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GLASLYN/MEDSTEAD AREA SBLA RECOGNIZED FOR 58 JOBS CREATED

Released on April 19, 1999

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

Co-operative Development Minister Janice MacKinnon, today recognized

the Glaslyn/Medstead Economic Development Co-operative for its job

creation record through the Small Business Loans Association (SBLA)

program.



The co-operative has created 51 full-time jobs, seven part-time jobs,

and maintained an additional 25 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 Randy Kirkland, the co-operative's chairperson.



"I am pleased to be able to honour the Glaslyn/Medstead Economic

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

important part of the province's focus on investing at the local

level, working with people to create employment opportunities in their

own communities."



Examples of local businesses assisted by SBLA loans include

restaurants, vehicle repair businesses and wood product

operations.



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 efforts of the Glaslyn/Medstead Economic

Development Co-operative are a great example of the Saskatchewan

spirit of co-operation government and communities working

together towards a common goal," Johnson said. "The growth that

is initiated by SBLAs plays an important role in building our

rural economy, creating jobs, 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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