The corporation holds a $4.8 million Business Loan Portfolio consisting of funding received from Human Resources Development Canada, Western Economic Diversification Canada, Forest Renewal BC and Columbia Basin Trust and interest reinvestments over a 13 year operating period.

Since 1988, over $9 million has been loaned to 369 business loan applicants creating or maintaining 1,036 jobs.

The past year $1.26 million was loaned to 28 businesses creating or maintaining 46 jobs.

• Current value of loans is $3.3 million
• Annual interest reinvested into the fund is approximately $250,000
• 2,000 Client contacts are made during the course of a year
• The fund is directed by a volunteer committee of seven community members.
   

CFDC Operations

The corporation receives an annual operations grant of $170,000 from Western Diversification Canada and $65,000 from Human Resources Development Canada to deliver the Self Employment Program. In addition to these annual funding allocations, special project monies are received from a variety of sources to deliver community economic development initiatives.
 

Special Project Highlights

• Revelstoke Community Foundation donations reach $250,000
• Economic Activity Database complete
• Revelstoke Area Recreation Inventory complete
• Revelstoke selected as a ‘highly resilient community’
• Results tabulated from Business Retention survey
• CED Intern Program nearing completion
   

Special Projects

Revelstoke Community Foundation

The creation of a community foundation has been a dream come true. The Foundation was officially launched in April 2000 and now holds a capital pool of $250,000. This capital pool will continue to grow with each new gift and thereby generate a perpetual source of income for annual grants to a wide range of charitable community interests and needs. The Foundation receives administrative support from the Revelstoke Credit Union in partnership with the CFDC of Revelstoke.

Economic Activity Database

Information from 577 local businesses has been collected and entered into a database for tracking economic activity in Revelstoke. The final report is now available at the Enterprise Centre.

Revelstoke Area Recreation Inventory

A recreation inventory has been prepared following extensive community consultation on public and commercial recreation activities. The inventory includes a database describing 24 recreation activities and maps depicting activity areas. The consultants report includes an analysis of potential for future recreation issues and challenges. The database can be viewed electronically at www.for.gov.bc.ca/nelson/district/columbia/index.htm. The consultants report and maps can be reviewed at the Enterprise Centre.

Community Resilience Manual

CFDC staff researched data and organized key informant interviews and focus groups for the Centre for Community Enterprises’ research project to develop a Community Resilience Manual. The CFDC Board served as the steering committee for testing the manual. Revelstoke was identified as a concrete example of how CED can work and was selected as the Manual’s case study as we were determined to be a highly resilient community.

Regional Community Economic Development Proiect

Revelstoke is participating with five other CFDCs in the Kootenay Region to implement a business retention study. 76 local businesses completed the survey and the results have been entered into the regional database.

CED Intern Program

Western Diversification provided additional funding to continue the Community Economic Development Intern Program for a third year and will expire in March 2001. This program provides work experience for recent graduates as well as assistance to Community Futures for implementing community economic development initiatives.

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