Canadian Youth Business Foundation

Canadian Youth Business Foundation

October 10, 2013 17:30 ET

Canadian Youth Business Foundation and Regional Business Accelerator: Working Together to Support Young Entrepreneurs in Lloydminster

LLOYDMINSTER, SASKATCHEWAN--(Marketwired - Oct. 10, 2013) - The Canadian Youth Business Foundation (CYBF) is pleased to announce an exciting new partnership with the Regional Business Accelerator (RBA). The creation of this partnership will ensure that all eligible young entrepreneurs in Lloydminster can access the CYBF program.

CYBF offers young entrepreneurs age 18-39 a start-up package of mentorship and financing of up to $15,000 via low interest rate start-up financing and may qualify for a match or double match of financing up to $30,000 via CYBF's partnership with BDC- Business Development Bank of Canada.

"CYBF is proud to be working with RBA to support entrepreneurs achieve success," says Taunya Woods-Richardson, Director, Saskatchewan, CYBF. "This new partnership will allow our two organizations to work collaboratively in our shared goal of supporting entrepreneurs realize their dream of opening their own business and to support economic development of Lloydminster."

The Regional Business Accelerator offers programs and services that nurture new and growing businesses by providing mentoring and coaching, entrepreneur education, assistance in business planning and development, and in the future, space to host Lloydminster's newest entrepreneurs.

"The strategic partnership with CYBF extends the reach of our services to our members and allows support for our communities' entrepreneurs that wouldn't exist without CYBF," says Marya Pettigrew, Executive Director of the RBA. "Through this partnership we will have the ability to assist young entrepreneurial with mentors that are experienced, well connected and supportive. They will also have access to funds not traditionally available to young start up entrepreneurs."

"This partnership will make a positive difference in the lives of our young people and the vitality of our economy," says Leon E. Benoit, M.P., Vegreville-Wainwright Constituency, "Often, the difference between a mere idea and eventual business success involves just the right amount of counsel and mentorship. Through the partnership that has been announced today, our youth will have the tools they need to make their business blueprints a reality."

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About The Regional Business Accelerator

The Regional Business Accelerator works with our region's business owners and entrepreneurs to develop focused support for each unique business. Business incubation or acceleration is about fostering the start-up, growth, and retention of local businesses. The challenges that each business owner or entrepreneur faces is as unique as each individual. There are no cookie cutter businesses. The Regional Business Accelerator is here to connect businesses with expertise that they need; coach businesses through the challenges that they face and mentor businesses with personalized business solutions.

About the Canadian Youth Business Foundation

The Canadian Youth Business Foundation (CYBF) is a national non-profit organization dedicated to growing Canada's economy one young entrepreneur at a time. We look at character, not collateral, when providing youth aged 18-39 with pre-launch coaching, business resources, low-interest financing of up to $15,000, and industry-leading mentoring to help them launch and sustain successful businesses. CYBF's co-financing partner, the Business Development Bank of Canada, leverages CYBF's application process to provide up to $30,000 in additional support for CYBF entrepreneurs.

Established in 1996, CYBF has been recognized as a global leader in advancing youth entrepreneurship. CYBF is a founding member of the G20 Young Entrepreneurs' Alliance, the Canadian member of The Prince's Youth Business International, and the Canadian host of Global Entrepreneurship Week (being held November 18-24 in 2013).

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