A new Winter Production Financing Program for craft and giftware producers was introduced today in Prince Edward Island.
Minister of Development and Technology, Mike Currie, says the program is designed to provide new and expanding craft and giftware manufacturers with the financing needed to increase their production during the winter months.
"Being able to manufacture products outside peak selling periods can be a challenge for many craft and giftware producers," said Minister Currie. "This program will now make it easier for craft and giftware manufacturers to have their products ready to distribute at all times. Our goal is to increase the amount of Island made craft and giftware products in PEI."
The assistance under the program is in the form of a repayable loan, to a maximum of $10,000 per manufacturer.
Many of the people applying for the program will be exhibiting this weekend at the Prince Edward Island Craft and Giftware Buyers' Market being held at the Confederation Centre of the Arts. It is anticipated that increased orders from the Buyers' Market will create a need for this type of financing, providing manufacturers the capital needed to fill orders before the summer season begins.
The Winter Production Financing Program is one of eleven initiatives Prince Edward Island Business Development is initiating to help grow the Island's craft and giftware industry.
For more information on this program, contact Valerie Bruce Kelly, Prince Edward Island Business Development, at (902) 368-5969.