Released on October 12, 2006
The Cypress Loans Co-operative Ltd. in Shaunavon was recognized at a special ceremony today for its efforts in creating and maintaining jobs in rural Saskatchewan through the province's Small Business Loans Association (SBLA) program."On behalf of the Government of Saskatchewan, I'd like to thank this organization for its dedication and hard work, which has helped grow the provincial economy and improve the quality of life in this region," Deputy Premier and Regional Economic and Co-operative Development Minister Clay Serby said. "The Cypress Loans Co-operative Ltd. should be commended for their tremendous work, the result of which is the creation and maintenance of 32 jobs in the region."
Under the SBLA program, the Government of Saskatchewan provides funding up to $200,000 to community-operated SBLA organizations. In turn, the SBLAs use the line of credit to make loans of up to $15,000 to new and existing businesses.
There are currently 238 active SBLAs in the province. Community-based interest groups, co-operatives, corporations, rural development corporations and Regional Economic Development Authorities (REDAs) can form SBLAs – most of which are located in rural areas.
"The SBLA program is tailored to meet the needs of small business owners, particularly in rural areas, by providing accessible loans and encouraging entrepreneurial growth throughout the province," Serby said. "Small businesses diversify the economy, create jobs, support families and communities, and contribute greatly to the high quality of life for which Saskatchewan is known."
Since the inception of the SBLA program in 1989, more than $57 million has been loaned to more than 8,500 new and existing businesses. As a direct result of this activity, more than 13,000 jobs have been created or maintained.
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For More Information, Contact:
| Donna Rehirchuk Regional Economic and Co-operative Development Regina Phone: (306) 787-2359 |