THE QUBE SOCIAL
The Qube Charitable Foundation is proud to announce the launch of our new Social Impact Fund.
What is Social Impact Investing?
Social Impact Investing (SII) is a theme of investing that focuses on generating a measurable and material social impact alongside a financial return. It allows us, at Qube, to push beyond traditional granting and create a direct impact with the charitable capital we have under management. The fund is not in lieu of our granting but supplementary.
Instead of investing in other funds to create a social impact, we want to create it ourselves. Hands-on and with big hearts, Qube is directly investing in Edmonton through the following areas:
Qube will purchase a set of properties in Edmonton and commit to keeping the rental rates 30-35% below the market for a decade. Not only that, we will under-go building renovations over the ten years, increasing the quality of life of our tenants and appreciating the value of the property.
After the ten years, the project will liquidate, leaving us a return from the increase in value to the property. Returns will be disbursed back into each donor-advised fund that invested in the project, and the donor can then decide where they would like to donate their charitable funds next.
Small Business Microfinancing:
Another goal is to relieve income strain on Edmontonians that are working hard for themselves and their families for minimal pay. A portion of our SII portfolio will be allocated to microfinancing independent service workers and vehicles for people who need them.
Many Edmontonians do not have the resources, help, or expertise to run their own business, so they end up working for a company that takes a large pay-cut. Qube wants to provide small-business loans to a specific market of workers (cleaners, painters, etc.), provide them with training on intuitive software that can help manage their schedules, and help them achieve autonomy. Qube will be there for the individual step-by-step to give them the best possible positioning for success.
Edmonton is not highly rated relative to other big cities when it comes to public transit. A job out in Nisku would require an hour and a half of travel time one-way. Lots of Edmontonians are forced to find lower-paying jobs elsewhere as they cannot afford to spend three hours a day commuting. Qube wants to provide safe and reliable used cars to these individuals at a low-yielding interest rate. In partnership with Good News Auto, our clients will get hands-on training with a professional mechanic to learn how to properly take care of a vehicle.
Microfinancing loans will also be positioned for liquidation after ten years. All donations and returns will go back into each DAF account, ready for disbursement as the donor sees fit.
Are you wanting to create an impact in our city?
There is power in the pooling of resources and donations.
There are two avenues to get involved: through Qube Private Equity Inc. or the foundation. Qube Private Inc. investments will be treated as traditional investments; principal and returns generated after the term will be disbursed back to the investor. No charitable tax-credit will be given as it is not a donation. There are different advantages to each avenue of getting involved.
If you would like more information, click below!
Looking to become a tenant or receive a microfinancing loan?
Click below to fill in our application form!
Thank you to our partners!