Edmonton tax dollars to fund social enterprises

Edmonton City Council agreed last week to bankroll a fund that would lend money to businesses whose profits go to worthy social causes. Council will give $1.8 million to the Social Enterprise Fund this year, with the possibility for another $1.8 million next year. The city's seed financing will be matched by the Edmonton Community Foundation, The Edmonton Real Estate Board has also promised to invest money. The fund will establish a $10.5-million endowment to finance socially beneficial businesses that might not qualify for loans from banks. For more information, visit: http://www.edmonton.ca