Social purpose organizations require more than just grants to thrive – they need control over their financial future. Learn how different organizations are reshaping their funding strategies and how you can join the movement.
For many social enterprises, the biggest barrier to scaling impact isn’t innovation, dedication, or even demand – it’s access to flexible, patient capital. This was the heart of the conversation at Social Enterprise Conversations in Kelowna, where social enterprise leaders, funders, and investors gathered to explore how social finance tools can provide the financial stability needed to grow.
The event, hosted by Thrive Impact Fund and Purppl, brought together social enterprise founders, nonprofit leaders, impact investors, and funders for an evening of candid discussion.
The goal: To challenge outdated assumptions about funding social impact and highlight real alternatives that work.
Social Finance as a Tool for Growth
“Too many social enterprises are stuck in survival mode because they rely on traditional funding models that aren’t built for growth. Social finance provides an opportunity to shift from surviving to scaling.” – Andrew Greer, Purppl
A recurring theme throughout the evening was that grants and donations alone can’t provide long-term stability. While they are important, they often come with restrictions, short funding cycles, and administrative burdens that limit an organization’s ability to plan ahead. Social finance, including loans, community bonds, and revenue-based financing, gives social enterprises more control over their future.
Community Investment as a Path to Ownership
“People want to invest in their communities, but we need to create the structures that allow them to do so. Community bonds and impact investment funds are unlocking new ways for people to put their money where their values are.” – Lindsay Harris, Propolis Cooperative Housing Society
Propolis Cooperative Housing Society shared their journey in securing a $270K bridge loan and a $1.1M community bond, allowing them to develop net-zero affordable housing. Their experience proved that local investment is not only possible but essential for creating long-term community ownership of assets.
Social Enterprises Need to Think Bigger
“We talk about scale in the for-profit world all the time. Why should it be different for social enterprises? If we want real impact, we need to move beyond the mindset of just getting by.” – Aaron McRann, Community Foundation of the South Okanagan Similkameen
Aaron, Andrew and Lindsay challenged leaders to move beyond scarcity thinking and start looking at how to scale their work with the right financial tools. Instead of focusing solely on how to secure the next grant, social enterprises need to consider investment-ready models that create sustainable revenue streams.
Rethinking Risk: Social Enterprises as Investment-Ready Ventures
Too often, social enterprises are overlooked by traditional lenders – not because they aren’t viable, but because the system isn’t built for them. Outdated assumptions about risk in the social sector continue to hamper nonprofits’ ability to access the money that will enable the kind of growth that supports sustainability.
Many social enterprises generate revenue, create jobs, and solve critical social challenges, yet struggle to access financing. Impact-first funds like Thrive Impact Fund are filling this gap, ensuring that capital flows toward enterprises that are solving real problems.
Lessons for Scaling Social Enterprises
After the event, we asked attendees to share what they took away from the conversation. For photographer, guide, and artist coach Donna Koch it was a “shift in perspective toward a non-profit taking on a major asset, such as their own facility, with the potential for it to also generate income – it seems so obvious now.”
The big takeaway for Elaine McMurray of the Society of St Vincent de Paul: “that it is possible to achieve a dream, just takes stamina and will to move an idea forward.”
Here are three other big lessons:
- Social enterprises need financing that works for them.
Traditional funding models don’t always fit impact-driven organizations. Social finance tools give organizations the ability to to take control of their future, invest in their operations, and expand their impact without being tied to restrictive funding cycles. - Community-led investment is a powerful force for change.
The success of community bonds, shared equity models, and impact-first investing proves that people want to invest in the causes they care about. Social enterprises should look beyond philanthropy and consider how to bring their community into their funding strategy. - Risk is often a matter of perspective.
Social enterprises are already creating economic value and solving real-world challenges – the financing ecosystem needs to evolve to recognize and support these opportunities.
Continuing the Conversation in Kamloops and Beyond
The room was filled with energy, ideas, and next steps. Leaders left with a deeper understanding of how to leverage social finance to strengthen and expand their work – and how to start thinking about financing as a tool rather than a barrier. But this is just the beginning. Changing the way social enterprises are funded requires ongoing conversations and collaboration.
Lindsay, Aaron and Andrew will join another Social Enterprise Conversation in Kamloops on April 10 at The Stir, a social enterprise operated by the Kamloops Food Policy Council. They’ll be joined by The Stir’s Food Hub Director, Kent Fawcett.
Buy Tickets!
And reach out if you’d like to co-host a Social Enterprise Conversation in your community. We’ll be in Prince George this fall, and are working on a virtual offering as well.
Ready to Explore Social Finance for Your Organization?
If you’re curious about how social finance can work for your organization, reach out to Thrive Impact Fund and Purppl to explore options tailored to your needs.
Thrive Impact Fund removes barriers to capital for non-profits, charities, co-ops, and social enterprises that traditional lenders overlook. They provide flexible term loans (up to $500k), revenue-based financing (pay as you grow), and bridge financing (short-term funding to keep momentum going). Examples of Thrive investees include:
Propolis Cooperative Housing Society (Kamloops) – Used a $270K bridge loan and a $1.1M community bond to develop net-zero affordable housing, creating a model for sustainable, community-led housing solutions.
Water Rangers – Accessed early revenue financing to expand citizen-led water monitoring programs, protecting BC’s waterways.
Victoria Community Food Hub Society – Scaled regional food security initiatives, ensuring fresh, local food reaches vulnerable communities.
FireRein – Brought to market an eco-friendly alternative to toxic firefighting foam, reducing environmental harm.
Learn more about Thrive Impact Fund, which is jointly owned by Purppl and our good friends at Scale Collaborative, who originally launched Social Enterprise Conversations on Vancouver Island to create space for candid conversations about the social enterprise strategies that can scale impact.
