The Alberta government’s partnership with ATB Financial furthers small business growth and economic diversification in the province.
Joe Ceci, President of Treasury Board and Minister of Finance, joined ATB president Dave Mowat, along with Calgary entrepreneur and small business owner Rob Horricks, at the grand opening of a new Blush Lane Organics store in Calgary on September 23.
The opening reinforces the government’s efforts to increase capital for entrepreneurs to ensure Alberta’s small and medium-sized businesses succeed.
“When times get tough, Albertans are known for rolling up their sleeves and making opportunity out of adversity. Blush Lane’s made-in-Alberta success story is an example why our government sees small and medium-sized businesses as key to growing and diversifying Alberta’s economy. Providing ATB with added capacity to make new loans to small and medium-sized businesses supports those efforts.”
In October 2015, the Alberta government increased the capital available to ATB by $1.5 billion for small and medium-sized business loans to support entrepreneurs and job creators.
“In the first quarter of this fiscal year, ATB made more than $750 million in loans to small and mid-sized businesses. That’s $23 million more than we did in the same timeframe last year and it represents 171 more businesses than were supported last year. But that’s just the numbers story on paper. The people story out there is that Albertans are in a time of economic challenge, and that entrepreneurs continue to do good business in Alberta, and that ATB continues to help.”
“Like many Alberta small businesses, Blush Lane Organics began as a simple idea that was fueled by passion. Today, we are opening our third retail store in Alberta and have been able to grow and succeed because of the support we’ve received by ATB small business loans. That support, along with the provincial government’s commitment to Alberta small businesses, will ensure companies like Blush Lane are able to expand and grow even in a tough economy.”
ATB’s total loans outstanding to small and mid-sized businesses now stand at $7.3 billion, representing year-over-year growth of $632.2 million. Lending decisions are at the discretion of ATB Financial.