Non-profit blames high interest rates
The Pontiac chapter of the Société d’aide au développement des collectivités (SADC) held its 39th annual general meeting at Otter Lake’s Raymond Johnston Community Centre on June 5 to update the public on the work the non-profit has completed in the past year and hold elections for four seats on its board.
The organization supports local entrepreneurs in building their businesses by way of loans and skills training.
In the 2023-2024 fiscal year, the non-profit gave out $361,500 in business loans, down about $150,000 from the amount given out in the 2022-2023 fiscal period.
Of the business loans given out, 43 per cent were for expansion and modernization projects, and 57 per cent were for business start-ups.
The report noted another $260,000 in loans was approved but had not yet been dispersed.
“Last year was quite low compared to our normal years,” SADC business advisor Sarah Graveline told THE EQUITY, explaining applications for loans were lower than they had been in years prior.
“The reason is everything that has to do with the economy. Everyone was on pause. They didn’t want to spend more. They didn’t want to borrow.”
Graveline said loan application rates in the 2024-2025 fiscal year are already back on track.
“It’s been busy. Applications are starting to pick back up. If we haven’t surpassed the numbers from last year, we’re pretty close,” she said.
Another $160,780 was given out to seven entrepreneurs under the youth strategy loan program, the second of two primary funding programs offered by the SADC. This loan is available to entrepreneurs between the ages of 18 and 39 and is interest-free for the first two years.
Beyond administering its two primary loan programs, SADC Pontiac also developed programs to encourage and support entrepreneurs in transitioning towards environmentally sustainable practices and to become more digitally savvy.
“We’re in a hard moment where we’re introducing AI, we’re trying to learn it [ . . . ] It’s our job to make sure if we can’t [help you learn it], we find you the right resources,” said Rhonda Perry, SADC’s director general.
In keeping with this focus on empowering local business owners in the . . .
evolving technological world, the SADC will be organizing what was briefly described as a “technology summit” at Pine Lodge in late September.
Following the presentation of the organization’s annual report, the SADC team held an election for four seats on the board.
Otter Lake mayor and the evening’s emcee Terry Lafleur was re-elected to the Entrepreneur Pontiac Centre seat. Randy Labadie resigned from the Entrepreneur Municipality of Pontiac seat after 11 years in the position, and was replaced by Trefor Munn-Venn of Luskville’s Fermes Leystone.
“We always enjoyed that you added humour,” Perry said, following a goodbye slideshow to honour Labadie’s time with the board. “Your contributions have been invaluable and your presence will be missed.”
Ellen Boucher was elected to the Social Economy seat, and Leanne Smart was elected to the Women seat.
Local entrepreneurs discuss ups and downs
This year’s AGM was followed by a panel discussion between three Pontiac entrepreneurs: Dan Duggan from Pontiac Home Bakery, Caroline Desrosiers from La Vallée des Rosiers et Escapades Huskimo, and Dr. Isabelle Gagnon from Clinique Chiropratique du Pontiac.
The conversation, guided by SADC’s Amy Taylor, touched on the panelists’ challenges and successes as business owners in the Pontiac.
“Small communities are wonderful, but they can be challenging,” said Dr. Gagnon. “If you do something wrong everyone will know about it. So you really, really, really need to focus on doing everything right.”
Duggan said a highlight for him was winning ‘The Sweetest Bakery’ prize for the Eastern Canada region in 2018.
But aside from this validating moment of recognition from the world beyond Pontiac’s borders, Duggan’s real sense of accomplishment comes from “building a relationship and building something people remember you by.”
