Join the journey, as Ottawa’s spaces of faith become more sustainable!

The Faithfully Green Fund

Our Services

  • Investment Opportunity

    We offer the public a chance to invest in the Faithfully Green Fund where they can grow their money and know that it will be invested into eco-friendly community projects.

  • Loan Opportunity

    We offer faith communities easily accessible, low interest loans which can go towards funding green retrofit projects of their choosing.

FGF Investments.

The Faithfully Green Fund is financed via a unique social finance tool called Community Bonds. Individuals and Institutions can purchase Faithfully Green Bonds and earn a fixed return while their funds are being loaned to faith spaces for their retrofit projects. The Sustainable Capacity Foundation controls the finances of the FGF and their investment goal is to raise $1M by the end of 2024- which is its second year fully running. During the pilot year in 2023, $642,000 was invested into the FGF and 4 faith communities completed successful retrofit projects.

Over the next 10 years, the FGF will fund 150 projects and impact a minimum of 100 Ottawa faith and spiritual communities.

We are seeking passionate individuals looking to invest in community projects. Investors, both individuals and institutions, can purchase these bonds starting at a minimum of $1,000.


→ Bond Funds Support Green Retrofits: The funds raised from the sale of bonds are then loaned to faith communities to finance green retrofit projects. These projects, big or small, can range from energy-efficient HVAC systems, to installing electrical vehicle charging stations, to completely transitioning to solar power systems!


→ Faith Communities Repay Loans: Faith communities repay the loans with interest over a 5-7 year period, ensuring the financial sustainability of the fund. Bond investors, in turn, receive a fixed interest rate over the term of their investment.


→ Reinvestment Opportunities: At the end of the bond term, investors can choose to reinvest in any available bond offerings, perpetuating the cycle of sustainable investment

Types of Series Investments

Series A

  • 4% interest

  • Minimum $50,000 investment

  • Minimum 7-year term

Series B

  • 3.5% interest

  • Minimum $20,000 investment

  • Minimum 5-year term

Series C

  • 3% interest

  • Minimum $1,000 investment

  • Minimum 5-year term

FGF loans.

Be the change & support your community needs

Greening Sacred Spaces is raising $1 million in Community Bonds to support LOCAL Faith-Based Organizations with their Retrofit Projects. Over the next 10 years, we plan to fund 150 projects; impacting a minimum of 100 Ottawa faith and spiritual groups using the Faithfully Green Fund Community Bond.

Overview

In an era when climate change is a pressing concern, various sectors across Canada are striving to reduce their carbon footprint and adopt sustainable ways of life. One area that is often overlooked in this endeavor are faith-building organizations. Spaces of faith and spiritual worship play a vital role in our communities but face financial barriers when it comes to funding retrofits to reduce their carbon emissions.

Thus the Faithfully Green Fund was created by the Sustainable Capacity Foundation (SCF) in partnership with Greening Sacred Spaces Ottawa (GSS), to address the barriers that faith-building organizations face in funding retrofits and the collective request for financial assistance from our network. It is an investment opportunity that reduces these barriers by providing financial support, primarily for sustainable retrofit projects, in the form of advantageous commercial rate loans. It provides low-interest financing to Ottawa-based faith spaces seeking $10,000-$250,000 to implement a green retrofit project. This financial support makes it easier for faith communities to take meaningful action toward reducing their carbon footprint.

Did YOU KNOW?!

Between 2006-2014, over 40 faith communities in our network conducted a building audit to identify retrofit opportunities. However, few of these communities to date have been able to implement the recommended retrofits due to barriers to accessing financing. This fund will be accessible to all faith communities and spiritual groups (i.e. churches, gurdwaras, mosques, temples, and synagogues). We aim to reach a diverse range of communities and individuals, as each group typically has individual members ranging in age, culture, and income class. Having sufficient financial support to properly maintain their sacred spaces and building operations are an essential need for many of these groups, especially with the added strain of the COVID-19 Pandemic.

See the map for the geographic boundaries that the Faithfully Green Fund covers.

How to Apply

The first step is to fill out our expression of interest form, after which SCF will contact you to learn more about your project and help you through the planning process. This gives us a chance to both meet you and understand what type of project your organization is interested in. Our team will be there every step of the way to answer questions and provide expert sustainability advice! Once the details of your project are final, we will invite you to complete a secondary application which goes into the specifics of your plan. Once this application is received, GSS and SCF will conduct due diligence to ensure your project’s success. After your project is approved, we will draft a loan contract to confirm the arrangement.

Additionally, we understand that some faith communities may have concerns related to interest payments. In such cases, the FGF offers alternative options to ensure that all faiths can participate in this initiative while respecting their beliefs.

Potential Projects

Sign Up for an Information Session

  • Investment Information Session

    March ___ 5:00-6:00PM EST

    These monthly information sessions will tell you everything you need to know about investing into the Faithfully Green Fund. We will go over the types of investments you could make, an overview of the investment process, how you will stay updates, as well as the history, need, and goals for this fund

  • Loan Information Session

    March ___ 5:00-6:00PM EST

    These monthly information sessions will cover everything you need to know about taking out a loan from the Faithfully Green Fund. We will go over examples of green retrofit projects, the application process, how we can support you, as well as the history and goals of the Faithfully Green Fund.

 FAQs

  • We encourage you to choose whatever funding option is best for you. Whether you need the full funding amount for your project, or just a portion we're here fore you. We've found that faith communities often have trouble securing bank loans, especially if their services take place in a community building that they don't have sole ownership of. Also government funding for these types of projects is typically paid out after the project is finished, so we help faith communities bear the upfront cost.

  • First, please fill out the the application above to indicate interest and to give us an idea of the type of projects and an estimate of the loan amount. After that, we will send you a more thorough application form that will go into detail about the projects you would like to undertake, the amount of interest from the congregation, your past experiences with projects, and other details. We will also a schedule a meeting to help with the application process.

  • No! The primary application is an expression of interest to get the process started, it is not a commitment to doing a project. We know project timelines and details are subject to change. You are only locked in once you sign the contract depicting the terms of you loan agreement and project.

  • Our standard rate is 5%, while banks currently have a prime rate of 7.2% (January 2024)

  • No, faith communities are not required to provide any collateral on the loan.

  • The funds can be used for a number of different green retrofits. This can be any sort of upgrade or retrofit that will improve the energy efficiency of the building. Some examples are upgrading your HVAC system, installing heat pumps, improving your insulation, replacing your roof, and many more. The funds may also be used to implement renewable energy sources (solar panels). If you're not sure if the FGF would apply to your project, just ask!

  • Hypothetically, yes, but it would be done in stages. There is a $250,000 cap on the loan amount for each project. You can complete multiple projects at once, but we haven't worked with your faith community before we always start with one.

  • We will have funds available at minimum for the next seven years. Currently we have secured a significant amount of funding and we're working on getting projects started- so now is the perfect time to apply! If you're considering doing a project with us in the future, fill out a primary application and we'll keep you in mind as well as notify you if our funds are running out.