Michelin Development Fund

Putting jobs back into the community: Michelin Development Nova Scotia announces business partnership with Bergengren Credit Union, Northern Opportunities for Business Limited (CBDC NOBL) and CBDC Guysborough. Local development partnership allows for small business loans up to $300,000; Michelin Development website already receiving applications

Michelin Development Nova Scotia is very pleased to announce its new banking and community business partners. Bergengren Credit Union along with CBDC NOBL and CBDC Guysborough, will be working in partnership with Michelin Development Nova Scotia to further economic development in the counties of Colchester, Pictou, Antigonish and Guysborough counties. The partnership will provide low- interest business loans and small business expertise to eligible applicants.

“We are very excited to have Bergengren and the CBDCs on board to help us foster and encourage economic growth in these communities,” said John Tully, President, Michelin Development North America. “With our $2 million program investment from Michelin, $2 million from CBDC NOBL and CBDC Guysborough, and $2 million from Bergengren, we will use this $6 million in funds to help keep these communities viable and vibrant. With our new website www.michelindevelopment.ca and this partnership now established, we are officially open for business. We want to put jobs back in this community.”

Loans available for small business in all sectors
This strategic partnership will allow for greater loan opportunities for small businesses up to $300,000. This program is open to all start-up and existing small business sectors in Colchester, Pictou, Antigonish and Guysborough counties. Michelin Development will meet with interested clients, receive and assess all applications before submitting applications to the NOBL review committee. If an application is successful, it will be forwarded to Bergengren Credit Union for final review and then an application is accepted.

“Bergengren is excited and proud to be participating with Michelin Development and the CBDCs to seek new business opportunities within the communities we all serve. We are
very optimistic this program will develop long term sustainable employment within our region,”said Bergengren Credit Union CEO Dan Hodgins.

Building on local small business and community expertise
Community business development resources, such as those found at CBDCs such as NOBL, continue to build upon local business expertise, community know-how and informal business networks. Along with business loans, the partnership also provides business expertise to small business.

“We are ecstatic to be able to go to our small business community with this new partnership,” said Ron O’Brien, Executive Director of CBDC NOBL. “Both Bergengren and Michelin bring a sensitivity to community to this effort, something that is usually found in CBDCs alone. Michelin’s corporate social responsibility is a key factor in making this all happen.”

Those interested in submitting a business proposal to Michelin Development are invited to
visit michelindevelopment.ca for more information, or contact John Tully, President,
Michelin Development at 902-753-1156 or john.tully@ca.michelin.com

“We already have a number of applications submitted online, and we will be working
through these applications in the coming weeks. I’m sure this number will grow in volume
as we get the word out in these great communities,” added Tully.

About Michelin Development (MD)
Michelin Development is a community development program which assists in the creation of new jobs in the small business sector by providing low-interest business loans and small business expertise to eligible applicants. Recognizing the Michelin Pictou County plant is a significant part of the local economy, the development program was announced by the company in March 2014 to correspond with the reduction of tire manufacturing at the Michelin Pictou County site. Over its eight-year history in North America, Michelin Development has already helped to grow 85 small businesses and is instrumental in creating over 1,300 jobs. Michelin Development was first established in the Waterloo Region of Ontario, in 2006.

CBDC NOBL is a federal government supported Community Business Development Corporation operating in Colchester, Pictou, and Antigonish Counties. Founded in 1986, it has six employees, a 24 volunteer member Board, and financially assists an average of 100 small businesses a year in its geographic area. http://www.cbdc.ca/ns/nobl_news

About CBDC Guysborough
CBDC Guysborough is much like NOBL, but is operational in Guysborough County only.

For information:
Deborah Carty, Michelin Canada, 902.670.1837 Deborah.carty@ca.michelin.com
John Tully, President, Michelin Development: 902.753.1156 John.tully@us.michelin.com
Wanda MacDonald: CBDC Guysborough: 902.533.2770
Ron O’Brien, NOBL: 902.752.7402
Dale Bigney, BCU: 902.752.3102 X 4001


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