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2009 News and Information

Social Financial Hardship Assistance Fund - Monetary Aid For Community Organizations

25 November 2009 

At its meeting on October 26, 2009, Richmond City Council approved establishment of a Social Financial Hardship Assistance Fund.

The Fund provides temporary loans to community organizations that are experiencing delays in receiving grants from other funding bodies during the current economic downturn. The Fund will be in place for a three year period (2010-2012), with a maximum total of $500,000 available for allocation during that time.

Key components of the Fund:
  • Non-profit organizations eligible for consideration under the City Grant Program are also eligible to apply for a loan under the Social Financial Hardship Assistance Fund
  • Loans must be repaid within six months of issuance
  • The maximum amount loaned to qualified applicants will be $25,000 over the Fund’s three year duration
  • Decisions regarding Fund allocations will be made by City Council

Additional information on the Fund can be obtained from the Council report, available on the City’s website at www.richmond.ca (City Hall > City Council > Agendas & Minutes > Council Meetings > 2009 Agendas & Minutes > October 26, 2009 – Minutes > Social Financial Hardship Assistance Fund).

For more information, please contact the Business & Financial Services Department at 604-276-4218.