Released on October 21, 2004
A rural Small Business Loans Association in Broadview was honoured today in a special ceremony recognizing its contribution to Saskatchewan's 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 Broadview and District Small Business Loans Co-operative Ltd., for helping to create 40 jobs.
Since becoming a SBLA, the association has approved 40 loans totalling more than $228,000 to local businesses.
"Jobs that didn't exist before now help to support local community members and their families, enrich the local economy and translate into spin-off benefits that resonate throughout the province," Wartman said. "SBLA organizations, such as the one honoured 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, over $48 million has been lent to more than 9,000 small businesses. 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 |