The LaCloche Manitoulin Business Assistance Corporation (LAMBAC) will use close to $1 million in federal funding to help women entrepreneurs succeed in business.
On Aug. 1, FedNor announced it’s investing $999,620 into LAMBAC’s Northern Ontario Women (NOW) program, which helps women-owned and women-led enterprises start up and scale their businesses.
“This strong show of support from FedNor will help level the economic playing field for women entrepreneurs across Northern Ontario,” Carolyn Campbell, LAMBAC’s executive director, said in a news release.
“The continuation of NOW will translate into support for more than 110 women-led businesses and the creation of close to 145 full-time jobs throughout the region. We are proud to spearhead this priority project that empowers women to pursue their entrepreneurial aspirations, while supporting jobs, growth and a strong economy.”
Under the NOW program, women can receive loans for up to $5,000 toward the cost of professional and training services in the growth of their businesses.
“The goal of this pan-Northern project is to address challenges facing women entrepreneurs, particularly filling a gap in rural areas where services and training are not offered or affordable on an individual basis,” the release said.
NOW is led by LAMBAC but supported by all 24 Community Futures Development Corporations in Northern Ontario.
The project is expected to support more than 110 businesses and help create 145 full-time jobs, according to the release.
