Financing FAQs

Any co-operative enterprise or co-operative established for the purpose of acquiring and/or transforming of an existing business to co-operative ownership can apply for CCIF financing.

CCIF was designed to provide innovative financing for co-operatives in any sector Canada.  CCIF will not provide financing to co-operatives that are governed by the laws of the United States or who derive more than 50% of their income or have more than 50% of their assets in the United States.

CCIF will consider start-up loans and/or equity investments. Typically CCIF will look for a combination of significant organizational sponsorship, commitments from individuals or other organizations including co-operatives, and a comprehensive business model including market assessments and projections where this is applicable.

Please see our Products page here.

CCIF primarily provides loans to co-operatives – which can be for a variety of purposes including capital acquisition or improvements, bridge financing, enterprise development and working capital. CCIF has the flexibility to structure loans to meet the cash flow requirements of co-operative enterprises – for example loans with a period of interest only payment, graduated interest payments, deferred payments and long-term amortization periods.

CCIF can also invest quasi-equity and equity in co-operative enterprises (for example revenue sharing based loans and preferred shares). Finally, CCIF can finance the transfer of enterprises into co-operative ownership. If you are seeking quasi-equity or equity financing, we encourage you to reach out to our team (link) to discuss your needs and tailored financing options.

CCIF provides loans from $50,000 to $1,250,000 and hybrid/equity investments from $200,000 to $1,200,000. On an exceptional basis, CCIF may consider loans in smaller amounts than the $50,000 limit. As the investment fund grows the upper limit for investments will rise.

30 – 60 days from application to disbursement depending on the complexity of the loan or investment and whether all the information required to review the application is available. On an exceptional basis and where the applicant has the required information ready, an application can be processed in a shorter period.

CCIF has a two-part application process and fee. Before even applying we invite co-operatives to speak to our team first about the requested financing to understand if there could be a fit before an application is completed and fees are paid. The fee is split into 2 pieces: (i)$250 for the initial review and (ii) $750 once the initial review has been completed and CCIF believes there is enough information to proceed to the 2^nd phase of the application process and review. Both fees are non-refundable.

• As a first step, please fill out our self-assessment to determine if you should apply for financing from us. Alternatively if you prefer, call or email us today.
• We prefer to speak with prospective applicants first to understand your requirements and to determine if there could be a fit for our financing and what form of financing best suits your needs. We will then invite you to complete part 1 of the application.
• A copy of part 1 of the application form can be found here, including information that will be requested. In part 1 of the application, we request information about your needs, the co-operative’s finances (historical financial statements, projections, etc.) as well as information about the board of directors and management team.
• Once we have reviewed part 1 of the application, we will notify you and advise if we believe there is enough information to proceed to the 2^nd phase of the application process and review. If that is the case, we will invite you to complete part 2 of the application.

Once an application to CCIF is received, we get in touch with the applicant and start the review of the information provided, get an understanding of the investment requirements, and assess the business plan, co-operative finances, organizational strengths and other pertinent factors. We may conduct a site visit to the co-operative and interview key people as part of this process.

Once an application reviewed, it is then brought forward to an investment committee of the Fund Manager for consideration. This committee reviews the investment recommendation prepared by staff of the Fund Manager. For most investments, the Fund Manager will also consult with an advisory committee established by CCIF to assist in the investment review process.

An applicant will work with an experienced CCIF team member with specific knowledge on how co-operatives differ from other business models. CCIF has two dedicated finance experts that will review your proposal, as well as a manager that can assist in this process based on your co-operative’s location.

You can see some of the co-operatives that CCIF has financed on our Financing Examples page here.