Page 8 — Progress Edition, March 25, 1992 ald] vialinficfiel[s] noe } {Co Loans group sets up shop Natives gain business foothold TERRACE — It’s been nearly a~ year since a native-based business loans organization opened an office here. Tribal Investment Resources Corporation (Tricorp) began in Prince Rupert in 1989, it can receive up to $4 million from the federal government ta loan to new native businesses or those that want to expand. Tricorp has three tribal span- sors — the Nisga’a in the Nass Valley, the Haida on the Queen Charlotte {slands and the Tsimshian. Tricorp is gradually in- creasing its investment pool through interest payments made on loans. The office here marks the ex- pansion of Tricorp because the Gitksan and the Wet’suwet'en — who live in the Hazeitons — have now joined, says local Tricorp official Arthur Mercer. And it means better being able to help native businesses in this area, he said. "We're pleased to be able to get into this area. It’s something native people have talked about,” Mercer added. “Our mandate is to foster economic development and we'll be able to do that better now,” he said. The loans Tricorp makes are at market rates. Its backing of native businesses comes in the form of capital loans, operating loans and bridge financing with other financial institu- tions . and government pro- grams. .Tricorp through the business development centre of 17-37 Community Futures, “another federally-backed’ organization here, “also. gives assistance in drawing up business plans. Speaking at.a meeting here in January, Tricorp chief ex- ecutive officer Frank Parneil said it has already committed about $3 million of the $4 million set aside for it by the federal government. He anticipated ‘increased lending opportunities now that the Gitksan and Wet’suwet’en territory has been added. That'll more quickly draw down the remaining $1 million in the available federal money, Parnell said. “The money from the initial agreement will be used quicker and we'll then be able to negotiate a new agreement faster,” Parnell added. Tricorp is gradually increas- ing its investment pool through interest payments made on loans. It’s also receiving an annual operating subsidy from the federal gavernment but Parnell said Tricorp should be self sufficient once it has $5 million lent out. Businesses which use Tricorp must provide an equity contribution of 10 per cent of the overall financing package. The maximum amount of money available for any single project is $250,000, or 75 per cent of the cost, whichever is smaller. . Tricorp is one of 29 such native-based loans organiza- tions across the country. There are six in B.C. A NATIVE economic presence is being felt in the city and area through Tricorp, which stands for Tribal Resources Investment Cor- poration. On the left is local Tricorp officer Arthur Mercer from the Nass Valley. With him is Prince Rupert-based corporation chief ex- ecutive officer Frank Parnell. HIGH QUALITY... Within the store, Terrace Furniture carries lines such as HOT POINT, WHITE, WESTINGHOUSE, MITSUBISHI, SEALY, SER- TA and many other top of the line brand names. We can arrange financing as well as delivery in the Ter- race market. Present loca- tion, high quality and low prices, the motto of Ter- race Furniture Mart. Kewal bal owner/manager of Ter- race Furniture Mart opened the doors locally in 1988. “Car- rying a fine selection of quality furniture at reasonable prices’ is the key to success remarks Kewal. the way.” Heritage Park was conceived by a group of local people who wanted to see the area’s historical log buildings. saved for future generation, Opened in 1983, the park now pulls in more than 5,000 visitors each year and has been mentioned in the Canadian Book of the Road as one of the northwest’s “must see” at- tractions. Uniquely Yours Bridal Shop first opened its doors in April of 1991, and owners Kelly-Mattern and Lisa Stella are proud to offer a service so “unique” to Terrace. “We're so much more than a bridal shop” explains Kelly and Lisa, as well as bridal gowns and tuxedo rentals, Unique- ly Yours carries ladies formal wear, grad dresses, lingerie, shoes and shoe dyeing, invitations, decorations, truffles, wedding cake decorating, wedding accessories and the list goes on! Things have been gaing so well Uniquely Yours recently moved their store to a newly renovated, larger location, enableing them to expand their selection in several areas. With ail this to offer as well as a convenient location in downtown Terrace, the friendly and helpful staff are sure to make that special day “uniquely yours”. Uniquely Yours 4613 Lakelse Avenue 635-1 73 What Makes a ompany Great?... The Federal Business Development Bank have been backing independent business. Since the Terrace office opened in 1972, FBDB has been providing | services such as loans, counselling, training and planning packages. Recently they have taken on 7 counsellors and offer counselling out of the Terrace office, with the expertise of our local CASE counsellors. We pride ourselves on being able to assist business clients in training, or pro- viding funding for their projects. We're a good business partner every step of ‘Greg Hazel = Account Officer . Bob Walch < Co-ordinator, Training - ‘Dave Richardson « Senior Account Manager - Paul Williams = Branch Manager QUALITY YOU CAN TRUST Terrace Furniture Mart 4434 Lakelse Avenue, Terrace langues officielles. 638-0555 Federal Business Development Bank de développement : La Banque offre ses services dans /es deux — 4641 Lezelle Avenue, Terrace, B.C. COMMITTED TO YOUR SUCCESS Banque fédérale A (6 a RE A Rs A 9 RS YY: ONE OF A KIND! Canad a | - 935-4051