Community Futures/SADC+CAE/CBDC and the Business Development Bank of Canada (BDC) recently announced a $100 million initiative to reach more business owners living in rural and remote areas in Canada.

Leaders in their communities, rural entrepreneurs are an exceptionally active demographic, with an entrepreneurship rate standing at 17% in 2024, compared to 12% in urban areas. The financing envelope created by this new initiative is expected to generate up to $250 million in GDP over five years, a BDC media release explained.

With their respective business centres and offices throughout the country, Community Futures/SADC+CAE/CBDC and BDC have a complimentary footprint. A federal program administered by regional development agencies and Canada Economic Development, Community Futures/SADC+CAE/CBDC operates 267 non-profit offices across Canada delivering small business loans, tools, training and events.

BDC supports entrepreneurs with financing, advisory services and capital from 109 business centres across Canada and online at bdc.ca.

Community Futures East Kootenay represents entrepreneurs in the region and the new funding is welcome, said general manager Kerstin Renner.

“Here in the East Kootenay, we have always had a great relationship with the local BDC, looking at how we can best collaborate and serve the entrepreneurs in our communities. This new, formalized partnership further strengthens our connection with BDC and brings more financial support to our region,” she said.

“This initiative aims to increase the support provided to the 520,000 entrepreneurs living in rural and remote areas who grow our economy,” said the Hon. Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions. “It leverages the complementary strengths of both organizations—BDC’s financing and advisory expertise and Community Futures/SADC+CAE/CBDC’s deep local presence across the country.”

“At BDC, we believe that every entrepreneur, no matter where they live, deserves a fair chance to grow their business. Rural and remote communities are full of bold, resilient business owners who often face more barriers and fewer resources,” said Isabelle Hudon, President and Chief Executive Officer of BDC. “This initiative with Community Futures/SADC+CAE/CBDC allows us to do what a development bank should: go where others don’t, and build bridges where gaps exist. We’re unlocking potential that’s been overlooked for too long. We believe that’s what our economy needs right now.”

“Joining forces with BDC to supercharge the opportunities and resources available to rural and remote entrepreneurs from coast-to-coast-to-coast is a powerful combination that will result in significant impact throughout the country for decades to come,” said Troy Dungate, President of Community Futures/SADC+CAE/CBDC.

“BDC is committing to investing $100M to bolster businesses that often face strong headwinds simply due to geography and the vast nature of our country. This commitment, combined with our boots-on-the-ground, grassroots knowledge is an intelligent way to ensure that this capital infusion is dispersed through loans to new and existing entrepreneurs that are ready to bring their business to the next level,” he said.

“Additionally, we know that many entrepreneurs in rural Canada are attracted to the work because of the desirable lifestyle it creates for their families. Working together, we expect this to make positive, meaningful change in the lives of individual Canadians and our country as a whole.”

This initiative with Community Futures/SADC+CAE/CBDC builds on BDC’s broader commitment to develop entrepreneurial potential in all its forms and to help grow the Canadian economy, the media release noted.

Since launching the Community Banking initiative in November 2024, BDC teamed up with financial institutions and community lending partners that support under-served groups.

“By joining this network of trusted partners, Community Futures/SADC+CAE/CBDC should help us reach even more business owners in rural and remote areas. It’s about meeting entrepreneurs where they are and helping them grow,” the BDC release said.

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