Driving Financial Inclusion in Scarborough

Improving access to low-cost, short-term credit for Scarborough's low-income residents

Scarborough community members gaining access to affordable short-term credit

Our Initiative

Our Scarborough Initiative is designed to support and empower small and micro-businesses (SMBs) within the region. The initiative addresses critical barriers in accessing capital, mentorship, and training for underserved business owners, with a focus on low-income and diverse communities. The two-year program aims to engage and support 800 SMBs, fueling $4 million in local economic activity.

How the Program Works

Community
Wallets

Businesses join groups that rotate savings to access interest-free credit and build credit history.

Credit
Building

Business owners can leverage rotating savings circles to pay off high-interest loans and strengthen creditworthiness and unlock more funding.

Low-interest
Loans

Access low interest micro-loans tailored to your business needs.

Key Initiatives in Scarborough

Partnership with ACBN
We're helping residents pay off payday loans and transition to more sustainable financial practices.
University of Toronto Scarborough
Our outreach booth helps students join Woveo and get started with our program.
Suya Spot Community Agent
Residents can join the program directly through our agent at Suya Spot, a trusted community partner.

Our Impact Goals

Support 800 small businesses to:

Access low-cost financing
Build creditworthiness
Drive economic activity

All through community-driven accountability.

Scarborough program community impact illustration

Testimonial

How Woveo Transformed My Financial Journey

Woveo's rotating savings program was a game-changer for me. I felt overwhelmed by a small loan piling up with interest, but Woveo helped me pay it off faster than I imagined. Their support made it easy to stay on track, and I'm so grateful for the financial relief!
Marian
Scarborough Resident