How it works
Community Micro Lending facilitates loans between lenders and entrepreneurs in the Greater Victoria community. We identify entrepreneurs, walk with them through the application process which includes the development of a business plan, a credit check and a criminal record check. The loan committee - comprised of four members of our Board of Directors- meets with the potential entrepreneur and is responsible for approving loans. And then comes you, the local lender.
By investing in Community Micro Lending you are strengthening the fabric of the local economy and likely changing someone’s life. But there is more. This is an investment you can hold in your own two hands. Imagine walking into a small café in your own neighbourhood; your loan has helped to buy the espresso machine that has made your steaming hot latte. All this, and you get a 2% return on your investment. You can invest as little as $500 in any of our entrepreneurs. You choose the entrepreneur, we pool the money and when the total loan amount is met, we dispense the loan.
For more information download our loan agreement or write to lisa_communitymicrolending.ca.
VCMLS_Loan Agreement_Current.doc
VCMLS_Loan Agreement_SCHEDULE A.doc
By investing in Community Micro Lending you are strengthening the fabric of the local economy and likely changing someone’s life. But there is more. This is an investment you can hold in your own two hands. Imagine walking into a small café in your own neighbourhood; your loan has helped to buy the espresso machine that has made your steaming hot latte. All this, and you get a 2% return on your investment. You can invest as little as $100 in any of our entrepreneurs. You choose the entrepreneur, we pool the money and when the total loan amount is met, we dispense the loan.
