South Shore–St. Margarets MP Jessica Fancy and Small Business Minister Rechie Valdez join representatives from the Business Development Bank of Canada (BDC) and the Community Business Development Corporation (CBDC) in Bridgewater to announce a new $100-million fund supporting rural entrepreneurs across Canada. (Photo: Jessica Fancy MP/Facebook).
Small businesses in rural Nova Scotia and across Canada will soon have more access to the funding they need to grow, thanks to a new $100-million partnership announced in Bridgewater.
The initiative, unveiled by Small Business Minister Rechie Valdez, connects the Business Development Bank of Canada (BDC) with Community Futures and Community Business Development Corporations (CBDCs) — groups that specialize in supporting entrepreneurs who often struggle to secure loans through traditional banks.
Valdez said the goal is simple: help more rural entrepreneurs start, expand, and create jobs in their communities. “Small businesses are the backbone of our economy, and that’s especially true in rural Nova Scotia,” she said. “This new partnership builds on our government’s decisive action to support small businesses through tariff relief and investment.”
The program is aimed at the 520,000 small businesses operating in rural and remote parts of the country.
It will provide easier access to loans, mentorship, and business development support — tools many local entrepreneurs say are critical but hard to find outside major cities.
BDC President Isabelle Hudon said the program reflects the bank’s commitment to reach communities where private lenders often don’t. “We believe every entrepreneur deserves a fair chance to grow their business,” she said. “This initiative allows us to go where others don’t and build bridges where gaps exist.”
Troy Dungate, President of Community Futures, said his organization’s local presence will help get funding directly into the hands of business owners who need it most. “This commitment, combined with our boots-on-the-ground knowledge, ensures this capital infusion reaches new and existing entrepreneurs ready to take their business to the next level,” he said.
The new fund builds on several recent federal measures to help businesses stay competitive amid ongoing trade and cost pressures — including expanded BDC loans of up to $5 million, a $5-billion Strategic Response Fund, and a $1-billion Regional Tariff Response Initiative that offers flexible, non-repayable contributions to small and medium-sized firms.
South Shore–St. Margarets MP Jessica Fancy said the program will have a tangible impact in local communities. “Across the South Shore and St. Margarets Bay region, entrepreneurs are creating jobs and keeping our rural communities vibrant,” she said. “This new initiative will make sure they have the financing and support they need to keep growing.”
The announcement comes just ahead of Small Business Week, running October 19–25, a national celebration of Canadian entrepreneurship.
