Chilliwack, BC – Stó:lō Community Futures (SCF) announced that it has approved a loan in the amount of $215,550 to Cheam Fishing Village, under its new Stó:lō Community Loan Fund a partnership with Vancity Credit Union (Vancity). This loan will facilitate further development and expansion of Cheam Fishing Village as it grows into a major Tourism draw for the area.
The next phase of the Cheam Fishing Village, which continues the initial opening funded by Stó:lō Community Futures last July, includes an upgraded electrical infrastructure to accommodate RVs, paving of road works to the Fishing Village and upgraded washroom facilities, to modernize the Cheam Fishing Village, as it continues as a major Aboriginal tourism attraction for the area.
The approval of the loan to Cheam Fishing Village under the Stó:lō Community Loan Fund, demonstrates a commitment by Vancity to support the development and expansion of Stó:lō Community owned businesses. “Vancity has a long and trusted relationship with the Stó:lō and we are very proud to partner with SCF to create the Stó:lō Community Loan Fund. With the support and guidance of SCF who will have the administrative authority and responsibility to manage the $1-million fund, we are proud to champion the growing entrepreneurial spirit and business success of the Stó:lō,” said Stewart Anderson – Manager, Community Investment (Indigenous Partnerships), Vancity.
“The Stó:lō Community Loan Fund is not only an important financial tool for Aboriginal business owners, it is a bold recognition of the growing economic vibrancy and positive impact that Aboriginal businesses are having in local economies throughout the Fraser Valley,” explained Shirley Hardman, Chairperson of Stó:lō Community Futures whose not for profit organization has been instrumental in elevating the profile and supporting the development of Aboriginal owned businesses throughout the Stó:lō Territory under the umbrella brand, STÓ:LŌ MEANS BUSINESS. “Vancity’s commitment is a tangible demonstration of confidence and respect for the First Nation Communities, that are expanding their business operations is Sólh Téméxw.”