Saint John Community Loan Fund
Email: seth@loanfund.ca
Website: http://loanfund.ca/
Phone: 506-652-5626
Office Headquarters Address:
139 Prince Edward St., Saint John, NB, E2L 3S3
Background
Year Founded: 1999
Mission & Mandate: The Loan Fund’s mission is to improve social conditions by promoting economic independence and fostering entrepreneurship in the community.
Description: The Saint John Community Loan Fund helps individuals create income, build assets and attain greater self-reliance. We do this through programs in leadership, financial literacy, employment skills and enterprise developments, as well as offering micro-loans, coaching and matched savings.
Fund Characteristics
Saint John Community Loan Fund
AUM: $3.3 million
Vintage year: 2000
Closing year: NA
Fund term: Evergreen
Asset class: Private debt, Private equity, Real asset
Investor eligibility: Institutional, Accredited
Minimum investment: $500
Geographic scope: Provincial, New Brunswick
Committed capital: $500,000
Average investment size: $18,000
Investee type: All
Investment stage: Seed, Early
Impact Highlights
As of 2019, the Saint John Community Loan Fund has allowed for:
– 5,800 people to develop skills
– $556,694 loaned
– $3 million invested in Social Purpose Real-Estate
– 183 people back to work
– 165 businesses launched/assisted
– 99 people to return to school
– 92 people to enter better housing
– 155 people to build savings to buy assets for self-reliance
Success Story
The Farmer’s Truck Inc.
Moncton, NB | April 2019
Project Name: Pipeline Development
Financing: Royalty Agreement
Saint John Community Loan Fund worked with The Farmer’s Truck team to build out the runway to reach revenue generation. The Farmer’s Truck is building food trucks specifically for the food bank industry to provide mobile food delivery to food deserts. He is building the bodies in NB and shipping them throughout North America. The social impact will be measured by an increase in more accessible food throughout North America as well as the generation of good employment in NB.
