SVX Towards Accelerator welcomes inaugural cohort
These organizations are leading the charge in driving positive social and environmental impact through community capital
SVX is pleased to formally introduce our inaugural cohort of the Towards Community Finance Development Accelerator (CFDA) program.
Towards is a capacity-building program that provides community finance intermediaries with technical knowledge, advice, visibility to investors, and peer support.
The program is designed to empower community-centric and/or place-based financial institutions that are dedicated to supporting resilient communities. The Accelerator supports community loan funds, investment co-operatives, land trusts, community futures organizations, Indigenous financial institutions (AFIs/IFIs) and credit unions.
Over the next few months, the inaugural cohort will gain insights and skills in growth and scaling strategies, financial management, reporting and compliance, equity lens investing, due diligence processes, capitalization, and impact measurement and management.
Join us in welcoming our cohort members:
Community Sector Council Newfoundland and Labrador (CSCNL)
The Community Sector Council Newfoundland and Labrador (CSCNL) was incorporated in 1977 as a provincial charity. They exist to foster social and economic well-being through the community sector in Newfoundland and Labrador. They do this through reflective iteration and co-creation of initiatives, building shared capacity while uplifting voices, and remaining impact-driven in our approaches.
Community Futures Huron
Community Futures Huron (HBDC) is an incorporated not-for-profit organization partially funded through the Federal Community Futures Program. Their organization is managed by professional staff overseen by a volunteer community-based board of directors. They provide a range of community-economic development services, and community grants to initiatives that enhance and strengthen the regional economy of Huron County, Ontario.
Harvest Impact
Harvest Impact, a project of 10C, is a place-based community lending program that is a key element of 10C’s growing portfolio of community development services. Harvest Impact currently offers loans in support of food, farm and environmental enterprises (including non-profits)
Vancity Affordable Housing Accelerator Fund
Vancity Community Foundation is a charitable foundation created by Vancity Credit Union that uses and leverage financial tools, provide innovative support to non-profit organizations, and advocates for policies that help make life more affordable and sustainable through various projects including Affordable Community Housing Program + Accelerator Fund, and over 240 philanthropic funds.
Kensington Market Community Land Trust
The Kensington Market Community Land Trust is a member organization committed to buying land in Kensington Market and using for community benefit. As part of this cohort, KMLT is looking to expand organizational knowledge and contacts, including potential investors.
Metis Settlements Development Corporation
Metis Settlements Development Corporation was created for the advancement of the economic interests of the Metis Settlements of Alberta in November 2021. MSDC fosters economic prosperity for the future by participating in various investment opportunities that are beneficial for all partner Metis Settlements.
Fair Finance Fund
The Fair Finance Fund established 2 new funds under the Inclusive Prosperity project: the African Canadian Farmers Fund and the Nourish Fund — the latter is specifically for urban agriculture and agri-food processing while the former is redressing internal and external biases in governance, operations, and lending practices of conventional institutions that African Canadians are subjected when trying to access capital to purchase land.
Union Co-operative
Union Co-operative is working to buy residential and commercial properties in Waterloo Region for permanent affordability through community ownership. The Co-operative was founded in response to rising rental rates in Waterloo Region that are becoming unaffordable for a growing share of residents and local businesses.
Afro-Caribbean Business Network
The Afro-Caribbean Business Network works with business owners of African and Caribbean heritage to help them understand their current situation and create a blueprint for growth. ACBN provides info sessions, networking events, microloans, and marketing support to help build businesses capacity.
La Vague
La Vague supports high-impact projects for Les Îles-de-la-Madeleine. It accelerates projects, promotes innovation within organizations and participates in attracting investment to the territory by creating synergies between the actors, expertise and resources of its vast network.
Tribe Network
Tribe Network is a hub for Black, Indigenous and People of Colour pursuing Entrepreneurship & Innovation.
Solid State Community Industries
Solid State Community Industries is a co-op development center with a mission to build a solidarity economy with racialized and migrant communities in Surrey B.C. They have helped launch over 25 worker co-ops and community organizations since they started in 2017.
Jubilee Fund
The Jubilee Fund is a charitable non-profit impact fund that provides various types of investment (debt financing, equity investment) to organizations and individuals working to reduce poverty who would otherwise struggle to secure investment.
Thrive Impact Fund
Thrive Impact Fund is a place-based impact fund in BC, working to mobilize and deploy catalytic capital for community-grounded and driven impact. They have been in operation for 2.5 years, and have deployed around $1.8M to date. As they grow, they are exploring an integrated capital approach beyond just loans — to include grants and equity as well. Thrive provides wrap around supports to their portfolio companies.
