September 17, 2008
SIDIT supports KABAS with $75,000 grant
In presenting the first installment to KABAS Manager, Patti Phillips in Cranbrook on September 15, SIDIT Director Cindy Popescul stated that “SIDIT is pleased to support KABAS with a $75,000 grant which will be paid in three annual installments of $25,000. SIDIT’s decision to fund KABAS was based on our view that KABAS has demonstrated the ability to diversify the regional economy and its assistance of Aboriginal business supports sustainable economic development.”
SIDIT is a Public Trust created by the Province of British Columbia with a $50 million one-time allocation to support economic development in the Southern Interior. Governed by a 13 member Board of Directors representing local government and the private sector, SIDIT focuses on opportunities that demonstrate measurable and sustainable economic benefits.
In 2007, its first full year of operations, SIDIT committed approximately $9.6 million in funding.
While the majority of SIDIT funding is earmarked for loans, $750,000 a year has been targeted as grants towards qualifying projects from non- profit applicants.
About the Kootenay Aboriginal Business Advocates Society (KABAS)
The purpose of the society is to provide advice, support and technical assistance to Aboriginal peoples (First Nations, Métis and Inuit) residing within the east and west Kootenay in regards to small business exploration, development and operations. Its vision is: To foster a diverse Aboriginal economy in the Kootenays.
The Kootenay Aboriginal Business Advocates Society provides Business Advocate services throughout the East and West Kootenay regions and works one-on-one with clients to help them to bring their business ideas from dream to reality. From their extensive resource library to assisting with the completion of business plans and funding applications, KABAS provides a hands-on, one-of-a-kind service to Aboriginal people.
“The funding assistance provided by the Southern Interior Development Initiative Trust allows KABAS to expand our service capacity,” says manager Patti Phillips. “With these funds, we are able to leverage into other partnerships which will enhance and expand the programs and services we provide to Aboriginal entrepreneurs in the region.” She adds: “The willingness of SIDIT to support us says much about their perspective of the value of the work we do and the contribution we make to the Aboriginal economy in particular and the regional economy as a whole.”
SIDIT funding award made to KABAS. Cheque presented to Patti K. Phillips, Manager, Kootenay Aboriginal Business Advocates Society (on the left) by SIDIT Director Cindy Popescul.
