According to a news release, the Michelin Development Nova Scotia program – which includes Michelin Development, Bergengren Credit Union, Northern Opportunities For Business Limited (NOBL) and Guysborough CBDC - has awarded $305,000 in loans to eight small businesses.
Two of the recipients are Truro-based Hunt Outdoors and Brookfield’s Baini Development Ltd. The other businesses are in Antigonish, Guysborough and Pictou counties.
The development partnership provides low-interest business loans and small business expertise to eligible applicants.
The $6-million development partnership allows for small business loans up to $300,000, and is funded equally between Michelin, NOBL/CBDC and Bergengren Credit Union. There’s also the potential of creating dozens of jobs.
“We are very excited about the potential we see in this community,” said John Tully, president of Michelin Development North America, in the release.
Other successful applicants include Ron’s Small Engine in Pictou; Chelsea’s Hair Salon, New Glasgow, South Main Car Care, Westville, TKM Trucking, Pictou, Whack It Down Yer Neck, New Glasgow and MacPherson’s Trailer Service in Westville.
There are also up to seven businesses currently under assessment by the Michelin Development partnership for future loans.