CENTRAL SAANICH – Budding business owners are going to be able to get help directly from people who are already successful.
Community micro lending will match investors with entrepreneurs.
The loans are small but the ripple effects on the community could be huge.
Green Girl Gardens was the first to receive a ,000 loan. The loan comes with a 10 per cent interest rate. 2 per cent goes back to the investor, eight per cent is invested in the program for mentoring and to foster new entrepreneurs.
The Green Girls expect to pay their loan back by the end of the summer season even though they have five years to pay the money back.