Boosting Opportunities for Entrepreneurs in the Saint John Region
June 4, 2024
FOR IMMEDIATE RELEASE
Federal support will help entrepreneurs access funding to start and scale business
SAINT JOHN: The Government of Canada through the Atlantic Canada Opportunities Agency (ACOA) is investing a total of $1,096,512 to support the entrepreneurial ecosystem in Saint John.
Today, Wayne Long, Member of Parliament for Saint John – Rothesay announced support to Envision Saint John: The Regional Growth Agency to help deliver its Impact Loan Program (ILP), which helps entrepreneurs access seed capital loans to start and grow a business.
“Envision Saint John works hard to provide our region with leadership, connections, and information on innovation and entrepreneurship,” said MP Long. “I’m so pleased that the Government of Canada is supporting Envision’s efforts to help entrepreneurs and businesses seize opportunities that will help them realize their dreams and boost our economy.”
The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA.
This investment also allows an important expansion to the program's funding from $25,000 to $50,000 per business owner, as well as broader categories and operational funding - allowing more entrepreneurs access to capital. The broader eligibility categories remove age restrictions barriers for entrepreneurs 40+ looking to expand their business.
In addition to financing, the seed capital program includes access to business skills training, networking and coaching.
“Our region is home to a vibrant startup ecosystem and ACOA’s support has allowed us to serve more entrepreneurs that are bringing innovative and unique businesses to market,” said Andrew Beckett, CEO of Envision Saint John.
In 2023, Envision supported over 130 entrepreneurs through business counselling and entrepreneurial training. To learn more about the Impact Loan program and hear from entrepreneurs who have benefitted from support, click here.
Media Inquiries:
Nicole Vair
Manager of Marketing & Communications
[email protected]
506-658-2877 ext.105
Ann Kenney
Senior Communications Officer
Atlantic Canada Opportunities Agency
[email protected]
