WORKING TOGETHER IS GOOD FOR BUSINESS AND PEOPLE
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WORKING TOGETHER IS GOOD FOR

WORKING TOGETHER IS  GOOD FOR BUSINESS AND PEOPLE


By Sherry Aalto


Working together is good for business and people! Colleen Martin, General manager of Nishnawbe Aski Development Fund was very happy and proud to announce that after six years of developing and establishing a Micro-Loan Fund to support aspiring entrepreneurs for Aboriginal Small Business, has finally come to fruition. "Access to capital is one of the main challenges Aboriginal business owners face and it is up to us as a leading Aboriginal Financial Institution to come up with creative ways to ensure these dynamic entrepreneurs get access to the financing they need".

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Nishnawbe Aski Development Fund (NADF) has partnered with Lac Seul First Nation through the Abishikokaang Development Fund (ODF) to provide micro loans to aspiring entrepreneurs in Lac Seul First Nation.


The micro-lending initiative is just one of many ways NADF seeks to empower northern Ontario's growing Aboriginal population through entrepreneurship.


Through its partnership with FedNor, NADF is able to provide commercial loans, grants, property appraisals, business counseling, community strategic planning and advisory services in mining and energy to First Nation communities across northern Ontario. The funds will be provided jointly by NADF and ODF, and will be accessible to entrepreneurs in Lac Seul through a peer lending circle administered by ODF.


The initiative comes at a time of increased demand for Aboriginal business services in the region. NADF recently increased its loan limit in response to growing demand for capital amongst small to mid-size business owners and an average loan has helped create 2.3 full-time jobs.


Lac Seul is a First Nation community with roughly 1500 members located approximately 600 kilometres North West of Thunder Bay, with road access from Sioux Lookout. Land wise, Lac Seul is one of the largest reserves in Treaty #3, with a land base bound to the north and east by Lac Seul lake and is made up of three communities: Kejick Bay, Whitefish Bay and Frenchman's Head.


Accepting and signing for the community of Lac Seul, was Chief Clifford Bull. "This is a great day for the community members for growth in business and encouraging entrepreneurs to come forward" Chief Clifford Bull also gave special recognition to Colleen Littledeer and Sam Mantowabe, the economic development people in lac Seul who run Obishikokaang Development Fund in Lac Seul. Chief Clifford Bull and his counsel feel that this arrangement that was signed for today, will make
a big impact on ensuring that small business people that have that entrepreneurship ideas, be a success in the community. The fund will definitely point any aspiring entrepreneur in the right direction for starting a small business and Chief Bull would like to encourage entrepreneurs to come forward and do the application. The Chief also expressed support for the entrepreneur and the prosperity that comes from developing a business. "At times", the Chief says, "it can be challenging to be visible and fair in the things that we do, but they will ensure fairness when they do the applications, we have a process, we have a means of making sure the funds go to the people that are going to be very wise with how they spend the money and contribute to the economy of the community." "So I am glad to be here today and look forward to the signing and the receiving of the cheque in the amount of $10,000.00.


On hand to sign the arrangement of the Micro-Loan Fund with Chief Clifford Bull and to present the funds, was the Board Secretary Treasurer of the Executive Committee,for Nishnawbe Aski Development Fund, Arlene Nathis. Heide Strobl (FedNor)/Industry Canada was also in attendance for the presentation. Ade Michael Sekudo, Marketing and Communications Officer for Nishnawbe Aski Development Fund was the Master of Ceremony for the signing. This is another step forward in
developing very much needed services in norther Ontario. Working together is good for business and people!



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