This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RBC Invests $700,000 In Social Capital Partners' Community Employment Loan Portfolio

Low interest loans help entrepreneurs provide job opportunities for disadvantaged groups

TORONTO, March 17, 2014 /CNW/ - In a move to improve employment opportunities for youth and disadvantaged groups in Canada, RBC is investing in Social Capital Partners' (SCP) Community Employment Loan portfolio. RBC Generator, the investment arm of RBC's Social Finance initiative, has purchased $250,000 of the portfolio and has made an additional commitment of $450,000 to SCP over the next three years.

Since its inception in 2001, SCP has been dedicated to discovering new and powerful ways to improve access to employment for those who are disadvantaged. Collaborating with publicly-funded employment service providers and private sector businesses, SCP develops innovative solutions that tackle the issues faced by both job seekers and employers.

Through the Community Employment Loan program, SCP facilitates access to low interest financing for entrepreneurs and small business owners who commit to hiring those at a disadvantage, including youth, new Canadians and people with disabilities. The terms of the Community Employment Loan are directly linked to outcomes: for every employee hired from a community partner, the interest rate on the loan decreases. Such financing attracts community-minded business owners who have a high number of entry-level positions with the potential for career growth and advancement. It's a win-win scenario: job seekers are offered opportunities for meaningful employment, while entrepreneurs gain access to attractive financing terms and motivated employees.

"By linking interest rates to employment outcomes, SCP is demonstrating how financial incentives can drive social good in a way that makes sense for business owners," said Sandra Odendahl, head, RBC's Social Finance initiative. "SCP is a leader in the social finance landscape in Canada, and through this initiative RBC hopes to further engage the private sector in using business to drive positive social impact."

"SCP is proud of RBC's involvement in this initiative," said Bill Young, founder and president of Social Capital Partners. "We view this as an important step to expand the use of community employment practices by Canadian business owners, helping to facilitate employment access to countless job seekers who face added obstacles in finding work. We believe this is a prime example of how social finance can be leveraged to engage the private sector and generate win-win solutions."

SCP has helped facilitate financing more than $3.5-million to entrepreneurs and small business owners across Ontario to date. RBC's involvement will be invaluable in making this type of financing more prevalent in the marketplace to scale social impact.

About Social Capital Partners Social Capital Partners (SCP) is dedicated to discovering new and powerful ways to improve access to employment for those who find themselves at a disadvantage. Working closely with key players in the public, private and non-profit sectors, SCP aims to design, ignite, and prove new models that benefit job seekers and employers -- sharing what works with strategic allies who can impact the most people. SCP is driven and guided by what will have the greatest impact on access to meaningful employment; the Community Employment Loan program is one result of this unique approach.

About RBC Social Finance The RBC Social Finance initiative, launched in 2012, is a multi-million dollar commitment to help ignite social and environmental change through investment activity. This commitment includes the $10-million RBC Generator, a pool of capital dedicated to financing enterprises addressing social and environmental challenges; a significant investment of RBC Foundation assets into socially responsible investments; and strategic partnerships to catalyze the growth of social finance in Canada. RBC is recognized among the world's financial, social and environmental leaders and is listed on the 2014 Dow Jones Sustainability World Index, the DJSI North American Index, the Jantzi Social Index and the FTSE4Good Index. RBC is one of Canada's Greenest Employers, and one of Canada's 50 Most Socially Responsible Corporations. For more information, visit www.rbc.com/socialfinance.

SOURCE RBC

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs