Tag Archives: AGM

venture-north

Community Futures Peterborough Announces Move to Strategic Location

FOR IMMEDIATE RELEASE

PETERBOROUGH – Community Futures Peterborough announced today at its AGM they will be moving to the heart of Peterborough’s fast-growing tech community and moving their offices into the Venture North building at the corner of George and King Streets.

“Strategic partnerships are key to the growth of our organization to provide greater and more effective financial services to clients in our community,” says Gail Moorhouse, Executive Director at Community Futures Peterborough. “This move allows us to be in a shared space with some of our key partners and to further strengthen those relationships all while reaching a new client base.”

The Board of Directors set an aggressive strategic plan in the fall with a key pillar to become more strategically aligned with key partners in the community. This move will allow the organization to become more visible in the downtown core and work closely with key community partners.

“The move into Venture North building provides us with the opportunity to better align our services with key partners,” says Board Chair Peter Gaffney. “We are thrilled to continue working on community projects that support the growth and expansion of local business and employment in our region.”

Venture North is currently home to several tenants, including key partners for Community Futures Peterborough, such as Peterborough and the Kawartha Economic Development Commission and the Innovation Cluster. Downtown Peterborough is also home for a significant number of tech start-ups and the new location will allow Community Futures staff to provide greater outreach and mentoring services to these growing companies.

The building where Community Futures Peterborough currently has their offices, at 351 Charlotte Street, will be advertised for sale in the coming weeks. It is expected staff will be in the location at Venture North by September 2018.

Community Futures Peterborough’s mission is to generate and assist in the creation and maintenance of sustainable employment opportunities in the City and County of Peterborough by supporting small businesses through flexible financing and business services. Since 1985, Community Futures Peterborough has invested $28 million in over 700 small businesses. Those businesses have created or maintained more than 3,300 jobs in the City and County of Peterborough.

Community Futures Peterborough is one of the 15 CFDCs in eastern Ontario funded by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). CFDCs deliver a wide variety of programs and services to support community economic development and small business growth. They employ local staff and are each governed by a volunteer board of directors, made up of local residents representing the community. The Community Futures Program promotes economic stability, growth and job creation leading to more diversified and competitive rural economies, and economically sustainable communities.

For more information, please contact Board Chair Peter Gaffney directly via Email 


Community Futures Assisted 130 Small Business Clients To Create 262 Jobs

 

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.

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For media inquiries, please contact:

Tonya Kraan, General Manager:  705-745-5434