Group Futures Lambton is investing the online proceeds from the sale of its constructing on Durand Avenue again into the group.
Chief Government Officer Sarah Reaume advised Lambton County Council at its latest assembly, the group – previously the Sarnia-Lambton Enterprise Improvement Company – rebranded and moved from the previous Our Girl of Mercy Public College final yr.
“It was very institutional, our boardroom was the principal’s workplace, a really completely different vibe to the place we are actually at 346 Christina Avenue North. [It’s] a beautiful previous dwelling, circa 1877 and we’re completely loving being there,” mentioned Reaume. “With the disposition of the Durand Avenue property, our board discovered itself with a surplus between what we bought one [property] for and what we had been in a position to buy the opposite [property] for.”
Reaume mentioned the board developed a plan to guard its principal and use the curiosity to push funds into the group yearly.
“It is by way of that initiative that we’ve got group futures grants and these are for group based mostly financial improvement,” mentioned Reaume. “This yr we’ve got $40,000 in grants out there yearly, and that is grants from $500 to $5,000.”
Purposes open March 1 to help grassroots financial improvement and younger entrepreneurship.
“That could possibly be a avenue competition in Alvinston, a tourism initiative, a particular occasion or a municipal anniversary, it could possibly be a youth initiative. Actually vast open with these grants for something that’s uplifting and empowers financial improvement on the group degree,” she mentioned.
Reaume hopes it offers service golf equipment and non-profit organizations a possibility to entry seed funding to launch initiatives.
The deadline to submit an software is March 31, and grant recipients might be introduced by April 14.
The group, funded by the Federal Financial Improvement Company for Southern Ontario (FedDev Ontario), has offered practically $50 million to help rural financial improvement in Lambton County since incorporating in 1988.
Free enterprise teaching and advisory companies have additionally helped create or preserve over 10,000 jobs.
Reaume mentioned they’ve issued just below 900 loans since operations began.
There’s presently $8 million {dollars} in loans supporting companies throughout Lambton County and simply over $5 million out there to lend.
