Community Business and Development Centre Inc.
To the clients of the Parry Sound Area Community Business & Development Centre, on behalf of the staff and Board of Directors of the CB&DC, I want to thank you for all of the measures you have taken so far to ensure you meet the needs of the West Parry Sound Area, while observing public health recommendations and the needs of your business and your staff and their families. As small and medium sized businesses, you are providing many of the services that make up the fabric of our communities, and in these uncertain times I am extremely proud of the work you have done.
There are a lot of unknowns and uncertainty, as we wait for federal and provincial programs to roll out and filter down to the local level. Know that the staff of the CB&DC are dedicated to continuing to assist you in any way possible, and ensuring you receive relevant, true, impactful information. Though our office remains closed to the public, all staff are working regular business hours and are available digitally to meet as many of your needs as possible. I urge you to subscribe to our Facebook page, as well as CF Ontario’s Facebook page, for information relating to business programming and updates as they become available.
These are truly extraordinary times, and I know our local businesses may be struggling to how to approach the upcoming peak season, managing day-to-day operations with the uncertainty of how long these pandemic measures may last.
Therefore, on behalf of the Board of Directors, we have implemented the following measures as policy, effective as of today, Friday, March 20, 2020.
1. All outstanding loans will be suspending payments until July 1, 2020, at which point the situation will be re-evaluated. All post-dated cheques will be held by CB&DC, and EFTs suspended with your financial institutions.
2. All loan interest during that same interim period is to be suspended in full.
Should you be able to make payments, I suggest you continue to do so; the amount will be applied to your balance in full as the interest is not accruing. But we realize that capacity might not be in place, especially for those who are self-employed and/or are seasonal operators.
I encourage any client who may be going through difficult circumstances to contact us, and we can do our best to assist you in navigating through this, including access to capital if/when available. Please be safe and know you are in our thoughts.
Gord Knowles, Ec.D, CEcD General Manager
The Parry Sound Area Community Business & Development Centre is a federally supported not-for-profit Community Futures Development Corporation, governed by volunteers in partnership with FedNor. The services provided by the CB&DC exist to promote economic growth and community development of the Parry Sound region. The centre focuses on job creation by community strategic planning and providing funding and advisory services to area businesses. Industry Canada/FedNor and others provide various Tools for Business to assist both start-up and existing businesses. The CB & DC can offer these products as tools to entrepreneurs in the Parry Sound area.
CB&DC wants to make the West Parry Sound region a thriving economic hub for those living and visiting. This is accomplished by providing loans to assist both start-up & existing businesses. Since opening its doors in 1987 the CB&DC has approved over 539 loans, valuing over 47 million dollars. The CB&DC has created & assisted in maintaining 2292 jobs in the local area.
Contact the CB&DC today to see your business dreams become reality.