Investing
The Saint John
Community Loan Fund is built on investments made by socially responsible
individuals and groups living in Saint John, as well as by friends
living outside of Saint John. They want their investment dollars
to circulate in Saint John - building opportunities here, for people
here.
No other investment
vehicle exists in Saint John, in which 100% of your money works
here! The Loan Fund converts your investment to loans to help people
in our community start businesses, get back to work, or secure housing.
Loans go to people who live in our community who have good ideas,
and the desire to get ahead, but who don't have the income, assets,
security, or credit history to get a loan elsewhere.
Your
Return
You choose the
financial return for your investment - up to 3% or the Loan Fund
will match any bond rate. Of course, the more significant return
is much broader - it is seeing your money help grow businesses and
opportunities in Saint John.
Protecting
Your Investment
The Loan Fund
knows that your money is limited so we make every effort to diminish
your risk. After all, your risk is ours. If you lose money, we lose
money. To diminish risk the Loan Fund does three things:
- Reserve.
Like banks and credit unions, we set aside a reserve to cover
losses. In the banking industry they set aside a maximum of
5%. We set aside a pool of money equivalent to 30% of any loans
active on the street, so if there is $50,000 on the street,
we have $15,000 dedicated to covering losses. We do that so
you don't lose.
- Support
to borrowers. Besides giving out loans, we work with our borrowers
on a monthly basis, often meeting to develop marketing strategies
and fine tune accounting. When borrowers walk out the door,
we tag along for the duration of the loan.
- Security.
Though our loans are small, we still try to secure each loan
with real or personal property.
How
Much Can I Invest and for How Long?
Anyone can invest,
and can invest with as little as $250. All we ask is that your investment
is committed for a term of two years or more, so that the money
has a chance of revolving in the community. You also have the choice
of directing your investment for either housing or business and
work . Its up to you.
If you are interested
in joining our community of investors you can call us directly and
speak with Seth Asimakos, our Manager, or you can download the
Expression
of Interest in Investing form, complete it and
return it by mail. We will then setup a meeting with you to finalize
an agreement. Its that simple. Join us in making a better Saint
John for all.
Donating
to the Loan Fund
Not everyone
wants to be an investor and sometimes a donation can actually provide
a better return to you with the tax credit. The Saint John Community
Loan Fund is a registered charity and can provide you with a charitable
receipt for any donation that helps us help others in the community.
Like investments,
donations can be directed to different activities; to general operations;
to any of the loan pools; or to the loan loss reserve, where a donation
leverages at least three times its value in loans. You can download
the
Expression
of Interest to Donate form, complete it, and
return it with a cheque, or you can call us to meet and provide
more information. Any donations will receive their charitable receipt
within two weeks.
Want
to get involved? Call!
506.652.loan (5626)
Saint John Community
Loan Fund
133 Prince Edward St., Saint John, NB E2L 3S3
Email:
loanfund@nbnet.nb.ca
Fax: 506.652.5603
* Charitable# 85491 3241 RR0001
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