JOB CREATION CELEBRATED IN NEUDORF

Released on December 6, 2004

A Small Business Loans Association in Neudorf was honoured today in a special ceremony recognizing its contribution to Saskatchewan's rural economy and its community.

Agriculture and Food Minister Mark Wartman presented a Small Business Loans Association (SBLA) job creation certificate on behalf of Industry and Resources Minister Eric Cline to the Neudorf Economic Development Co-operative Ltd. for creating 36 jobs.

The association has approved 22 loans to local businesses since becoming an SBLA in 1990, for a total amount of $134,881.

"These loans help to support local community members and their families, enrich the local economy, create jobs in rural Saskatchewan, and produce benefits that contribute to economic growth in the province," Wartman said. "SBLA organizations, including the one recognized today, help to strengthen and revitalize hundreds of our rural communities."

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 more than 240 active SBLAs in the province. Community-based interest groups, co-operatives, corporations, rural development corporations and Regional Economic Development Authorities can form SBLAs – most of which are located in rural areas. Since the program's inception in 1989, more than 9,000 small businesses have received loans totalling over $49 million dollars. More than 20,000 jobs have been created or maintained as a direct result of this activity.

A new enhancement to the program is the Youth Opportunities Unleashed (YOU) initiative, which provides loans, training and mentorship to young entrepreneurs between the ages of 18 and 30.

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For More Information, Contact:

Bob Ellis Industry and Resources Regina Phone: (306) 787-1691