HUDSON BAY AREA SBLA RECOGNIZED FOR 32 JOBS CREATED

Released on April 26, 1999

Carrot River Valley MLA Andy Renaud, on behalf of Economic and

Co-operative Development Minister Janice MacKinnon, today recognized

the Hudson Bay Community Loans Co-operative for its job creation

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



The co-operative has created 27 full-time jobs, five part-time jobs,

and maintained an additional 16 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.



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

to Len Elliott, the co-operative's chairperson.



"I am pleased to honour the Hudson Bay Community Loans Co-operative

for their efforts," Renaud said. "SBLAs are an essential component of

the province's focus on investing at the community level, working with

people to create employment opportunities in their own area."



Examples of local businesses assisted by SBLA loans include business

and book-keeping services, vehicle repair shops and various retail

outlets.



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 successes of the Hudson Bay Community Loans

Co-operative illustrate what can be accomplished when the

government and communities work in partnership," Renaud said.

"By working in partnership, the SBLAs are helping build our rural

economy, creating jobs, and keeping our province healthy and

strong."



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For more information, contact:



Bob Ellis

Economic and Co-operative Development

Regina

Phone: (306) 787-1691