INVESTING IN OUR FUTURE
CDC FACT SHEET
(September 1986 – March 2024)
For 38 years, the Community Development Corporation of Sault Ste. Marie & Area (CDC) has played an important role in business development and community economic development in our communities.
The CDC is an independent, non-profit corporation with a volunteer board of directors. Financial support is received by FedNor through the Community Futures Program. The CDC offers programs and services to individuals, businesses and community organizations. These include:
- Loans to Business ($1,000 to $300,000 per business). The maximum investment amount can be increased to $750,000 on an exceptional basis under the Northeastern Ontario CFDC Investment Pool.
- Since 1987 the Investment Fund has provided over $22.8 million in loans and equity investments to 669 businesses that have assisted in creating or sustaining 3,270 local jobs. These investments leveraged another $34.5 million from banks, owner’s equity, government and non-traditional sources.
- Regional Relief and Recovery Fund
- 33 businesses received COVID19 relief loans totaling $1.495 million to help maintain 93 jobs.
- Business Counselling and Consulting Services (Free of Charge)
- Since 1987 the CDC has provided advisory services that have assisted in creating or sustaining 3,834 jobs.
- Comprehensive Business Resource Centre (Free of Charge)
- Between April 1, 2023 and March 31, 2024, a total of 144 people utilized the resource centre for business inquiries, business information and to utilize computer work stations.
- Community Economic Development Activities
By working with partners in both the public and private sectors to plan, initiate, facilitate, manage and administer projects, the CDC has assisted in the creation of sustainable jobs within our communities.