Work at CSI for the day with our new Lounge Pass!

The Mortgage Replacement Community Bond

What’s the Big Idea?

In a nutshell: we want to replace what remains of our $18 million bank mortgage with Community Bonds. We want to be 100% community financed, by Community Bonds. And we need your help to do it.

What's the point?

We have loved working with our partners at the Alterna and VCIB; they’ve helped get us to where we are today. Bless you all, we couldn’t have done it without you! But in 2024 even they are facing immense market pressure on commercial interest rates. As much as they have tried to shield community spaces like CSI from these harsh economic conditions, we are facing significantly higher mortgage rates than we can afford. For the first time ever, mortgage interest will become our highest single expense, despite borrowing only half the value of our buildings.

How would this Community Bond Help?

Great question! It will help CSI, because we can set an interest rate that reflects CSI’s value as a community space, its own real financial capacity, and its service to the people working hard to change the world. CSI would not be subjected to the huge new premiums that are now assigned to the abandoned concrete graveyards that were always a necessity of work, never community spaces. 

They would also help you, our community of supporters. If CSI must pay interest, then we would rather pay it to the people and organizations who support us, and who support the sector. Not to the far-away money markets that don’t even know what a CSI is. Do you think the world needs CSI?

Who is it for?

With an 18MM need, we’re looking for major impact investors — foundations, family offices, and social finance funds. We’re looking for a few big investments of $500K – $5MM. Major partners in our sustainability.

What’s the offer?

To make it easy for you to invest, we’ve created two types of bonds to choose from: an Impact Bond or a Major Partner Bond.

Impact Bond

Rate: 4.5%
Term: 5 Year
$10,000 Minimum

Major Partner Bond

Rate: 5%
Term: 5 Years
$500,000 Minimum

HOW CAN I HELP?

For now, we want to know if there is interest. Do you need CSI? Do you want us here? We’ve always been able to count on our people. Hundreds of our current and former members are already impact investors at CSI. 

But this is the kind of need that requires our institutions to step up too. Do you wield real power in the impact finance realm? Let’s talk. 

At this stage we’re gathering feedback. If you want to help ensure CSI is here for the next generation of changemakers, send us an email at communitybonds@socialinnovation.ca