Measure the social value produced by alternate financing models such as for example NewStart, Blue Copper Capital and comparable organizations. Identify possibilities and dangers of partnership with every.

Measure the social value produced by alternate financing models such as for example NewStart, Blue Copper Capital and comparable organizations. Identify possibilities and dangers of partnership with every.

Assess standard bank readiness to partner to ultimately achieve the task objective with a certain give attention to credit unions as well as other locally-based finance institutions.

Business design Development (more or less 80% of project): the goal of this goal would be to build down a comprehensive enterprize model for scalable, sustainable pay day loan alternatives for Calgary. Predicated on Momentum’s present information, it’s almost certainly to interact as a dynamic partner on an answer that features an institution that is financial. Furthermore, Momentum can simply take part on task that is considered charitable in accordance with the Canada sales Agency. The perfect solution is has to address the questions that are following

What exactly are suggested item offerings? Includes information on quantity, term, rate of interest, eligibility requirements, protection or security if any, credit bureau reporting, application procedure, graphical user interface (face-to-face, online, mobile etc.), projected acceptance price, etc.

Just exactly just How numerous loans are projected in the 1st 36 months of this providing? what’s the projected payment price?

What’s the investment needed to attain these results? Where will this investment result from and just how will investors be rewarded with regards to their danger?

What’s the profile of this client that is ideal what’s the product’s market positioning? For instance:

Will it be simpler to have high obstacles to access (eg cash management training includes included in item distribution) and a quality that is high profile despite the fact that this model will exclude possible good applicants? Or perhaps is broad impact preferred even at the cost of loan quality? What’s the rationale for the suggested market placement?

just exactly How may be the danger handled and shared? Exactly how much will the institution that is financial in upfront money? Just exactly What portion (if any) of write-offs are recommended as assured? What’s the perfect relationship between interest charged and amount of loan loss help?

What’s the projected social and monetary effect (as an example, exactly how many dollars are required to be redirected far from interest re re payment)? What’s the projected profitability associated with model (if any)?

So how exactly does the proposed solution start thinking about lessons discovered from comparable models implemented in america and Canada by having a focus that is particular your local connection with the money Crunch pilot?

exactly How if the solution be implemented and what’s the price of execution?

Do you know the projected development possibilities beyond Calgary?

Project proponents may request a copy of Momentum’s Fair Financing concept paper that outlines work done up to now including detailed details about the money Crunch pilot task.


The next is a listing of minimal deliverables that are required

Submission Demands:

The applicant(s) will submit a proposition because of this Work project (a maximum of 5 pages) that have to are the after information:


A description for the approach you need to take into the ongoing work project, including a proposed work plan with a directory of tasks, methodology and a phased schedule reflecting the mandatory deliverables.

Resources, Qualifications and Sources:

Biographies for every single person that may be active in the work, explaining appropriate skills and experience that is demonstrating the location of system assessment. Two sources representing comparable or relevant work done by the applicant over the past couple of years, specifying the organization(s) to that your solutions had been delivered and a guide title for every single organization. Recommendations ought to include details and phone figures.

A estimate including per diem prices and believed time allocation for every specific active in the ongoing work, with totals summarized.


The task is anticipated to span a maximum of a couple of months and become complete by 2015 april.


Proposals should be submitted by November 11 2015. The proposition must certanly be provided for: Carolyn Davis

Carolynd at Community Relations Director Momentum try this #16, 2936 Radcliffe Drive SE Calgary, AB T2A 6M8

Resource list: Payday research that is lending: the true price of Payday Lending Municipal alternatives for Payday Lending Policy Change Provincial alternatives for Payday Lending Strategy Change Cash Crunch Information

Resources Available after signing privacy contract: Cash Crunch internal information Fair Finance concept brief