Social Capital Partners has engaged SRDC to evaluate the impact and return on investment of the Ontario Community Loans Program (OCLP). The OCLP is a joint initiative between Social Capital Partners (a non-profit organization that develops innovative social finance solutions) and the Ministry of Economic Development, Employment and Infrastructure (MEDEI), in partnership with employment service providers and financial institutions. Through the OCLP, low-income jobseekers facing employment barriers are matched with job opportunities at small- and medium-sized employers (SMEs).
SMEs who hire and retain jobseekers for at least six months pay reduced interest rates on their business loans through reimbursements provided by the Ontario government. SRDC is conducting an impact evaluation to examine the extent to which the OCLP leads to increased employer reach among employment service providers, improved employment outcomes for low-income jobseekers, and improved business outcomes for SMEs, as well as a cost-benefit analysis to assess the extent to which OCLP yields a net return for the Ontario government.
Published: January 2017
Capability: Program Evaluation/ Performance Measurement - Socio-economic Impact Assessment
Policy Area: Employment - Employment Supports and Services, Social Finance
Population: Low-income Populations - Low-skilled Workers - Social Assistance Recipients - EI Recipients