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North End Startup & Training program

FOR INQUIRIES AND E-TRANSFERS info@onenorthend.ca

FAQ’s:

When an individual or an organization invests in our micro loan fund the money trail looks like this.

  1. A cheque is written to the One North End Community Economic Development Society and deposited to the organization's bank account at iNova Credit Union.

  2. As the money is accumulated it will be used to purchase Guarantee Issue Certificates from the Credit Union. These Certificates will be used to guarantee 100% of the loans issued.

  3. iNova will do all the loan processing, including credit checks and loan documents for interest bearing loans. They will meet with the ONE loan advisory board and a decision will be made on whether to offer the loan and on what terms.

  4. Interest collected from the loans will be used to offset any losses that occur from deal flow.

  5. As loans are repaid the funds will be redeposited in the loan account for reuse.

  6. REPEAT PROCESS

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