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New loan program to support business recovery launching June 1

(Fort McMurray, AB – May 24, 2017) – Starting June 1, 2017, businesses in the Regional Municipality of Wood Buffalo will have access to a new loan program through Community Futures Wood Buffalo. This program will bolster the economic recovery of the entire region by providing support for new and existing urban, rural and indigenous businesses.

The Wood Buffalo Recovery Loan Partnership program ensures timely access to capital not normally available through traditional lenders. 

Business owners are invited to apply for the program through Community Futures Wood Buffalo starting on June 1, 2017. Completed applications will be reviewed within 10 days.

“Community Futures Wood Buffalo Region is uniquely positioned to deliver the Wood Buffalo Recovery Loan Partnership program to businesses throughout the region requiring timely access to financing in order to expedite their recovery timeline and/or take advantage of new opportunities presented in the region,” said Community Futures Wood Buffalo Chair Matthew Creighton.

The Regional Municipality of Wood Buffalo is providing a $2 million grant to Community Futures Wood Buffalo for the delivery of this program, which is the direct result of a collaboration between local businesses, support organizations and lenders. 

“We are confident that this program is complementary to existing resources for the businesses in this region that are working hard to recover and grow,” said Kelly Hansen, Economic Development Manager for the Recovery Task Force. “The program fills a gap in what’s available from traditional lenders and will help Community Futures Wood Buffalo continue to support new and existing business owners.” 

The grant is being provided through the Municipality’s Community Investment Program. The funds will also support the development and expansion of the services at Community Futures Wood Buffalo.

To learn more about this program, visit rmwb.ca/recovery.

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Contact:
pio@rmwb.ca

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