BALTA - B.C.-Alberta Social Economy Research Alliance

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Edmonton Launches Social Enterprise Fund

Two BALTA partners – the Edmonton Community Foundation and the City of Edmonton – have come together to support an exciting new social economy initiative in Edmonton.

On April 24 Edmonton’s City Council approved a $1.8 million allocation towards establishment of a Social Enterprise Fund. These funds will be matched with donor funds through the Edmonton Community Foundation, which will manage the new funding program. City Council also agreed to consider a further $1.8 million allocation in the 2008 City budget.

The SEF is designed to meet the financing needs of social enterprise operators in a way that mainstream financial institutions and philanthropic granting programs do no. It will offer a unique blend of supports to the development of social enterprises in the city – loans, technical assistance grants, investments and other forms of financing. The SEF will make loans for the start-up and expansion of social enterprises operated by Edmonton’s charities and provide interim financing for affordable housing projects.

Edmonton Community Foundation CEO, Martin Garber-Conrad, emphasizes that “the SEF is the financing tool needed to ensure social enterprises succeed and affordable housing projects are built.”

The SEF aims to be capitalized in the amount of $10.5 million within 5 years. Promising discussions have already been held with other institutions and levels of government with regards to investing in the SEF.

For further information, contact Martin Garber-Conrad

(From BALTA Bits & Bites, September-October 2007)


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