Seed Funding of $4 Million Now Available from CMHC

Canada Mortgage and Housing Corporation (CMHC) is announcing today seed funding of $4 million this year for the development of affordable housing.

“CMHC is committed to helping Canadians access safe affordable housing,” said Karen Kinsley, CMHC President. “One way to achieve this is by providing support in the early stage of developing affordable housing projects. “With Seed Funding, CMHC provides financial assistance to develop a sound business case, allowing groups to make a solid start on their housing projects.”

Through Seed Funding, a successful applicant can receive as much as $ 20,000, including an upfront grant of up to $10,000. As progress is made on the proposal, a repayable interest-free loan of up to $10,000 can also be made available.

Effective today, CMHC will accept Seed Funding requests throughout the year, allowing applicants to receive the funding at a time which suits their housing project development schedule. Previously applicants were eligible to apply only within specified time-limited periods.

This initiative, delivered by CMHC’s Partnership Centre, is intended to support housing providers in developing solutions for community housing needs. The funding is eligible to be used for activities such as a needs analysis and a business plan.