MICROLENDING FOR WOMEN IN ONTARIO

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1 MICROLENDING FOR WOMEN IN ONTARIO Q s & A s 1. When does the application close? All applications are due in Grants Ontario by 5:00pm EST on July 27 th. Late applications will not be considered. 2. How can I get access to the application? The application can be downloaded from the Grants Ontario website. Applicants are required to register with Grants Ontario before they can submit the electronic application form. 3. Who is eligible to apply? Organizations that meet one of the following three criteria are able to apply to the Microlending For Women in Ontario program under any of the three program streams: an organization incorporated federally or provincially as a not for profit corporation; or broader public sector organizations; or Aboriginal organizations that are a legal entity. If you are unclear whether your organization meets any of these criteria, please speak with your organization s legal advisors or senior management to determine the organization s legal status. 4. For how long is funding available? OWD is making funding available for a maximum of three (3) years. It is anticipated that funding will start in October 2012 and projects should wrap up by December 31, However, applicants may apply for projects that run for any length to a maximum of three years. 5. I am individual with a small business, can I apply for microlending through this program? The Microlending for Women in Ontario program will provide funds to established organizations so that they can develop programs that will directly help women in starting businesses. Unfortunately, as these programs have not been developed they are currently not available to help individuals.

2 OWD will not be providing project funding directly to individuals. 6. I am looking to start my small business. Where can I find funding assistance to grow my business? Here are some existing microlending/microfinance programs in Ontario that may assist in launching or growing your small business: Access Community Capital Alterna Savings Canadian Alternative Investment Cooperative Canadian Youth Business Foundation Miziwe Biik Aboriginal Employment and Training PARO Center for Women s Enterprise The Community MicroSkills Development Centre The Ottawa Community Loan Fund 7. Our organization has funds to provide women with loans, and we have some project development pieces in place, but we do not have an existing microlending program. Should we apply under Stream #2 (projects to bridge gaps) or Stream #3 (projects to develop a new program)? Stream #2 (projects to bridge gaps in existing programs) was intended for existing microlending programs that would like to improve their current programming in order to improve the outcome of their projects or program participants. To apply under stream #2, your proposal will need to describe the existing program and the current gaps. Stream #3 (develop a new program) is for applicants to develop a new program. This could include expanding an existing program into a new community or tailoring a program for a specific community or target group. Applicants under this category would be at either an initial conception or early program development stage. 8. Would an application with a rural based focus be appropriate? The Invitation For Applications is open to all regions across Ontario, as well as rural and urban projects.

3 9. We want to apply with another organization as equal partners, how do we apply jointly? Although the OWD strongly recommends that applicants apply in partnerships, the preference is that only one proposal per project be submitted. One agency in each group of partners should be designated as the project lead. The project lead must meet the Microlending For Women In Ontario Invitation For Applications eligibility criteria. If the project is approved for funding, the lead agency will receive project funding from the OWD and will be responsible for the project reporting and the accountability. The lead agency may transfer funds to partner agencies for their portion of work on the project. How each partnership group manages the project relationship will be individual to each project. Some projects may choose to have an additional memorandum of understanding which will confirm an understanding of funds and deliverables. 10. The Invitation For Applications (IFA) indicates that there is $1.2 million available over three (3) years for the new initiative. Is this allocation for projects over the whole province for 3 years or potentially per project? OWD has earmarked $1.2 million over three years for all microlending projects in Ontario under the Microlending For Women in Ontario program. OWD expects to receive proposals that will vary in size, duration and cost. Hence, the IFA did not provide a ceiling or floor for each proposal in order to allow for flexibility in the types of proposals submitted. During the proposal evaluation, OWD will be assessing the budget section on whether or not the proposed budget makes sense for the work and scope being presented in the proposal. 11. Can I target my project to a specific group of women? Yes. All programs under the Microlending For Women in Ontario program should be targeted towards women. However, we recognize that certain groups of women can benefit from a program which is tailored to their specific needs and addresses the specific barriers they may face. Women who are French, Aboriginal, a visible minority, differently abled, a refugee or recent immigrant, older women or youth and others may benefit from a targeted program.

4 12. I m PhD candidate or professor doing research on microlending at a university. Would I be eligible if I apply through my university? Yes. OWD is seeking projects that can improve the knowledge base of microlending in Ontario. Research projects can include those which evaluate current programs and provide recommendations on how to improve access, outcomes or programming in Ontario. Individuals doing research would need to apply through an eligible organization such as a university, research think tank or other organization with a legal status. 13. I already started my application before OWD made changes to the Funding Guideline and Applications Instructions, can I continue with the same application? Yes. The changes to the Funding Guidelines and Application Instructions do not affect the application you may have in progress on Grants Ontario. Please use the revised Funding Guidelines as a resource while you fill out the application form. 14. Is it too late to register with Grants Ontario and start my application? Please register as soon as possible because it may take more than one day to get a login password. 15. I registered for Grants Ontario and I still haven t received my registration . Please contact the Grants Ontario System helpdesk: in Toronto: toll free: by GrantsOntarioCS@ontario.ca 16. I m using an Apple computer. Is this supported by Grants Ontario? Unfortunately, Apple s and Macintosh (Mac) computers are not fully compatible with the Grants Ontario System. When using a Mac, please use a version of the Mozilla Firefox browser up to 9.x. If you are experiencing difficulties with using a Mac on the Grants Ontario System, please contact Ola Agboola (ola.agboola@ontario.ca) as soon as possible for alternatives to electronic submission.

5 17. I am having technical difficulties. How do I get them resolved? The Grants Ontario System works best with the following browsers: Internet Explorer 6 Internet Explorer 8 Mozilla Firefox up to 9.x T ry switching to these browsers. If that does not resolve your technical issue, please get in touch with the Grants Ontario System helpdesk: in Toronto: toll free: by GrantsOntarioCS@ontario.ca Please find solutions to technical questions on the Grants Ontario Frequently Asked Questions page. 18. What is OWD s definition for low income? The Ontario government uses the following income levels as low income cut offs. Family Size Maximum Gross Family Income 1 person $26,100 2 persons $34,800 3 persons $43,600 4 persons $50,500 5 persons $56,300 6 persons $62,400 7 persons $68,300 8 persons n/a 9 persons n/a 10 persons n/a 19. Our organization has great services that we believe can bridge gaps in a microlending program, but we do not have an existing program. How do we apply? For organizations without an existing microlending project, and who do not wish to develop a new microlending project, the best way to apply for funding would be to partner with another applicant. Possibilities could include partnering to offer wraparound or other services which bridge a service gap within an existing project, or to partner with new microlending project to offer a service which would enhance the program for participants.

6 Alternatively, your organization may want to consider developing a new microlending program and apply for funding under Stream # What is the loan amount to meet Ontario's definition of microloan? OWD has not defined the amount for microloan in the Funding Guidelines so that applicants to the Microlending for Women in Ontario program can have flexibility in designing new programs. Organizations should take into account that clients using microlending programs may have differing financial needs. The expectation for organizations offering clients microloans programs is that the loan amount makes sense for each business proposal and can be repaid by the new entrepreneur within a year or two from business start up. Up to $5,000 is a typical amount for first time loan recipients. Organizations may want to consider a tiered loan approach which rewards repayment with increased amounts of loan funding to the participant. This is used by some existing microloan programs. Current microlending programs, using this tiered approach typically offer loans of up to $15,000 per client. Didn t find the answer to your question? Please Ola.Agboola@ontario.ca.