Community foundations team up for Investment Readiness Program

By Medicine Hat News on January 11, 2020.

The Community Foundation of Lethbridge and Southwestern Alberta has teamed up with with Community Foundation of Southeastern Alberta to offer non-repayable capital to eligible organizations looking to do good in the region.

Organizations that qualify can access a minimum of $10,000 through the Investment Readiness Program – a program that is part of a national initiative led by the Community Foundations of Canada and funded by the Government of Canada. It will provide $18.5 million across the country to seed and grow social enterprise.

The program is open to a number of different groups around the country, including charities, nonprofits, co-ops and for-profit social enterprises. The program will provide the money in non-repayable capital for “eligible organizations to design, plan, measure and scale social enterprises to get ready to accept investment and participate in Canada’s growing social finance market,” a release stated.

“IRP is a great initiative that will support agencies and businesses in developing social enterprises throughout the region,” said Community Foundation executive director Chris Christie in the release. “It will help organizations enhance their mission to better serve their communities and create positive impact across multiple sectors.”