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Who We Are 705-328-0261

Business & Loans x22

General Manager x24

info@klbcdc.com

Who we are

The Kawartha Lakes Business and Community Development Corporation (KLBCDC) was incorporated in the spring of 2013 to support the creation of jobs, economic opportunity and community development in the City of Kawartha Lakes and beyond.

The KLBCDC was established by the Board of Directors of our sister corporation, the Kawartha Lakes Community Futures Development Corporation (KLCFDC); and the corporation operates as a community based, non-profit, business led organization. These Directors may not realize any personal gain as a result of their involvement on the Board and must declare any real or perceived conflicts of interest when dealing with matters before the Board. The Board, in turn, has a professional staff to administer and manage the daily operations and planned development of the Corporation and its activities to the satisfaction of the Directors.

What's the big idea?

The idea that led to the creation of the BCDC emerged from a practice we have utilized before, a "community consultation". This is an activity that we will undertake in our efforts to gain insights into doing more for our local economy. Recently, in discussions with business leaders, owners and operators, came a clear consensus that with more capital, their businesses could increase capacity and in turn create more opportunities. This would lead to growing revenues and greater success both within their operations as well as for the community overall. This message registered with our Directors and since early 2013, we have worked towards creating an entity that could provide this increased access to capital.

  • 1 Access

  • 2 Assistance

  • 3 Support

What will the KLBCDC do?

The policies and structure of the Corporation allows the community to play a direct and active role in employment and business development within the region. Based on solid plans, detailed strategic assessment and well thought out implementation, we will work collaboratively in growing our economic strengths, gaining even more through partnerships, and ultimately creating an effective and efficient model which provides for more opportunity. The KLBCDC will:

Capital
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Assistance
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Support
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Resources
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Access to capital

Provide access to capital as well as entrepreneurial, commercial, financial, marketing and other business advice and counseling to businesses and to persons seeking to establish new businesses;

Assistance

Provide assistance in the development and the diversification of the local economy by assisting in the creation of new businesses, or by enabling existing businesses to stabilize or expand in the community

Support

Support employment growth by fostering the creation of viable and continuing employment opportunities in the City of Kawartha Lakes, and beyond

Resources

Provide resources for the planning and development of strategies and tactics pertaining to local, regional and national activities that will serve the future economic prosperity of the City of Kawartha Lakes; as well as other complimentary purposes not inconsistent with these objects.



On the financial side...




On the financial side, the support component of these goals can be further defined by proposing that the capital being requested may not be available elsewhere or at terms that also may not be available from other lending sources. There can be a higher degree of risk associated with these types of financial assistance but this is not inconsistent with what has been our history as a commercial lender. In assuming a degree of additional risk, it can also bring a rare failure. However, from what we have experienced, the successes far outweigh the losses. The KLBCDC will look to provide supports in a few different ways:


For our existing CFDC clients, we may be able to offer greater access to capital that extends beyond what our Federally-funded Community Futures Program can provide; it being $250,000.

For ventures involving a high degree of risk, the KLBCDC may be able to provide the needed support. We will always perform a risk assessment in these situations and it will help establish both a position for the Directors within determining our potential level of support to these ventures as well as to outline the terms and conditions under which we will lend.

For larger business ideas, the KLBCDC may also serve well as a partner or perhaps an entry-level lender while more significant plans can be put into place. This would not be adverse to some of our other corporation’s activity, where we occasionally partner with other lending institutions.

It is important to know that this new corporation will not, in any way, undermine or look to affect the activities and the impacts of, in particular, the work of the KLCFDC. All Directors understand and appreciate what has been achieved in Kawartha Lakes in operating as a Community Futures corporation over the years. What we hope to do now is ideally enhance this work by offering more options for local business. It is possible that your first point of contact should be the KLCFDC, so we have installed our existing staff to now provide service to both organizations. This will add ease to the information requirements we have as well as the speed under which a request for support can be attended to.

The organizations and individuals responsible for the Kawartha Lakes Business and Community Development Corporation recognize the proud heritage and history that has led to this new entity being created. They are most appreciative of the solid reputation and strong record for supporting community which has been established and maintained for nearly three decades. While creating the KLBCDC with a clear view to the future, the activities of the past and the success factors involved will be present in all that we do.