In order to help businesses, accomplish their objectives, SOFII provides support to business owners by offering them repayable loans. Fed Dev Ontario supported WOCFDCA with capital investments in SOFII, as part of the agency’s Prosperity Initiative, originally in 2012 and subsequently in 2014 and 2019.
The WOCFDCA launched the Western Ontario Rural Capital Pool (WORC Pool) on March 31, 2016. The WORC Pool is available to participating CFDCs to support their lending activity in each community.
The objectives of the WORC Pool are to support the participating CFDCs in their need for access to capital for their clients, to enhance lending to small businesses in the Region, and to support other business retention and expansion activities that align with regional diversification and industry cluster development plans.
The WORC Pool was supported by a $3.2-million contribution by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The federal contribution was made through the Investing in Regional Diversification (IRD) initiative and fund matching by CFDC members.
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