The corporation holds a $4.9 million Business Loan Portfolio consisting of funding received from:

• Human Resources Development Canada
• Western Economic Diversification Canada
• Forest Renewal BC
• Columbia Basin Trust

plus interest reinvestments over a 15 year operating period.

Since 1988, $11.3 million has been loaned to 436 business loan applicants creating or maintaining 1,156 jobs.

• The past year $898,880 was loaned to 16 businesses creating or maintaining 48 jobs.
   
• Current value of loans to small businesses is $2.7 million, leaving $2 million available for lending.
   
• Interest reinvested into the fund this year was $217,000.
   
• 1,662 client contacts were made during the year.
   
• The fund is directed by a volunteer committee of seven community members.

CFDC Operations

The corporation receives an annual operations grant of $198,000 from Western Diversification Canada and $75,000 from Human Resources Development Canada to deliver the Self Employment Program. In addition to these annual funding allocations, special project monies are received from a variety of sources to deliver community economic development initiatives.

The corporation is governed by a 10 member Board of Directors and 4 Honourary Board members. Operations are supported by a staff of four full time and one part time employees.

Special Project Highlights

• Self Employment Continues to provide small business support to eligible clients.
   
• Enterprise Facilitation proves to be a successful addition to our business support services
   
• Revelstoke Community Foundation endowment fund exceeds $500,000
   
• RevNet broadband communications project still in the planning stages.
   
• Forestry Museum development plan funding received.