MEDA Promissory Notes for Canadian Investors
Canadian residents Canadians
who wish to invest in the poor can purchase Promissory Notes from
Mennonite Economic Development Associates of Canada (MEDA); MEDA will
invest and on-lend this money to the MicroVest Fund.
Purchasing a Promissory Note The
minimum investment is $1,000. Promissory Notes can be purchased in
multiples of $1,000. The income earned depends on the length of time
invested. You can also choose to forgo your interest by selecting a
rate of 0%, thereby helping MEDA in its economic development programs.
Interest Rate Schedule - Promissory Notes US$ and CD$
Effective November 1, 2009 |
Amount |
1 year notes |
3 year notes |
5 year notes |
Up to $100,000 |
2.0% |
2.0% |
3.0% |
$100,000 to
$500,000 |
3.0% |
3.5% |
4.0% |
Over $500,000 |
3.5% |
4.0% |
4.5% |
Unfortunately, we are able to offer such Promissory Notes (under
exemptions granted to charitable institutions), only to residents of
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova
Scotia, Prince Edward Island, and Newfoundland and Labrador. The
information provided herein does not constitute an offer to sell or
solicitation to buy securities in any province in which such offer or
solicitation is not authorized.
Tax Considerations:
Income paid on Promissory Notes will normally be taxable as interest
income. Donations to MEDA Canada will normally be tax deductible.
Investors' individual tax circumstances vary. This does not constitute
individual tax advice; investors should seek professional tax advice.
RRSP:
MEDA Canada has not registered these Promissory Notes with any trustee
of Registered Retirement Savings Plans (RRSP) and does not offer RRSP
accounts. Further, MEDA Canada has not requested or received a
determination of whether a Promissory Note would or would not qualify
as an investment for a self-directed RRSP account.
To request an Offering Memorandum, please email
