ACOA Seed Connexion Program and
the Canadian Youth Business Foundation) offered business credit
as one of their integrated support services. The final report
includes socio-economic indicators, the interview form and client
survey questions.
» View
Website
Reports sharing “lessons learned”
This is a selection of reports and articles that share advice
and “lessons learned” about specific community
investment funds. Some of these reports are available via
The CED Digital Bookshop under the search term “Development
Finance.”
» View
Website
The ABLED Initiative: Encouraging Entrepreneurship for
Persons with Disabilities
Advice and Business Loans
for Entrepreneurs with Disabilities (ABLED) is an initiative
operating out of Vancouver and Victoria. This story by Anne
Makhoul is a paper of the Caledon Institute of Social Policy.
It profiles three entrepreneurs and provides details of lessons
learned by the organizing partners.
» View
Website
Breaking the rules: Strategies For The Survival Of
Small Investment Funds
By definition, the credit needs of marginalized people are unlikely
to be met by conventional means. Reflecting on the success of
BCA Holdings, Inc., Greg MacLeod offers community loan funds
some unconventional advice: share resources to reduce the costs
of staffing and overhead; create loan funds to finance interest-free
mortgages; take a multifunctional approach in community business
so profitable activities can support unprofitable ones; and create
community investment funds that allow people to invest their
RRSP locally.
» View Website
Calmeadow Metrofund: A Canadian Experiment in Sustainable
Microfinance
In this report published in 2001, Cherly Frankiewicz explores
some of the lessons learned by Calmeadow through the operation
of Calmeadow Metrofund in Toronto. The report traces the various
stages of Calmeadow’s experimentation with lending to entrepreneurs
in Toronto and explores why Calmeadow concluded that stand-alone
minimalist funds in developed countries are very unlikely to
become sustainable without perpetual subsidization.
» View
Website
Calmeadow Nova Scotia
From 1991 until January
of 2001, Calmeadow experimented with various forms of micro
lending both rural and urban throughout the province of Nova
Scotia. The experiments, while frequently encouraging, failed
to reach a critical mass of clients sufficient to sustain the
operations without heavy ongoing subsidy.
This report by Robert Wright, former manager of Calmeadow Nova Scotia and Nic
Friendly, tells the story of the fund and draws some conclusions about the challenges
facing anyone interested in operating a stand-alone fund in Canada.
» View
Website
Social Capital Partners website
Social Capital Partners, an organization that invests in social
enterprises across Canada, has devoted a section of its website
to “what we’ve learned.” On these pages, Social
Capital Partners have documented their successes but also frankly
share what has not worked.
» View
Website
A Tale of Two Loan Funds
A comparison of two community loan funds; the ACCESS Riverdale
Community Loan Fund and the Metro Credit Union’s Community
Micro Loan Program. In the article, Susannah Cameron demonstrates
the design and management options within microfinance programs
and the implications for each clientele and community.
» View
Website
Studies on tax credits to stimulate community investing
Development
of Federal Tax Credits to Support Community Investment in
Canada
This paper presents the Canadian Community Economic Development
Network’s policy proposal for using tax credits and other
mechanisms to increase the amount of financial capital available
for community economic development in Canada. It presents the
results of the network’s research regarding tax credit
and community investment models, and a cost-benefit analysis
showing potential benefits to government from the proposed equity
tax credit.
» Download
Resources for borrowers
Locating Sources of Financing for Small Businesses
Industry Canada’s Source of Financing database
is located on its Strategis website. Through this database, you
can search through a wide spectrum of financial providers from
the private and public sectors that may address your particular
business needs. You have the option of searching financing providers
that are located in your area.
» View
Website
Information about credit reports and understanding the
costs of a loan
The Financial Consumer Agency of Canada (FCAC) is a new independent
body working to protect and educate consumers of financial services.
The website has a publication that explains mortgage terms and
conditions, a guide to helping the borrower understand interest
rates and fees, and information on the financial services industry.
» View
Website
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