CBDC East is a not-for-profit organization managed by a volunteer Board of Directors, dedicated to helping businesses start up and expand in the Eastern PEI region.
The resources at CBDC provide a stepping stone to becoming self-employed by helping entrepreneurs turn a skill and a passion into a viable business or expand an existing business.
“We provide business loans, counselling, advice, entrepreneurship development, and business training,” says Martina MacDonald, Executive Director.
“When considering the approval of business loans, our eight-member Board of Directors puts more emphasis on the vision, passion, skill, and background of the clients.”
Martina says small businesses are rapidly growing in rural PEI, and are one of the most important drivers of the local economy. “Small businesses are a huge tax contributor to the Island economy. They provide employment, and as well, their tax dollars fund services such as schools and hospitals.
“With the assistance of CBDC loans, we have definitely seen a nice increase in small business start-ups in Eastern PEI. For instance, CBDC East provided a loan for a start-up company which now has 70 employees.
“The quality of life in Eastern Kings is good. People are tired of working in Alberta and are coming home and taking their skills, dollars, and passion and going into business for themselves.
“One of the greatest success stories for CBDC East is our Successful Business Basics program. Since conception, more than 100 small businesses have participated in the program. We called it a 15-hour investment in your business.”
Helen Antle, Business Development Loans Officer, has many transferable skills from her former employment as a financial service officer at the Souris Credit Union.
“We have had great success with people who had a dream, skills, and a passion, but also had challenges,” says Helen.
“We were able to put them through our training program and provide them with funding, and they are now happily self-employed.”
Terri Taylor, Account Manager, handles the account files from the first to the last loan payment. She is a point of contact for anyone having a challenge making a payment.
“I work closely with each and every client to develop a customized repayment plan and I offer solutions to any issues that may come up,” says Terri.
Three CBDC locations on PEI serve rural clients in Montague, Summerside, and West Prince.
For more information, contact the CBDC location nearest you:
- Montague: 902-838-4030
- Summerside: 902-888-3793
- Alberton: 902-853-3636