Dan Stanford, Chair of the Board of Directors for the Greater Peterborough Business Development Centre, Inc. (operating as Community Futures Peterborough) reported a strong year of performance at their annual general meeting today. “Last year the Board of Directors invested $2,006,602 in loans to help small businesses create jobs. This brings the cumulative total of jobs Community Futures loan clients have maintained or added to their workforce to 3344 over the past 30 years” said Stanford.
For the period ending March 31, 2015, Community Futures Peterborough provided financial or advisory support to:
- 40 new businesses
- 90 existing businesses
These 130 small businesses created 262 jobs within Peterborough County. The Corporation received $811,785 in government funding to support those companies, resulting in an average cost per new job of $3098.
For the period ending March 31, 2015, Community Futures Peterborough disbursed:
- $2,006,602 in secured term loans through the Community Futures Program
- $451,100 in non-repayable contributions through the Eastern Ontario Development Program
“Community Futures was a great resource for us to not only fund our startup but also offered a wealth of contacts and services that helped us succeed with our new company” said client Alex Bushell of Lab Improvements, “here we are, 9 months later with 4 employees…”
The total value of the Investment Fund as of March 31, 2015 was $7,572,161 which has grown by 389% since incorporation in 1985. Community Futures does not receive government funding to grow this fund. The investment fund has grown due to the financial health of the 672 small businesses that have been supported by Community Futures Peterborough over 30 years. Their repayments are continuously reinvested into other small businesses in Peterborough County.
About Community Futures Peterborough
For 30 years, Community Futures staff and volunteer Board of Directors have been tailoring flexible financing solutions to each small business – from startup through to expansion, loans are available up to $250,000.
For media inquiries, please contact:
Tonya Kraan, General Manager: 705-745-5434