A government program that provides small businesses with loans has disbursed more than $2.45 million in the 2011-12 fiscal year, benefitting 224 successful applicants in Saskatchewan. The Small Business Loans Association (SBLA) has increased its loan limit from $15,000 to $20,000 effective July this year.
"As we celebrate small businesses this week, I would like to highlight the SBLA program that has been supporting small business in the province with loans for the past 23 years," Economy Minister Bill Boyd says.
We've recently increased the loan ceiling to encourage entrepreneurs interested in starting a small business to contact SBLA and contribute toward Saskatchewan's economic growth."
The province is also collaborating with business infosource, a government organization that provides free information to Saskatchewan entrepreneurs to help them start or grow their business.
"For almost two decades business infosource has provided a single window information service to entrepreneurs and potential entrepreneurs right across Saskatchewan," business infosource manager Elaine Unrau comments.
"We've seen many changes in the way we deliver information over the past 18 years, but what hasn't changed is our commitment to service excellence. It's been key to our success."
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 towards starting or expanding a small business. The SBLA program is available to Saskatchewan businesses. Funds are disbursed through 183 SBLAs that have been set up in communities across the province.
For more information email [email protected].
