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Lending From Small Business Support Centre Offers Big Returns

Friday, 12 February 2016 06:37

According to recent research by The Conference Board of Canada every dollar loaned by the OSBSC gives the GDP a big boost.

INGERSOLL - The Conference Board of Canada recently did a research project looking at the Ontario Association of Community Futures Development Corporations.

They were looking at the economic impact on Ontario of the lending services provided through the Community Futures Lending Program from 2009-2014. What they found was the programs offer more bang for your buck and provides a positive impact on the economy. 

General Manager of the Oxford Small Business Support Centre Allan Simm tells Heart FM that the program is showing its worth.

"For every dollar that we at the Small Business Centre lend, as much as $4.50 is added to the real Gross Domestic Product. Now Gross Domestic Product, or GDP, is the total value of everything: goods and services produced in our economy." 

Simm says the small business centre is designed to help entrepreneurs in Oxford County and they will help you start your business and apply for loans. 

"There is funding available and of course we have funding that can help with purchasing equipment, working capital, expanding your business, purchasing businesses, so it really is a great opportunity for entrepreneurs in Oxford County." 

Since 1993, the centre has supported hundreds of entrepreneurs with financing, coaching, and skills training.

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