APPENDIX B:
FINANCING SOURCES
Funding public sector initiatives and financing private
sector projects will be key to implementing the identified tourism
developments. The following are brief
descriptions of the tourism financial sources that are currently available. (Source: Developing a Tourism Business: A Handbook for Tourism Entrepreneurs)
The Tourism Industry Loan Fund is a partnership between Western Economic Diversification Canada and the Business Development Bank of Canada to provide debt financing to Western Canadian small businesses in the tourism industry. The program provides flexible term debt financing for small tourism businesses to obtain leading edge technological tools, undertake staff training, create innovative marketing strategies, undertake modest capital projects, and other priority activities to compete more effectively with growing international competition.
Community Futures Development
Corporations (CFDC)
Community Futures Development Corporations provide business loans to assist existing businesses expand, or to help entrepreneurs create new businesses. Loan amounts are up to $125,000.
Canada Small Business Financing Program
(BSDF)
The Canada Small Business Financing Program was created to help small businesses reach their potential by making it easier for them to get term business improvement loans to finance the purchase or improvement of fixed assets, for new or expanded operations. Administered under the Canada Small Business Financing Act (BSDFA), the program is a joint initiative between the Government of Canada and private-sector lenders.
Business Development Bank of Canada (BDC)
The Business Development Bank of Canada (BDC) is Canada's small business bank. BDC plays a leadership role in delivering timely and relevant financial and management services, with a particular focus on the emerging and exporting sectors of the economy. BDC is dedicated to helping create and develop Canadian small and medium-sized businesses.
Industry Canada’s Strategis web site - Sources of Financing, offers an extensive database of financial providers and diversified resources to build your financing knowledge. The Strategis web page is located at: http://strategis.ic.gc.ca/sources