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A10 - The Terrace Standard, Wednesday, December 22, 1993

TERRACE “STANDARD |

USINESS REVIEW

New leaf for Frank home

ONE OF the city’s premiere
pioneer . homes is moving
downtown.

The Floyd and Eileen Frank
home on Frank, St, now owned
by West Fraseriand located right

next door to its miltis being sold.

to Darlenc’s Couiitry Antiques.

Store owner Darlene Berfelo-

will convert the home to be new
place of business.

“[’ve been looking’ for a build-
ing ever since I moved here,”
said Berfelo who opened her
store four years ago. :

Her plans, once the building has

been moved to a downtown loca- | -
tion, is to renovate the Structire |
so it looks-as-close as possible to- f

its original state.

“T don’t think we can do much
to the inside, It’s been changed
already,'* sald Berfelo.

West Fraser wants to use home
location and surrounding land for
a new value-added wands pro-
ducts mi:

“T had heard they were ‘thinking
of ‘moving or doing. something
with :it.and. they wanted some-
body to have access to it, to make
it moré like a’ public building,”
Berfelo explained,

“T went out there, talked to
(mill. manager) Don Chesley, put
in an‘ offer and they phoned and

* said it we could have it? she

continued.

The home will be put ona full
foundation and an existing car-
port removed,

“Its in good shape. We’re
quite happy,” said Berfelo.

She said buying land, moving
the home and renovaling it isn’t

ith

ON WALL ‘Stree! it’s ‘called
leveraging — big time whecling
and dealing in billions of dollars
for massive corporate takeovers.
Joe ‘Whitney uses. the same

word. but i ina much different con-

text.

He’s in charge of ihé business
development centre ‘GE. 16-37...
Community Futures, a ‘federally- ‘

financed agency that helps smal!
and medium businesses elther get
siaried, expand of. Stabilized. It
has just Gnished its fourth year.
The centre lends. money directly

4o businesses. | “Tt: sean. then be-
leveraged to borrow. myqney from

other institutions. .

There’s another, side . of the 7

ceiiife.and that is its assistance In
prepating business plans.

: “don’t think anybody in ovr. |
whole: afea back in 1989 knew’
what a’ business plan was or what":

they were utilized for’? - Said
Whitney. ;

‘The centre: doesn’t charge for
the plans which are used as the

- guiding document by a. business

and which are also used to judge
loan applications. —

“hE. think | if you: -ask. around ..-

you'll now find a wide spread ac-.

ceptance of business plaids. Banks:
request them now all the, time,”

sald: ‘Whitney. a

His: comments “come | as. ‘the
centre. marks its fourth yen of
business.

‘The centre can tap into a $1. 55
million loan pool from the fe deral
government for direct lending: to
businesses:

It’s used. approximately

$675,000 of thal. so far..which, -

with repayments from businesses,
has generated.a total: of $1. 6 mil-
lion in loans.

Leveraged loans amounted to
an additional $9,356 million.

The cénire also handled $2.3
million through fo programs to
‘assist people on une¢mployment —
‘insurance or on social assistance
‘to start their own busisiesses.
"That's $13.275 million since
‘we opened our doors in October
1989, ” Whitney noted. |

” Most pleasing to Whiiney is the
‘low ‘failure rate of. the centio’s

Clients, ©:
» S*At the deginning we Felt that
if we'had 8-70 per cent ‘success
rate, we would. be, doing. well,”
-sald Whitney... -

“Our success rate is ‘low. 90 pér

cont, I think that says a lot for the
businesses,” he added.

J cut and styles, naturally a hair

| Color & Highlight Special

HIGHER PROFILE is in the
cards for the Frank home now
on. Frank Ave. Its being
moved downtown by Darlene
Berfelo, pictured here, to serve
as the new location for Dar- ©
lene's Country Antiques.

‘much difference in cost to build- .

ing new quarters.

“But I don’t want a new build-.
ing, Concrete’s too cold for anti-
ques,’” Berfelo added.

She hopes to have the house
moved and in its new location by
Spring.

gente notes.

~ Joe Whitney

Of 10 business that failed, eight
“yesulled in foreclosures and two
were written off as bad debts,
Whitney continucd. ©:

“We basically. ost

businesses because of poor mian-

those ;

4

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Pe a

CHRISTMAS
TREES

2 pave City of Terragp: willpic
‘Ohristmas trees dovthey can’ bet
composted,

“THE CITY OF —

| TERRACE

Please place your tree out with your: refuse on |
your scheduled collection day, during'th the v week of.
January 4 - 10, 1994. .

lf you take your tree to the. ‘City. Landfill site,
please follow the attendant’ 8 directions.

Thank you, and Season's Greetings!

City of Terrace ae

&

Lagement — not following their. §

business plan or not willing toac-

. cept advice,"” he said.

“That same 90 per: cent SUCCESS :.
-_ rate’ applies. to the unemployment.

“insurance and social assistance
programs, Whitney said.
_ All told, the centre has had 816
‘clients over the past four years.
More than half of the clients
have come from Terrace and they
have received nearly half of the
loans, a factor not surprising to
“Whitney because of the’ city’s
size and position as a service and
business centre for the northwest.
The centre .covers Terrace,
Kitimat, Stewart, the Hazelions,
the Nass Valley and up Hwy37 to
Telegraph Creek and Iskut.
Hazelton ranks second in client
loans with the Nass third, Stewart
- fourth and Telegraph Creek/Iskut
fifth and Kitimat sixth.

If there is-a business sector that “ o
. 8 open to develapment, particu.
larly in Terrace, it’s tourism, sald ~~

Whitney.

“We have to start butlding ay
‘some infrastructure to retain those

‘tourists rather than letting them
‘drive through,’ he said.

“We have everything people
want in the northwest — scenery, . 9°

‘wildlife, rivers, fishing, hiking,”

Wale continued.

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Terrace, British Columbia
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“Foy Unto Us A
Child ls Born”

| Christ Lutheran Church
invites you to join us in celebrating
| ‘the birth of Christ at our
_ Christmas Eve Candlelight

"December 24
| 8:00 pm
3229 Sparks Street

Pastor Terry Simonson...

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"The Dealer Who Cares”
Desist No, 7041

Bt 3040. Huy 16. ist Terrace |