Eligibility
Since its inception in 2012, the Social Impact Fund has unlocked the Foundation’s assets in order to create positive change in the community by providing loans to social enterprises and affordable housing projects.
As the Social Impact Fund grows and more loans go out into the community, the social returns of the Foundation’s assets also grow, while retaining a financial return. Our Social Impact Fund totals over $25M, and has invested in a variety of both affordable housing and social enterprise projects since its inception.
If you think the Social Impact Fund could help with your Social Enterprise or Affordable Housing Development, tell us about it today!
The Impact of the Fund
| Impact Measure | 2024 | 2015-2024 |
|---|---|---|
| Number of Loans for Affordable Housing (dispersed) | 5 | 28 |
| $ Value of Loans for Affordable Housing (dispersed) | $7.25M | $47.74M |
| Total Housing Units Funded | 574 | 1,789 |
| Number of Loans for Social Enterprise (dispersed) | 1 | 8 |
| $ Value of Loans for Social Enterprise (dispersed) | $500,000 | $1.32M |
On This Page
Affordable Housing
London is in the midst of a housing crisis. Rents are skyrocketing and vacancy rates are at an all time low. More and more we are seeing members of our community fall through the cracks and end up in temporary shelters or on the streets.
Governed by the Foundation’s Social Finance Committee and advised by the Housing Action Committee (HAC) the Social Impact Fund seeks to kickstart affordable housing development in our community by helping organizations get shovels in the ground as quickly and efficiently as possible.
If you are in need of affordable housing, please call 211, visit the City of London’s Homeless Prevention and Housing page or refer to this resource.
What Makes a Good Social Impact Fund Application?
The 99 Pond Mills mixed-income development opened in May 2023, but London Community Foundation’s involvement in the project goes back to 2019. We take a look back at five aspects of the project that made it such an attractive investment for our Social Impact Fund.
Sep 20, 2023
Transitional Housing in Tillsonburg: Social Finance Loan to United Way Oxford
LCF recently loaned $400,000 to United Way Oxford, for a transitional housing project in Tillsonburg that really speaks to the importance of strong partnerships, and how quickly change can be made when everyone pulls in the same direction.
Apr 18, 2023
Social Enterprise
The Social Impact Fund has expanded the financial tools available to London Community Foundation, ensuring that we can be flexible to the needs of each applicant. The goal of our Social Impact Fund is to strengthen entrepreneurship in London’s social enterprise sector, primarily through financial investments.
We want to work with non-profit organizations, as we recognize that many non-profits have difficulty securing financing from the traditional sources.
In addition to providing traditional loans, the Social Impact Fund can provide support through various other financial instruments, including lines of credit, letters of guarantee, mortgages or even an equity investment if the project is a good fit.
A Fresh Approach to Food in the City
In 2016, Richie Bloomfield, Jeremy Horrell and two of their friends were gathered at a coffee shop, discussing what urban agriculture could look like in London. This casual discussion is what eventually led to the founding of Urban Roots London. Now, in 2021, London Community Foundation and Verge Capital are investing over $500,000 to help by the land Urban Roots operates on, giving the team the security they need to invest in infrastructure to help them build for the future.
Aug 12, 2021
Ending period poverty. Period.
Thousands of women in low-income situations can’t afford period care products and are often forced to make decisions that not only compromise their health, but their dignity. Sarah Askew is working to change that through Mensadora, her social enterprise that manufactures and sells reusable menstrual products.
Jun 18, 2019
Why Work With Us
Flexible Financing
The Social Impact Fund can provide support through various other financial instruments, including traditional loans, lines of credit, letters of guarantee, mortgages or even an equity investment.
Personal Process
We make it as quick and easy for you as possible to access funding through the Social Impact Fund by cutting through the red tape that traditionally can be a burden.
Low Interest Rates
We make the cost of borrowing manageable, meaning more of your income can be used for social impact.
Social Focus
As a community foundation, our mandate centers around making our community a better place. Your mission and desire to make an impact on your community is just as important to us as your profitability.
Trusted Partner
The Foundation’s board and committees have decades of finance, investment, and community building experiencing informing every decision. You can trust us at every step.
Useful Links
Contact Us
Think the Social Impact Fund might be a good fit for your Social Enterprise or Affordable Housing development? Tell us about it! Start the conversation with us below.Tell Us About Your Project
Application Resources
Below you’ll find resources that may help you prepare to apply for a loan from LCF’s Social Impact Fund.
- Apply For A Loan (.pdf)
- Loan Approval Process (.pdf)
- United Nations’ Sustainable Development Goals (SDGs) (.pdf)
Eligibility
LCF is accepting applications from all organizations that are in the business of doing good, be it a social enterprise or building affordable housing. Here are some definitions and resources that can help you figure out where you fit in.
- Registered charity vs. non-profit organization
- Social enterprise vs. corporate social responsibility
Recognition & Reporting
We ask that you recognize our contribution by acknowledging the Foundation in marketing and media materials (print and online) when possible and appropriate. Please use the below materials and guidelines, and contact Matthew Brewer if you have any questions.
- Logo Package (.zip)
- Brand Guidelines (.pdf)
- Yard/Construction (.pdf)
External Resources – Affordable Housing
- CMHC: Affordable Housing in Canada
- National Housing Strategy
- Ontario Ministry of Municipal Affairs and Housing
- Ontario Non-profit Housing Association
- Canada Green Building Association
External Resources – Social Enterprise
- Government of Canada: Social Innovation and Social Finance
- Social Enterprise Ontario
- Pillar Non Profit
Ready to Apply?
Great, we look forward to receiving your application! If you’re still unsure about anything regarding the Social Impact Fund, check out our FAQ’s below, or contact Rachelle Lamarche, Finance and Operations Specialist, for more information.
Frequently Asked Questions
Borrowing From Us
- How much can I borrow and what are the typical repayment terms and rates?
- We have up to $32 million available to invest in Social Enterprises and Affordable Housing. Currently we are open to considering individual loans up to $5 million.
- Our interest rates are typically in line with the Bank of Canada’s Investment Rate.
- What kind of loan can I get?
- Currently, most of our loans are term loans. However, we are interested in working with our clients to come up with a solution that works best for you.
- What’s your decision making process and how long does it take before I can access the money?
- Foundation staff will thoroughly review the proposal, the organization and the management team behind it. If we are satisfied all the information is complete and the answers are sound, a proposal will go to the our Social Finance Committee for review, then to our Board for final approval. If approved, a letter of offer will be made. Timing will vary as we need to have all the information and understanding from you to proceed.
- Will I need a lawyer?
- It’s not a requirement, but it is a good idea. You will be considering substantive legal documents, perhaps more complicated than any you have encountered before, and that you may be committing your organization to live with for years to come.
- If you decide not to use a lawyer, LCF can arrange for our clients’ final document signing to be handled by our lawyer, who will ensure that all necessary copies and affidavits are correctly prepared. Please contact Vijay Venkatesan, our VP of Finance and Operations, for details.
Affordable Housing
- How does London Community Foundation define affordable housing?
- Affordable housing is defined by CMHC as rental housing that is at or below 80% of the Median Market Rent in a community. Beyond this however, the Foundation also seeks to invest in rent-geared-to-income deeply affordable housing with integrated support services for those who need them, which is based on ODSP shelter rates.
- What can the loans be used for? Are there any restrictions?
- We offer early stage financing for:
- Project planning
- Re-zoning
- Land acquisition
- Site development
- Interim construction financing
- Organization costs
- Incorporation
- The project must be in Southwestern Onario and lending must be directly attributable to the creation of an affordable housing project (i.e. no training, education, proof of concept research etc.)
- Will the Foundation be purchasing property and creating housing?
- At this time, the Foundation is committed to providing low-interest loans. There are, however, other communities in Canada and elsewhere, that are creating some innovative affordable housing. If there are builders or nonprofit organizations interested in unique or innovative ideas, then we are interested in listening. Of course, any expansion beyond the current social finance loan program would require the approval of the London Community Foundation Board of Directors.
- Why is London Community Foundation involved with affordable housing?
- Having safe, secure and affordable housing is the foundation to building a successful life. Until people have decent housing, it is almost impossible for them to successfully deal with other issues in their lives, be that responding to the special needs of their children or dealing with mental health or addition issues.
Social Enterprise
- How does London Community Foundation define social enterprise?
- There are many definitions of social enterprise, however one of the most straightforward definitions is that of the Canadian Task Force on Social Finance in their 2010 report, Mobilizing Private Capital for Public Good.
- “Social enterprise is defined as any organization or business that uses market-oriented production and sale of goods and/or services to pursue a public benefit mission. This covers many organizational forms – ranging from enterprising charities, non-profits and co-operatives to social purpose businesses, which are for-profit businesses designed to fulfill a social mission.”
- Why would London Community Foundation’s Social Impact Fund lend us money when banks won’t take the risk?
- The goal of our Social Impact Fund is to strengthen entrepreneurship in London’s social enterprise sector, primarily through financial investments. We want to work with non-profit organizations, as we recognize that many non-profits have difficulty securing financing from the traditional lending industry.
- Our mandate allows the Social Impact Fund to accept a greater degree of risk than a traditional lending agency, and to be more patient in our repayment terms. This doesn’t mean that the Foundation will not employ the same level of rigour in accessing the potential of proposals for financing – We are as determined as any lending institution to have each and every loan repaid within the agreed-upon terms. The long term viability of our Social Impact Fund depends on our loans being repaid – with interest.
- Are there restrictions on how we can use funds from the Social Impact Fund?
- We consider all the costs of making your enterprise work, though typically we’re unable to fund salary costs.
Latest Social Finance News
Village SoHo – August 2025 Photos
Latest photos from Village SoHo courtesy of Southside Construction. Zerin is continuing to show their model suites, and Homes Unlimited expects to have model suites in October.
Aug 15, 2025
Look Inside Model Units at Village SoHo
Zerin Place on South Street, built by Zerin Development Corporation as part of Village SoHo, recently opened up two model units for viewing.
Jul 2, 2025
Vision SoHo Alliance Announces New Name: Village SoHo
The Vision SoHo Alliance, a partnership of six non-profit housing developers building over 690 mixed-income rental apartments, announced today a new name and brand for the community: Village SoHo.
May 13, 2025
Southside Construction recently sent us some updated photos of the Vision SoHo development, showing more significant progress.
Dec 6, 2024
Last updated April 12, 2026