Cedar Meadows Resort owner in Timmins says Venture Centre helped grow the business

Timmins -

Cedar Meadows Resort and Spa in Timmins is known as a place to get away from it all, but with city amenities just a short drive away.

Local owner Richard Lafleur has leaned on the Venture Centre, a Community Futures Development Corporation, for advice and financial assistance in order to grow it to what it is today -- a nature lover's haven.

“Thank God for them or otherwise I don’t think we’d exist today," said Lafleur. "That’s what it’s all about. I mean it’s nice to have some money, but projects always cost more than anticipated and they were there to help."

"Our relationship is almost 20 years old," said Roxanne Daoust, executive director of the Venture Centre.

"So when they were creating the Spa Nordic, we came through with an equity position to help them to access additional funding to complete the project and then that was a very successful relationship."

Lafleur said some people might think the money from the Community Futures Development Corporation is free, but it's not. It's a loan.

“By working with them, we moved a little bit quicker," he said. "Instead of waiting five years to get the project going, we got it going, say, within two years. It just speeds things up."

With the COVID-19 pandemic lockdowns affecting bottom lines of many businesses, CFDC officials said they did not stop entrepreneurs from dreaming big.

"It’s amazing the contribution that these small CFDCs are making in their communities," Daoust.

"You know the impact of $6.3 million, you know with leverages, that was an $11 million economic contribution in our community just last year alone."

Daoust said the Venture Centre works with entrepreneurs at all stages. And, with a local board of directors making decisions, she said it understands the community's needs. She said it's a great feeling to have a role in creating jobs and growing the local economy.