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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