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CANWOOD AREA SBLA RECOGNIZED FOR 53 JOBS CREATED

Released on April 16, 1999

Shellbrook-Spiritwood MLA Lloyd Johnson, on behalf of Economic and

Co-operative Development Minister Janice MacKinnon, today recognized

the Canwood Economic Development Co-operative for its job creation

record through the Small Business Loans Association (SBLA) program.



The co-operative has created 45 full-time jobs and eight part-time

jobs. During 1998, small businesses supported by the SBLA program

created more than 360 jobs and maintained over 565 more, mostly in

rural communities. This brought the total number of jobs created and

maintained since the program began to almost 12,800.



Johnson presented a job creation certificate, on behalf of MacKinnon,

to Lorne Benson, chairperson of the co-operative.



"I am pleased to be able to honour the Canwood Economic Development

Co-operative in this way," Johnson said. "SBLAs are an important part

of the government's focus on investing at the local level, working

with people to create jobs and opportunities in their own

communities."



Examples of local businesses assisted by SBLA loans include home

improvement operations, value-added agriculture industries and retail

businesses.



Under the SBLA program, the government provides funding to local

SBLA organizations. In turn, SBLAs provide loans to businesses

that have experienced difficulty accessing financing through

traditional means.



Improvements to the program announced in the new provincial

budget include an increase in each SBLA's interest-free revolving

line of credit from $50,000 to $100,000. As well, an SBLA can

now make loans to a maximum of $10,000, up from $5,000.



"The job creation initiatives of the Canwood Economic Development

Co-operative are an example of what can be achieved when the

government and communities work together," Johnson said. "The

growth brought about by the SBLAs plays a vital role in building

our rural economy, creating employment opportunities, and keeping

our society healthy and strong."



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For more information contact:



Bob Ellis

Economic and Co-operative Development

Regina

Phone: (306) 787-1691

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