For Immediate Release
Over $1.7 million in financing provided to local businesses
Thorold, ON - Venture Niagara Community Futures Development Corporation celebrated another strong year of support for Niagara’s entrepreneurial community at their June 27 Annual General Meeting. The organization has been part of the Niagara region’s small business ecosystem since the mid 1980’s and is funded by the federal government through FedDev Ontario.
This past year Venture Niagara provided 24 start-ups and expanding businesses with more than $1.7 million in repayable financing. Board Chair Mike Panich states, “Our volunteer Board of Directors and Loan Committee members are very enthusiastic about providing the much needed financial support for businesses looking to start or grow their operations in the Niagara Region. We take our responsibility very seriously when we assess the viability of companies looking for financing whether it is for $5,000 or $500,000.”
“Venture Niagara is very active throughout the region in providing access to capital and carrying out our Community Economic Development projects,” notes General Manager Frank Rupcic. “We typically approve more than one million dollars in financing in any given year. This is often leveraged by the owners’ financial contributions and support from additional lenders too. At any given time we are working with approximately eighty-five active clients as we provide financing, monitor the business for successes and challenges and even collect on loans that go into default if needed.”
“The Community Economic Development projects we are involved with are often tourism related,” says Susan Morin the group’s Community Economic Development Manager.” Our Niagara Tourism Network https://www.niagaratourismnetwork.com/ is a popular monthly meeting for tourism professionals to learn about activities and opportunities in and around the region’s various tourism properties. The bilingual Niagara Cycling Tourism Centre http://www.niagaracyclingtourism.com/ handles numerous request about cycling in the region and our just launched Art in the Open www.artintheopen.ca site promises to be very popular with cyclists and tourists from Niagara and outside of the region too. We are also very integrated with Niagara’s francophone community as we are embarking on the development of a French Awareness Campaign working with francophone individuals, businesses and organizations to compile the French language and cultural assets available to the greater Niagara community.
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