Island craft and giftware manufacturers will once again have access to additional financing to increase production capacity during the winter months.
The Honourable Richard Brown, Minister of Development and Technology, announced today that the Winter Production Financing Program will be renewed for 2007 - 2008. This program allows craft and giftware manufacturers to purchase supplies and build up an inventory of products to sell during the busier summer season. “Prince Edward Island craft and giftware industry contributes a great deal to the economy and culture of our province,” said Minister Brown. “Our Government is committed to the continued growth and success of this industry. As a result of the popular Winter Financing Program, craft and giftware manufacturers will be able to create larger quantities of Island-made crafts to sell during peak periods.”
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, 142 applications have been approved, totalling $1,188,005.
For more information, please contact Carolyn Villard or Arlene Ranahan at Prince Edward Island Business Development at (902) 368-6300, or visit our website at www.peibusinessdevelopment.com.