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Alterna expands its micro-financing and lowers the rates

Alterna Savings and Credit Union has announced that it is now offering its Community Micro-Finance Program in Ottawa and that customers can qualify for one-time promotional rates “as low as prime +2%.”

The program, first introduced in 2000 by the Ontario-based credit union, was created to finance small businesses that might not otherwise qualify for conventional financing, with loans up to $15,000.

“We believe that small businesses play a vital role in our economy, and as a result, we seek to provide otherwise unavailable financing . . . so they in turn can create jobs in their communities,” says Susan Henry, Alterna’s manager of corporate social responsibility. ◊