A government loans program that helps small businesses has raised its lending ceiling from $15,000 to $20,000 effective immediately. The Small Business Loans Associations (SBLA) increase has been initiated to better meet the business needs of today's entrepreneurs.
"Supporting entre-preneurship is a major focus of our economic development agenda and this increase will open more opportunities for business people," Economy Minister Bill Boyd said. "The SBLA program has been valuable in supporting our entre-preneurs when most funding options have been exhausted. Small business is big business in Saskatchewan, employing over 140,000 people and generating millions in revenue."
The SBLA program is designed to provide loans to small businesses that may have difficulty obtaining financing from banks and other traditional lending institutions. The funds may go toward starting or expanding a small business.
The SBLA program is only available to Saskatchewan businesses. Funds are disbursed through the 183 SBLAs that have been set up by communities across the province. Currently there are 11,092 loans that have been issued to business people.
