Canada Bay Construction, a family-owned and operated business in the White Bay Central Region, is improving its ability to meet its growing market demand with the help of a $100,000 term loan from the Provincial Government.

"Working capital and financial support from traditional lending organizations is not always easy to come by for small companies," said the Honourable Shawn Skinner, Minister of Innovation, Trade and Rural Development. "As a government, we are working to bridge this gap and enable our small and medium-sized businesses to take the required actions to increase their competitiveness and productivity."

With the financial support from the Provincial Government, the company will acquire rock crushing equipment that will improve its ability to provide crushed stone product to industrial and residential customers. The new equipment will make these products available in the Roddickton, White Bay and St. Anthony area.

"As a small family business we have managed to sustain ourselves by providing dedicated and affordable services to our clientele for more than 30 years," said Randy Hancock, owner, Canada Bay Construction. "This new funding will go a long way to help us continue to provide these services and to expand our business to meet the growing needs of our area."

Canada Bay Construction holds permits for quarries in the White Bay Central Region that are used for topsoil, shale rock, and aggregate. It also provides landscaping and other services for many retailers and facilities in the region.

This initiative was provided through the Small and Medium-Sized Enterprise (SME) Fund, which through Budget 2009: Building on Our Strong Foundation has allocated more than $12 million for investment. The SME Fund is available for start-up, modernization, or expansion of a business venture in key growth sectors.  A maximum of $500,000 is available per project with an applicant investment of up to 20 per cent of project costs.

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