Some changes are coming to existing business loans with the idea of making it easier for businesses in the Battlefords to spruce up in the coming year.
Battleford mayor Chris Odishaw discussed the plan during a June 18 town council meeting. Odishaw had attended the annual meeting of the Battleford Small Business Loans Co-op earlier in the day, which passed a motion on the changes.
Two loan programs of $200,000 each currently provide funds to business owners at an interest rate of six per cent, with funds going towards all different kinds of business enhancement projects, Odishaw said. Changes will see the limit raised from $15,000 to $20,000 per business applying for the initiative. As well, interest-free loans will be offered for the first year, repayable over three to five years.
The changes will help businesses in the Battlefords to spruce up their signage, facades, painting, windows — “anything to enhance the look of the business”, Odishaw said.