PROVINCE CELEBRATES JOB CREATION IN RURAL SASKATCHEWAN

Released on June 9, 2004

Three community organizations were recognized today at a special ceremony in Wynyard for their efforts in creating new jobs in rural Saskatchewan through the province's Small Business Loans Association (SBLA) program.

Industry and Resources Minister Eric Cline presented job creation certificates to:

· Saskatchewan Country Vacation Co-operative Ltd., based in Lumsden, for creating 29 jobs;
· Wynyard Economic Development Co-operative Ltd., for creating 58 jobs, and;
· Wynyard Small Business Loans Co-operative II, for creating 28 new jobs.

Together, the organizations have helped businesses create a total of 115 jobs. Since becoming SBLAs, they have made 95 loans totalling more than $600,000 to local businesses.

"Small businesses create jobs, support families and communities, and contribute greatly to the high standard of living for which Saskatchewan is known," Industry and Resources Minister Eric Cline said. "The SBLA program is tailored to meet the needs of small business owners, particularly in rural areas, by providing accessible loans."

The varied businesses that have benefited from loans from these three SBLAs include bed and breakfast establishments, greenhouses, florist shops, fitness centres, restaurants, bakeries, small manufacturing operations and businesses that service the oil, mining and forestry sectors.

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 239 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 inception of the SBLA program in 1989, loans totalling almost $46 million have been allocated to 8,721 small businesses. As a direct result of this activity, more than 19,000 jobs have been created or maintained.

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For More Information, Contact:

Shelley Fayant Industry and Resources Regina Phone: (306) 787-1691