Linking Financial Incentives to Employment Outcomes
Through the Community Employment Loan program, Social Capital Partners facilitates access to subordinate debt financing for entrepreneurs, small business owners and franchisees who commit to hiring those at a disadvantage in finding work, such as youth, new Canadians and people with disabilities. The terms of the Community Employment Loan are directly linked to outcomes: For every employee an entrepreneur hires from a community partner, the interest rate on their loan decreases. . For as long as the individual is employed at the client’s place of business, the interest rate reduction remains.
We partner with established employment service providers in each client’s local area to recruit job candidates that are pre-screened to meet their hiring needs. Clients retain 100% control over all hiring and termination decisions. The loans attract community-minded business owners who have a high number of entry-level positions with the potential for career growth and advancement.
1. Unique Financing Terms: Loan interest rates can be reduced by up to 3-4% based on the number of employees hired from our community partners
2. Reduced Labour Costs via Wage Subsidies: Clients are eligible to receive publicly-funded wage and training subsidies for new employees. Eligibility is determined by our community partners.
3. Recruitment Time and Cost Savings: By hiring through community agencies, clients can save time, money and effort in the recruitment process.
4. Reduced Turnover: When the match is right, candidates hired through our community partners typically contribute to high employee morale and retention levels amongst entry-level staff.
5. Inclusive Workforce: Hiring from community agencies plays an important role in developing a strong corporate social responsibility platform, and in building a truly diverse and inclusive work environment that contributes to increased employee morale and productivity.
How to Access Financing?
If you would like to learn more about the Community Employment Loan program, please contact us at: firstname.lastname@example.org or 416-646-1871