Business Loan Guarantee Program and Credit Unions

credit unions: He may also make good on an election vow to raise the associated guarantee to 90 per cent of the loan value, up from 75 per cent in most cases, according to The Chronicle Herald. A $6-million provincial loan guarantee was first issued to credit unions in 2003 and quickly raised to $25 million. That guarantee now supports a lending portfolio of $68 million and On Monday, the premier is expected to announce that government will double a $25-million business loan guarantee program for credit unions. Very little of the $50 million would ever be spent, however, making this an excellent way of unlocking a large pool of private capital to support small businesses, especially in rural areas. (www.immigrantscanada.com). As reported in the news.