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The Greenstone Economic Development Corporation (GEDC) in the Geraldton-Longlac, Ontario region, has pocketed a cool $550,000 from FedNor, and now they need to invest it in local projects. Eligible projects include pro-feasibility studies, research projects, new technology-related strategies and projects, small-scale capital projects, seminars and workshops, and other community-based economic development efforts.

In 2001, the GEDC invested $542,600 to help create or maintain jobs in the region. And in the past five years, CFDC’s in Northern Ontario alone have invested more than $90 million through loans and business counselling services.

The GEDC is one of 57 Community Futures Development Corporations in Ontario . Community Futures Development Corporations (CFDCs) support community economic development by assisting Ontario ’s rural and northern communities to strengthen and diversify their economies.

CFDCs are run by a board of local volunteers and staffed by professionals who encourage entrepreneurship and the pursuit of economic opportunities through:

Your Business

Get to know your local CFDC. The board is made up of local people, and you may already know many of them. Build relationships. Create a demand. Approach them with proposals. They have money to invest, and often apply for injections based on local demand.

For information on grants & loans for your new or existing business call 1-800-658-9792 . Or write us at Small Business Funding Centre 1500 Bank Street, Room 425, Ottawa Canada K1H 1B8 or e-mail us.

This Financial Management article was written by The Small Business Funding Centre on 1/10/2006

The SBFC’s mandate is to help new and existing Canadian small businesses gain access to government funding: helping young entrepreneurs gain the knowledge and tools to get funding to help start-up their own practice. Coincidently, they also have an interesting and educational monthly newsletter/online database containing hundreds of articles related to various business topics and related issues.