The Honourable Mike Currie, Minister of Development and Technology, announced today that the Winter Production Financing Program, first introduced in the winter of 2000, will be renewed again this winter.
“This program has become a very successful way to help craft producers gear up for the busy retail season,” said Minister Currie. “The response from the industry to this program has been excellent and I believe it has provided a great boost to this important sector.”
The Winter Production Financing Program is designed to provide new and expanding craft and giftware manufacturers with the necessary financing for increasing production during the winter months. Assistance under the program is in the form of a repayable loan, to a maximum of $10,000 per manufacturer.
Since the program’s inception, 85 applications have been approved, totalling $685,030.00.
Funding will be available through the Winter Production Financing Program from January 1 to May 31, 2005. For more information, contact Carolyn Villard or Arlene Ranahan at Prince Edward Island Business Development at (902) 368-6300.