Two Edmonton-based organizations have teamed up to help new small businesses get off the ground.
Edmonton Community Loan Fund (ECLF) and Capital City Savings and Credit Union Limited last week announced a partnership to provide financial and business support for people hoping to start a small business.
“Capital City Savings is helping our clients through resources such as volunteer business expertise, and it’s this kind of assistance that will help our clients grow and succeed,” said ECLF chair Pierre Cormier.
The fund is a community-based organization that provides financing and business support to aspiring entrepreneurs.
Capital City Savings last year donated $30,000 to ECLF, and has provided a line of credit that the fund can access to provide loans to entrepreneurs who have not been able to secure conventional financing.
The groups have also agreed to refer clients to each other’s services. “This partnership is a natural extension of our credit union philosophy of people pooling their resources to help each other,” said Capital City Savings board chair Peter Galloway.
Edmonton Community Loan Fund has provided loans to 99 small businesses since its incorporation in 1995. The loan fund also supports people with disabilities who want to own and operate their own businesses.
