The Ontario government is launching the country's first microloan fund to help social enterprises -- businesses that have a positive social, cultural, or environmental impact while generating revenue -- create more jobs and strengthen local communities. 

The province has partnered with the Centre for Social Innovation, TD Bank Group, Microsoft Canada, Alterna Savings, KPMG and Social Capital Partners to launch the Ontario Catapult Microloan Fund.

Under the fund, social enterprises that help solve a social, environmental, cultural or economic problem, such as youth unemployment, may qualify for a loan of $5,000 to $25,000 and support services like mentorship.

Ontario is also launching a new Office for Social Enterprise led by Special Advisor Helen Burstyn. The office will promote social entrepreneurship across Ontario, partnering with the private, not-for-profit and public sectors to coordinate and expand the tools available to social entrepreneurs.  

Providing the right climate to attract investment, create jobs and grow the economy is part of the new Ontario government's plan to build a prosperous and fair province for all.