Launched in February 2008, the Social Enterprise Fund (SEF), an innovative made-in-Edmonton initiative, combines business expertise with flexible financing to help Edmonton not-for-profit organizations and cooperatives create or expand strong, sustainable business ventures, or social or affordable housing projects.
The 5 year goal is to secure $11 million in capital and to invest this capital in loans to social enterprise and housing projects. Repayments will be reinvested in other loans significantly leveraging the lending power of the Fund.
SEF financial products and development services have been designed to respond to the range of needs an organization might have as it considers social enterprise.
Our unique strength as a lender lies in the combination of flexible financing, a tolerance for risk, and rigorous assessment.
People
Bob Ward
Bob has 30 years working in community economic development. This experience gives Bob some insight into developing and operating social enterprise and preparing organizations for the journey.
Investors
The Edmonton Community Foundation
The Foundation connects passionate donors to charitable organizations delivering programs and services that enhance the quality of life in the communities in which we live, learn, work and play.
The Foundation invests donor contributions in perpetuity, creating legacies that positively impact our lives in the area of arts and culture, health and wellness, community and social services, education and learning, recreation and leisure and the environment.
The City of Edmonton
The Community Services Department at the City of Edmonton is a front line partner with citizens and communities committed to creating a safe, healthy, and vibrant city. The City of Edmonton and Edmonton Community Foundation have worked together to support social enterprises that combine a social mission with a business model. The results are businesses or organizations that provide valuable community benefits, like jobs for the unemployed, under-employed or disadvantaged and affordable housing.
The United Way of Alberta Capital Region
United Way of the Alberta Capital Region believes in the Social Enterprise Fund because it was designed by local community stakeholders to meet local community needs. United Way is happy to partner with the City of Edmonton and the Edmonton Community Foundation in this unique project. In 2007/2008 a total allocation of $500,000 was made to the Edmonton Community Foundation to support the work of the SEF. This project aligns well with United Way’s Mission of Bringing People and Resources Together to Build Caring Vibrant Communities.