$100 Million Initiative to Boost Rural Entrepreneurship in Atlantic Canada
October 16 - Mulgrave, Nova Scotia
The Atlantic Association of CBDCs / Association atlantique des CBDC, in collaboration with BDC, is pleased to launch a transformative $100 million initiative aimed at expanding access to financing and expert advice.
CBDCs help entrepreneurs grow their businesses, create jobs, and strengthen local economies in rural Atlantic Canada. By joining this network of trusted partners, CBDC/Community Futures/SADC+CAE and BDC, this initiative will dramatically extend our reach, allowing us to support even more business owners in rural and remote communities, fueling entrepreneurship, driving job creation, and generating lasting economic growth across the region. CBDC meets entrepreneurs where they are and helps them every step of the way.
“Joining forces with BDC to supercharge the opportunities and resources available to rural and remote entrepreneurs from coast-to-coast-to-coast is a powerful combination that will result in significant impact throughout the country for decades to come," said Troy Dungate, President of Community Futures Network of Canada “BDC is committing to investing $100M to bolster businesses that often face strong headwinds simply due to geography and the vast nature of our country. This commitment, combined with our boots-on-the-ground, grassroots knowledge is an intelligent way to ensure that this capital infusion is dispersed through loans to new and existing entrepreneurs that are ready to bring their business to the next level. Additionally, we know that many entrepreneurs in rural Canada are attracted to the work because of the desirable lifestyle it creates for their families. Working together, we expect this to make positive, meaningful change in the lives of individual Canadians and our country as a whole.”
About Community Futures Network of Canada (CF/SADC+CAE/CBDC)
The Community Futures Network of Canada (CFNC) represents 267 Community Futures Organizations (CF/SADC+CAE/CBDC ) - non-profit community economic development offices in rural and remote communities from coast to coast to coast. A true grassroots organization, CFNC is bolstered by passionate people: 2,951 board volunteers and 1,230 staff. Together, they cleverly and compassionately apply their local knowledge and experience to make local decisions to support their communities and entrepreneurs. Each CFO provides business development services, loans, and financing to small and medium-sized businesses as a developmental lender. CFOs play a pivotal role in rural and remote communities by providing access to financing and tailored supports that start, grow, and sustain businesses where no other supports exist. Together, we strengthen local economies, create jobs, enhance community cohesion, nurture local economies and contribute to the country's global competitiveness.
In Atlantic Canada there are 41 CBDC locations dedicated to supporting and growing the small business community by providing access to capital, training, and advisory services.
“This $100 million initiative marks a pivotal moment for rural entrepreneurship in Atlantic Canada,” said Wayne Power, President of the Atlantic Association of CBDCs. “By deepening our collaboration with BDC and our network of trusted partners, we’re expanding our ability to meet entrepreneurs where they are—offering the capital, advice, and support they need to grow their businesses, create jobs, and build stronger local economies. This is about unlocking potential in every corner of our region.”
About BDC: 80 Years as Canada’s bank for entrepreneurs
BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the most innovative firms. BDC’s development role means we are in a state of perpetual evolution – wherever entrepreneurs go and whatever the Canadian economy needs – we will be there to help them defy the odds. 80 years later, that commitment remains very much alive.