The Afro Caribbean Business Network Foundation Canada (ACBN) has officially announced a $250,000 investment by Inspirit Foundation to the ACBN Microloan program.
The Microloan program provides low interest loans to Black entrepreneurs, ranging from $2,500 to $25,000. One of the first of its kind in Ontario, this community lending program helps amplify and accelerate the growth of many local Black businesses.
“At Inspirit, we are committed to leveraging our investment capital towards our mission of inclusion and pluralism,” said Jory Cohen, Director of Finance and Impact Investment for Inspirit Foundation. “The ACBN Microloan program helps fill an identified need for Black businesses and we are thrilled to provide institutional support.”
This innovative fund was developed in partnership with Alterna Savings, who administrate of the program’s microloans.
Read the full release here.
