Coralus (formerly: SheEO Ventures )

By mmuise
Description:

Coralus brings together hundreds of radically generous women called Activators who contribute $1100 each (or twelve monthly payments of $92) for Australia, Canada, New Zealand and the USA; or £850 (or twelve monthly payments of £71) for the UK. That money is pooled and then loaned out in the form of 0%-interest 5 year loans to women-led Ventures whom the Activators help select. As the money is paid back into the fund, it’s loaned out again to support more women-led Ventures each year.


Comments on Funding:

Funding takes the form of interest-free loans.
The 0%-interest loan has a five-year term for each Venture. Ventures pay back their loans in 20 quarterly installments over a five year period.

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be majority owned (51%+) and majority led by cis or trans woman, non-binary, gender-fluid or gender nonconforming people;
  • have generated between $50K – $2M in Canada, in recurring revenue, from customers, in the last 12 months;
  • be registered as a legal entity in the region for which they are applying;
  • be for-profits, not-for-profits or charities that generate revenue and can pay back a loan over 5 years.

Application Steps:

Applicants must:

1. submit their application by answering key questions about their model and their impact;

2. submit financials and a video introducing their companies, if invited;

3. attend a retreat, if selected.

Documentation Needed:

Applicants must submit:
1. financials;
2. a video describing their company.

Other Things to Note:

February 2024: website inaccesible.

About the author
mmuise