Montreal Community Loan Association – ACEM

ACEM provides loans and technical support to those who don't have access to traditional source of credit. ACEM's services are available to those who are starting or expanding their business, community group or co-operative.

Eligibility Criteria

Eligible loan applicants must be part of ACEM's target population or must be developing a project that responds to the needs of ACEM target population, who are: single mother, welfare or unemployment recipients, unemployed youth and immigrants and refugees. and visible minorities.

Eligible Area

Projects must be located on the Island of Montreal.

Summary

ACEM's mission is to fight poverty and exclusion and does so by using an innovative tool: community credit. ACEM provides loans and technical support to people who don't have access to traditional sources of credit for the start-up or expansion of their business or community initiatives. Loans start at $500 and may reach up to $20,000. Repayment is done over a maximum of 36 months. ACEM provides also bridge loans to $50,000 to non profit organisation and social entreprises. A loan committee composed of volunteer members of the business and community sector evaluate the loan applications.

Technical support is a critical component of our services both as a support system for our borrowers and a security for ACEM's loan capital. Our loan capital is composed of private investment from religious institutions, individuals, trade unions, foundations, businesses and non-government organizations.

Services offered

Financial support: loan for the start-up or growth of a business, non-profit community group or a worker co-operative.

Technical support: Personnalized support services provided according to the specific needs of each borrower (evaluation of the business plan, management support services for all aspects of a business such as marketing, accounting and finance).

Evaluation criteria

Loan applications are evaluated according to the following criteria: social impact, financial and economic viability and the applicant's management capacity and experience.

• Community Loan Fund

Quebec Contact(s):
Yasmine Nacro
Financial Analyst and Business Support Counsellor
Montreal Community Loan Association ACEM
Suite 319
3680 Jeanne-Mance Street
Montréal, Quebec  H2X 2K5
Canada
Telephone: 514 843-7296
Fax: 514 843-6832
E-mail: info@acemcreditcommunautaire.qc.ca