Released on August 25, 2003
Four community organizations in southwest Saskatchewan were recognized today for their job creation records through the province's Small Business Loans Association (SBLA) program.
SBLAs in Gravelbourg, Ponteix and Assiniboia have helped businesses create a total of 122 jobs and maintain 130 others. Since becoming SBLAs, they have made 174 loans totaling more than $1 million to local businesses.
Industry and Resources Minister Eric Cline presented job creation certificates to four SBLAs today at separate events.
• The Gravelbourg Small Business Loans Association which created 28 new jobs and maintained another 59.
• The New Idea Loans Co-operative Ltd. in Ponteix which created 31 positions and maintained another 23.
• In Assiniboia, the South Central Loan Association Inc. which created 29 new jobs and maintained 18 more, and South Country Development Limited which created 34 jobs and maintained another 30.
"Small businesses are key drivers of the Saskatchewan economy. Through the SBLA program we are helping entrepreneurs take advantage of Saskatchewan's many opportunities for a wide open future in our province," Cline said. "The province is pleased to encourage local investment, which helps to strengthen and revitalize our rural communities."
SBLA loans have assisted a wide variety of local businesses, including greenhouses, meat and butcher shops, bakeries, hotels, welding and manufacturing, insurance sales and other retail and service businesses.
Under the 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.
Currently there are 271 SBLAs in the province. SBLAs are formed by four or more community-based interest groups – individuals, partnerships, co-operatives or corporations – most of which are located in rural areas. Since the inception of the SBLA program in 1989, loans totaling almost $44 million have been allocated to 8,383 small businesses. As a direct result of this activity, 18,448 jobs have been created or maintained.
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For More Information, Contact:
Bob Ellis Industry and Resources Regina Phone: (306) 787-8277 |