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Peterborough Economic Development & Peterborough CFDC Sign Memorandum of Understanding

By Kelly Jessup

[PETERBOROUGH, ON]: Peterborough Community Futures Development Corporation (Peterborough CFDC) and Peterborough Economic Development’s Business Advisory Centre have signed a memorandum of understanding aimed at improving service to local businesses by simplifying how Peterborough CFDC and PED’s Business Advisory Centre work together.

This agreement will streamline how businesses access the complementary services of both organizations. The focus is on cross-promotion of services to small to medium-sized enterprises (SMEs), and will ensure that businesses utilize Business Advisory Centre services to assist them in preparing their loan application, business plan and pitch for financing to Peterborough CFDC. Past clients, have experienced a higher success rate in their loan application with CFDC when they utilize the Business Advisory Centre’s services.

Our organization has a strategic focus on startups and entrepreneurship,” explains Peterborough Economic Development Board Chair, Peter Gaffney. “This agreement and partnership with CFDC allows us to better support the growth of small businesses in our region by creating a clear pathway between business planning and accessing capital. By helping businesses in their early stages we create positive economic impact and job creation for the City & County of Peterborough.”

“The key to Community Futures program across Canada has always been its flexibility for small business owners because lending decisions are made locally by volunteer Board of Directors who believe that character is your greatest asset. This agreement with PED will help entrepreneurs fill in the pieces of their business plan so that they have the best chance at securing a small business loan to finance their new business. It’s very difficult for a business operating for under 2 years to get financing, we exist for this very purpose” said Dan Stanford, Board Chair of the Peterborough CFDC.

Bonnie Kubica, Chef and Proprietor of BE Catering was also on hand at the event, to speak about her experience working with Peterborough Economic Development and Peterborough CFDC. She discussed the value that both Peterborough CFDC and Peterborough Economic Development bring to the local community. “Being a small business owner you have to wear many, many hats.” said Bonnie. She thanked Peterborough Economic Development in helping her create a strong, concise business plan and credited Peterborough CFDC with providing continued support as she hires and trains staff at her new location.

The business plan that she was able to craft with the assistance of Peterborough Economic Development’s Business Advisory Centre, is an important document that she will continue to refer to as her business expands. BE Catering opens their new location at 356 Charlotte Street in the coming weeks – a location that will welcome people for lunch and coffee.

The mission of Peterborough Economic Development is to lead Peterborough’s economic growth by attracting the talent, innovation and investments that create desirable jobs and an irresistible place to live and visit.

The mission of Peterborough CFDC is to generate and assist in the creation of employment opportunities in the City and County of Peterborough. We accomplish this mission primarily by supporting small business development through flexible financing and business counselling services.