Opportunity for investors: Garantie Solidaire

Garantie Solidaire is a loan guarantee program for Quebec-based social enterprises, non-profits and cooperatives that are tackling complex challenges.

The program was launched in October 2018, and has already supported a diverse group of organizations working on initiatives related to mental health, arts and culture, inclusive employment, and social-purpose real estate. The founding partners are La Caisse d’économie solidaire Desjardins, McConnell Foundation, Chagnon Foundation, and Saputo Foundation.

Organizations who want to apply to the program must contact the Caisse d’économie solidaire Desjardins. http://www.caissesolidaire.coop/garantiesolidaire.html.

Opportunities for investors

The founding partners welcome new investors — foundations — that are interested in helping grow Quebec’s social economy. Garantie Solidaire’s starting capital was $15 million, and additional resources will help us create even more positive impact.


Garantie Solidaire responds to a proven market need:

  • cooperatives, social enterprises and non-profits require access to capital to fund their development and capacity building, but are often perceived by traditional financial institutions as having high credit risk.
  • such organizations cannot issue equity shares and are restrained in their capacity to provide collateral assets.
  • many social economy organizations lack historical experience as borrowers, and benefit from guidance in structuring advantageous deals that serve their long-term needs.

Through this program, foundations leverage the strength of their balance sheets to support community organizations. By participating in a pooled program with other loan guarantors, foundations support multiple organizations through a single deal structure, reducing transaction costs and risks.

Partners  in Garantie Solidaire are able to choose the projects that they support based on alignment with their missions. A project can be supported by one or several foundations in the partnership. Ongoing investment in Garantie Solidaire will enable new loans and/or reduce the cost of capital for social economy organizations.


To find out about joining the partnership, contact the McConnell Foundation’s Solutions Finance team:

Erica Barbosa Vargas
T: (514) 288-2133
E: ebarbosa@mcconnellfoundation.ca