A new funding program by Community Futures Peterborough aims to help drive growth and job creation for small businesses and not-for-profits in the Peterborough, Ont., region.
The new Community Advancement Program (CAP) will provide non-repayable funding of up to $5,000 for projects which boost business attraction, investment, retention and employment.
The CAP program has allocated $50,000 for projects and funding is available to applicants from businesses, not-for-profits and individuals in the city and Peterborough County. Applications will be accepted until March 8, 2024. To apply, visit the communityfuturespeterborough.ca website.
“The creation of this program demonstrates the commitment our organization has to advancing our local community forward,” said Devon Girard, Community Futures Peterborough’s executive director.
“The distribution of $50,000 in our economy should make a real difference to drive various economic development initiatives.”
Since its inception in 1985, Community Futures Peterborough has focused on supporting small businesses with flexible financing. Funded by the Government of Canada (through the Federal Economic Development Agency for Southern Ontario), the not-for-profit organization says it has provided more than $41 million to more than 1,100 small businesses in the area, helping to create 4,100 jobs.
“CAP is working to help entrepreneurs and businesses scale up, grow, and create economic development in rural communities like Peterborough,” stated FedDev Ontario minister Filomena Tassi. “The Government of Canada through FedDev Ontario is funding the Community Futures Program to ensure small businesses have what they need to grow and thrive.”
Peterborough Mayor Jeff Leal and Peterborough County Warden Bonnie Clark both believes the CAP program will help boost the local economy.
“CAP will boost economic development in our region by helping businesses, non-profits, and individuals in the City and County of Peterborough to invest in their community,” Leal said. “I want to thank Community Futures Peterborough and FedDev Ontario for supporting our local economy.”
Added Clark: “Community Futures Peterborough, with the support of FedDev Ontario, continues to help our business community reach its full potential. The CAP program will help businesses to adapt, innovate, and grow to serve our communities including those in rural Peterborough County.”
Peterborough-Kawartha Conservative MP Michelle Ferreri said the $5,000 contribution can be a “complete game-changer” for a startup or small business.
“The establishment of the CAP program provides businesses the opportunity for continued success, which is not only a win for our local economy, but our community as a whole,” she stated.
— more to come
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