July 31, 2015 – Saint John, N.B. – Atlantic Canada Opportunities Agency
The Saint John Community Loan Fund Inc. received good news today as the Government of Canada announced an investment to help the organization to construct a new building to support and nurture social entrepreneurship.
Rodney Weston, Member of Parliament for Saint John, made the announcement today on behalf of the Honourable Rob Moore, Regional Minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency).
The project involves the construction of a three level, 15,000 square foot building that will act as a “hub” for entrepreneurship, innovative thinking and social change. The vision for the new facility is to foster creativity and entrepreneurship for poverty reduction.
The Government of Canada, through ACOA’s Innovative Communities Fund, is investing $300,000.
Quick Facts:
- The Saint John Community Loan Fund, a registered charity, has been taking investments to build its capital fund since 1999. It uses this invested capital to help individuals create income, build assets and attain greater self-reliance.
- The Saint John based organization provides loans for small business, employment, affordable housing and social enterprise. The group also arranges training in financial literacy, community leadership, enterprise development and youth entrepreneurship.
- The Loan Fund converts investments to loans to help people in the community start businesses, get back to work, or secure housing. Loans go to people living in the community who have good ideas, and the desire to get ahead, but who don’t have the income, assets, security, or credit history to get a loan elsewhere.
Quotes:
“Our Government is pleased to support projects like these that help local entrepreneurs succeed and businesses prosper. Funding announced today will help the Saint John Community Loan Fund to create a space that builds entrepreneurship in Greater Saint John, while further strengthening our region’s economic landscape.”
- Rodney Weston, Member of Parliament for Saint John, on behalf of the Honourable Rob Moore, Regional Minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency)
“We are excited that ACOA and the federal government have gotten behind this project. The Social Enterprise Hub extends our work with enterprising non-profits, social enterprise and micro-enterprise. Working with our partners, we believe the Hub will help us generate new opportunities for improving social conditions through employment and enterprise. This will impact our neighbourhood, and ultimately our province and region.”
- Mr. Seth Asimakos, General Manager, Saint John Community Loan Inc.
Associated Links:
Contacts:
Kelsie Corey
Director of Communications
Office of the Honourable Rob Moore
Atlantic Canada Opportunities Agency
613-941-7241
Paul CJ LeBlanc
Senior Communications Officer
Atlantic Canada Opportunities Agency
506-452-3310
Seth Asimakos
General Manager
Saint John Community Loan Fund Inc.
506-652-5600
