Terry Sheehan. Screenshot
Three Community Futures Development Corporations in the Kenora District are sharing over $6.6 million in funding.
Terry Sheehan is the parliamentary secretary for FedNor and says the money will support Patricia Area Community Endeavours, Chukuni Communities Development Corporation and Lake of the Woods Business Incentive Corporation.
Sheehan says the funding will top-up investment funds and help increase direct lending to local small and medium sized businesses.
Chukuni is getting $1.5 million to support ongoing operations for a five-year period.
Sheehan says the investment is expected to support more than 38 businesses, while helping to create 24 jobs and maintain 78 more in the Red Lake region.
Another $750,000 in FedNor funds will provide access to needed capital for small and mediums-sized businesses.
PACE is welcoming $1.6 million for ongoing operations over five years.
Sheehan says the money will support 85 businesses and help create 5 jobs and maintain 5 more.
PACE is also receiving $258,786 to hire a Program Coordinator to create and launch three new business programs designed to support entrepreneurs through mentorship, remote work transitions and access to business services.
This is part of a three-year initiative.
(With Files From Tim Davidson-Kenora)
