Harve$t Impact Cultivator Loan is a program offering $10,000 in financing at 0% interest to approximately 34 Guelph-Wellington food system businesses (including not-for-profits and social enterprises) in support of their recovery from current economic shocks, and to help them shift their practices in a way that contributes to a more sustainable, equitable and healthy food economy.
Harve$t Impact is a social financing project of 10C and a core pillar of the Our Food Future initiative. The COVID-19 pandemic has put a magnifying glass on many of the existing challenges that Our Food Future initiative aims to resolve. To provide immediate support and propel long-term community resiliency, Harve$t Impact and our partners are launching a loan program to help existing and new businesses overcome the impact of the current crisis through, and enhance capital and capacity to emerge from the current crisis stronger and more sustainable.
Harve$t Impact Cultivator Loan Program is a collaboration with Wellington-Waterloo Community Futures (WWCF) and Saugeen Economic Development Corporation (SEDC). It is a part of Grow Back Better, Our Food Future’s 10-point recovery plan in response to COVID-19, and supports the City of Guelph’s overall economic and social recovery efforts.
We are reprioritizing and restructuring existing elements of Our Food Future to provide immediate support to strengthen our local food economy. For more information about Grow Back Better, visit foodfuture.ca/growbackbetter.
Harve$t Impact Cultivator Loan Program will offer the following to approximately 34 pre-selected businesses (including not-for-profits and social enterprises who have completed the seeding Our Food Future grant Program):
Step 1: CFE IHUB Paperwork & Mentor Selection
Complete iHub paperwork and mentor selection
The loan applicants with their business projects originating through Seeding Our Food Future Grant Program (SOFF) will need to complete the iHUB first payment milestone by completing necessary paperwork and have a lead mentor assigned.
Step 2: Harve$T Impact Registration By January 31, 2020
Complete your online registration with Harve$t Impact
Step 3: Loan Application
Submit your loan application form and required documents directly to WWCF or SEDC
Step 4: Milestone
Harvest Impact Cultivator loan funds will only be approved by WWCF and SEDC once applicants have achieved the SOFF Milestone 2, demonstrating that work on your project is well underway. You have reached SOFF Milestone 2 by:
Step 5: Loan Review And Approval
Letter of Offer
Please note that even if your proposed business meets all the criteria of Seeding Our Food Future Grant Program, the submission of a loan application creates no obligation on the part of this loan program to provide funding for the proposed business. All final decisions are made based on the strength of your business idea illustrating a well-thought out rationale and clear impact, your ability to effectively deliver on planned outcomes, ability to repay, impact on job creation or maintenance, and the impact on sustainable growth for the community.
Applicants will be notified as final loan decisions are reached. Successful applicants (“Recipients”) can expect the following:
As a condition of receiving Harve$t Impact Cultivator Loan and support, recipients agree to: