Trusted Community Futures Platform Receives Targeted Investment of $40 Million
As an established and “trusted network” of rural economic development across southern Ontario, on February 13, 2023, the Honourable Filomena Tassi, Canada’s Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), along with Francis Drouin, Member of Parliament for Glengarry–Prescott–Russell, announced $40 million in targeted investment in the Community Futures platform. Thirty-six local CFDCs (as well as the three associations) will work to enhance growth and impact across the region with the support of FedDev Ontario (click here to view the official press release).
Through the Community Futures Program, Nventure provides knowledge and tailored on-the-ground support to rural businesses, organizations and communities. This includes providing business counseling and access to capital, as well as support for community economic development and strategic community economic planning.
“The Community Futures Program provides rural communities with an expanded toolkit of funding, alternative finance, and strategy services,” said Wendy Curtis, CEO of Nventure. “Wherever entrepreneurs, innovators, industry leaders, community champions and business owners of every type are thinking big for their ventures and their communities–where there will be true impact–Community Futures organizations are there and play a vital role in the success of countless projects.”
As of today, Nventure is already on track to achieve the most significant year of lending in the corporation’s history. “At no previous time have we had this depth and breadth of impact in Northumberland,” Curtis added. “The announcement from the Government of Canada today will position us to move from strength to strength.”
“We will continue to drive sustainable and inclusive economic growth,” said Susan Carmichael, Past Chair of the Board of Nventure. “Our organization is committed to strengthening regional competitiveness and creating jobs by supporting productive industries and visionary entrepreneurs. We are grateful to the Government of Canada for today’s announcement and investment in the Community Futures platform which will aid us in that mission.”
Click here to read about Nventure’s investment fund for businesses in Northumberland, and apply today for loans of up to $250,000 for business start up, stabilization or expansion.
