Metro Business Opportunities' Support program fosters Social Enterprise. Available to registered non-profits in the cities of St. John’s and Mount Pearl, Support provides financing of up to $50,000 and skills development opportunities for organizations looking to start or expand a Social Enterprise. By operating a Social Enterprise, an organization can generate funds for their programs, support their core mandate, gain financial independence, and achieve their strategic goals.
- Repayable loans of up to $50,000
- Allows not-for-profits to start or expand social enterprise
- Low interest rates, with flexible repayment terms
- No penalty for early repayment of loan principal
- Access to business skills development seminars
What is Support?
First piloted in 2017, Support is a partnership between Metro Business Opportunities (MBO) and the Atlantic Canada Opportunities Agency (ACOA). With over 25 years experience supporting entrepreneurs and small businesses in the Metro area, MBO was the logical choice to foster Social Enterprise development in St. John’s and Mount Pearl. To ensure a successful venture, Support offers Social Enterprises up to $50,000 in financing and provides essential business advice and skills development opportunities.
Why Social Enterprise?
There are various models for not-for-profit organization funding: government, grants, fundraising, membership fees, etcetera. By offering goods and services for commercial sale through a Social Enterprise, a not-for-profit generates revenue that it can reinvest into achieving its core mandate. This innovative funding model can provide financial independence for an organization, and bring a more entrepreneurial approach to operations – helping the organization remain relevant, maximize efficiency, and achieve their goals.