The early *70s saw the
start of a whole range of
activities to support the
small business sector
beyond actual financing
— now known collective-
ly as management ser-
vices.

The new program was
confirmed and _incor-

‘porated into the act in-

corporating the newly
named Federal Business
Development Bank
(FBDB), succeeding
IDB, in December 1974.
FBDB was to be a crown
corporation, with its
own chairman, presi-
dent, and board of direc-
tors. After 30 years it
was no longer to be a
subsidiary of the Bank of
Canada, although the
central bank’s governor
was to remain as a direc-
tor, said Len Winter,
FBDB Branch manager
in Terrace.

Over the years since
1944, IDB and _ later
FBDB, have been involv-
ed in financing Canadian
businesses coast to coast
in virtually every sector:
manufacturing, whole-
sale and retail business,
tourism, construction,
and the whole spectrum
of service enterprises,
Winter said.

From 1944 to date,
loans totalling well over
$8 billion have been
granted to assist more
than 120,000 smal! and

FBDB incorporated

medium sized businesses
of all kinds. Some 20,000
loan customers are on
FBDB's books today.
They employ between
250,00 and 300,000
Canadians and they
create an estimated 5,000
permanent new jobs a
year. In the latest fiscal
year to March 31, 1985,
there were some 2,900
new FBDB loans for a
total of $527 million.

Such FBDB figures
may not appear im-
mediately spectacular,
especially in contrast to
the kinds of numbers to
be seen in current
chartered bank balance
sheets. But the figures
need to be looked at very
much in context. Most
such lending is necessari-
ly in small packages —
there is no such thing as
a multi-million-dollar
loan at FBDB, Winter
explained. The average
loan size was $183,000 in
fiscal 1985, while half of
the loans were under
$83,000.

None of which is to
say that today’s small or
medium size business
cannot become tomor-

-row’s Lig business, Cer-

tainly [DB and FBDB
were around when they
were needed to back
many of today’s major

enterprises as they got

off the ground, Winter
noted.

‘Terrace Review — Wednesday, Feb. 12, 1986 17

ae | BY TOM ARMSTRONG
ISPEND ALL * Psiiti | aANOTHEN | SOHOWCOMEDAD Says
DAY AT THE Pit] EPe) WHENIGET | THAT EVER SINCE MoM
OFFICE ii | bi33) HOMETHAVE | WENT BACK TO WORK,
PARERWORK REA\ A eae SOUT OF
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IN Go

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fp TW Peery Bt ate

B.C.

BY JOHNNY HART

UR SWEET

HOW COME YOUR YAMS ARE

MORE EXPENSIVE THAN

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UJH,..WERE TALKING ar I AT THE RIGHT ROCK OR WHAT ? |
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Located beside the Dairy Quean
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SPECIAL ICBC RATES .

So Low You Wouldn't Believe it

Lasi week we accepted 100%
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