SIDIT’s mandate is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in 10 key sectors (forestry, pine beetle recovery, agriculture, mining, tourism, small business, Olympic opportunities, energy, transportation and economic development). Within its mandate, SIDIT will lend to, and invest in, promising commercial enterprises that may not qualify for credit through traditional sources. SIDIT will assess the long‐term potential of lending and investment opportunities and take a more patient position than would a traditional lender.
SIDIT equity investments will be provided to mature stage, high‐potential, medium risk, growth companies. SIDIT will take an approach to commercial lending that is between conservative and moderately risky, with considerable emphasis placed on the integrity and management skills of the business covenants.
In addition to funding focusing on the 10 key sectors, SIDIT will also evaluate funding based on the following:
Initiatives that lead to increased commercial activity;
Initiatives that result in sustainable job creation, job preservation, or enhancement;
Initiatives that contribute to the diversification of the economy;
Initiatives that contribute to small community economic sustainability;