a community microloan program
Linking Investors & Borrowers To Take Action for Climate and Community!
Salt Spring Loans is an investment co-op that provides microloans to Salt Spring Island residents to create resilient, climate-ready homes,businesses/enterprises, and organizations.
Co-op members pool their funds together to provide low-interest financing to projects on Salt Spring Island.
Salt Spring Loans has one main program and one in development:
- The Climate Action Loan program matches borrowers to the lending pool for Climate Action loans to support feasible climate and community resiliency projects.
- The Island Impact Loan program is under development and intends to support financing for larger community resiliency projects. Read on for information about both programs.
Our vision for Salt Spring is a vibrant, resilient community, less dependent on imported energy sources, with a strong local economy and healthy ecosystems.
Who Can Apply for a Loan?
- Homeowners
- Individuals
- Organizations
- Businesses
Please join us as a borrower or lender or both and together we will amplify our island's circular economy.
What Kinds of Loans?
Climate Action Loans
Climate Action Loans are to purchase and install equipment that addresses and adapts to climate change. Examples include: heat pumps, water tanks, EV chargers, E-bikes, and greenhouses. Low-Interest loans up to $10,000 are available to Salt Spring residents. The eligible loan amount will be 50% of the cost of the project after rebates and discounts, up to $10,000 maximum. See full terms on the application page.
island impact loans
Have an idea that can support environmental, social and/or economic resiliency for Salt Spring? Will it make a difference to our island’s future? We want to hear your ideas! There may be energy in the Salt Spring Loans membership to fund a loan to your project. Salt Spring Loans would like your participation to build this program. Email saltspringloans@gmail.com.
Sign up for both the Salt Spring Loans newsletter and the TSS newsletter.
COMMUNITY IMPACTS
Since 2011, 100+ members of Salt Spring Loans have loaned out $276,355 to 42 local projects — supporting everything from clean energy and water systems to community innovation.
Salt Spring Loans - Stories
Using a Climate Action Loan and Rebates to Upgrade Home Heating
Heat pump rebates, grants and loans are part of a climate-resilient future. Like many islanders, Sean Goddard is self-employed and a parent. Climate- and other home-based major maintenance and upgrades were out of reach while…
Using a Climate Action Loan to Design for a Climate-Ready Future
As intentional stewards in a forest home on what is called Trincomali Heights in Penelakut territory, Pam Tarr and Jon Cooksey have been actively designing for a climate-ready future. Right away, they explain the very…
Building Madrona Integrative Health with help from Salt Spring Climate Action Loans
Building Madrona Integrative Health relied on building relationships; not surprisingly, the relationship and loan support from Salt Spring Loans was featured front and centre in the story of the birth of the Madrona clinic. The…
BECOME A MEMBER: MAKE AN IMPACT BY INVESTING IN THE PLACE YOU CALL HOME.
Are you a patient investor who is interested in contributing to the health of our community? Join Salt Spring Loans and invest in projects you care about. Receive a small financial return and a large social return on your investment.
Under BC’s Securities Co-op Exemption Rules, members may invest up to $10,000, unless they qualify for additional exemptions. See our FAQ for more information.
Questions and Contact
For more information about Salt Spring Loans and its programs: Climate Action Loans and Island Impact Loans, or about investing & borrowing, see Frequently Asked Questions.
Have more questions? Contact us
The Salt Spring Loans is a co-operative association with a local Salt Spring Island-based Board of Directors. It operates under the BC Cooperative Associations Act. The Co-op is owned by its members who elect the volunteer Board of Directors at the Annual General Meeting and provide guidance to the Board. Salt Spring Loans has a contract with Transition Salt Spring Society for partnership on Climate Action Loans programming and communications, yet it is a distinct legal entity with its own set of bylaws. Its legal name is the Transition Salt Spring Enterprise Co-operative Association.
