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Financing option for SMEs. (Around the North).

Small- and medium-sized businesses (SMEs) in Northern Ontario now have access to a new capital fund to help them offset high-risk investments. Under a negotiated agreement between FedNor and the Business Development Bank of Canada (BDC), FedNor will create a loan loss reserve fund of up to $15 million over three years.

FedNor will commit up to $3 million towards the reserve. With the two organizations working together, it will allow the BDC to provide greater increase in higher-risk loans for SMEs to finance projects with a focus on business and market expansion and diversification.
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Publication:Northern Ontario Business
Date:Dec 1, 2002
Words:95
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