The Ottawa Community Loan Fund (OCLF) is a non-profit organization providing microloans for business and professional development purposes, as well as creating awareness of the importance of a strong credit history.
OCLF was formally launched in July, 2000 to fill the social-financing gap within the local community. It started out with a dedicated working Board and a single staff member.
Over the years OCLF has actively participated in enhancing community economic development (CED) in the Ottawa area. As of 2013, OCLF provided over 200 microloans, totalling approximately $2 million and about 90 percent of these loans are repaid.
Since its inception in 2000, it has constantly pursued its overarching goal; to ensure their loan recipients eventually have access to traditional financing, increase their assets and/or achieve the professional development.
Initially the organization targeted individuals who were trying to establish small businesses and who were not eligible for traditional financing. A special focus on youth was made possible through a partnership with Futurpreneur Canada. Through this CED initiative OCLF grew to expand its services with a focus on assisting internationally trained professionals gain Canadian accreditation. The Internationally Trained Talent Finance Initiative in conjunction with Local Agencies Serving Immigrants World Skills (LASI) enabled OCLF to develop its social mandate.
FCRP Launch March 5, 2019
Laura and Colette at Booth
Launch Of CESOC Partnership 2018
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OCLF empowers people by giving them information and tools to increase economic confidence and self-reliance or to start a business. Call us to find out how we could help you.