Small Business

Microfinance

Alterna values entrepreneurs and small business owners and their contributions toward our economy and local communities. We promote community economic development through micro-lending initiatives, encouraging our members to be financially knowledgeable, giving back through many charitable activities and continually striving to be transparent at every level of our operation.

Microfinance Program

Our Microfinance program works to address socio-economic inequity by creating opportunities for financial independence and reducing barriers to banking for those often excluded from financing.

Program Details

  • Up to $25,000 for entrepreneurs
  • A built-in micro-savings component to bolster resilience
  • Focus segments include:
    • Low-income earners
    • Professional development
    • Skilled professionals and trades
    • Social entrepreneurs and enterprise
    • Women entrepreneurs
    • Black entrepreneurs

Additional Support

  • One-on-one consultations
  • Financial education
  • Credit Building
  • Workshops and tools
  • Wrap around support

Collaborative NFP Loan Fund

Alterna’s Collaborative NFP loan fund provides financial support to non-profit and charitable organizations that the COVID-19 pandemic has negatively impacted. Funding ranges from $1,000-$20,000 with a repayment term of up to 3 years. Learn more about eligibility criteria here or contact us to learn more. 

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Joint Loan Program with BDC

Black entrepreneurs, social entrepreneurs, and women entrepreneurs who have received up to $25,000 in funding through Alterna's Community Microfinance program will have the opportunity to do double this amount through this new program with BDC, for a potential total of $50,000. 

Resources to Help
Get you Started

Contact us to request a copy of our Cash Flow Statements and Business Planning Steps.

Success Stories

Jason Baerg

Jason Baerg

Indigenous artist Jason Baerg credits his work with Alterna’s Community Microfinancing Program with helping him to get where he is today.

profile images of Sergio Navarretta & Alessandra Piccione

Sergio Navarretta & Alessandra Piccione

Sergio Navarretta and Alessandra Piccione, co-founders of SNAP Films Inc. work together as a director and screenwriter to create meaningful stories for both the big and small screen.

profile photo of Sipho Ibeakanma

Sipho Ibeakanma

Sipho Ibeakanma was inspired to open her business, The Niesh Hair Scarf Wig, after her daughter Cleopatrah and granddaughter Niesha tied a beautiful scarf around her wig in August 2018.

Community Partners

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Your financial well-being comes first

Welcome to a better way to bank. Our knowledgeable team puts your financial well-being first with good, caring and transparent advice while offering all the products and services you need.