BDC's Kelowna Branch Celebrates 50 Years of Helping Local Businesses

Pledges Continued Support for Diversification

KELOWNA, BC, Oct. 16, 2012 /CNW Telbec/ - The Business Development Bank of Canada is proud to celebrate the 50^th anniversary of its Kelowna business center this year.

Kelowna is the business hub for the entire B.C. Interior and a major vacationing and retirement centre, with one of Canada's oldest demographics. While tourism, agriculture and the wine industry all remain strong and are main drivers of the region's economy, BDC's Kelowna business center has also focused on helping local businesses continue to diversify into other sectors.

"We recognize that diversification is important for Kelowna's economic life, and we want to help our local entrepreneurs achieve that," says Scot Speiser, Vice President, Financing and Consulting at BDC for the B.C. North, Interior and Yukon. "Our team in Kelowna is seeking to build on the city's and region's many strengths, including strong collaboration among our professional community and our partner-oriented business sector," Speiser says.

BDC's Kelowna office is a full-service business center with 30 employees serving a vast territory—the South Central Interior of B.C. and Okanagan Valley.

Construction was a major source of strength for the local economy during the real-estate expansion from 2003 to 2008, but the sector has faced difficulties since the recession. Kelowna is building great national and international profile as a premier technology industry hotspot, home to organizations such as metabridge, Accelerate Okanagan, Disney Online, and Bardel Entertainment who produces for Nickelodeon.

"BDC recognizes the importance of investing in local businesses," Speiser says. "Our business center, led by Martine Hickman, will continue to support Kelowna's industries and businesses as it has for the past 50 years."

BDC's business center in Kelowna has 7 Commercial Account Managers and a Consulting Manager focused on Business Development. The business center also includes teams who perform loan underwriting, security and disbursement, portfolio management, and commercial loan adjudication. The business center represents all four of BDC's lines of business: financing, subordinate financing, venture capital and consulting.

About BDC
Canada's business development bank, BDC puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to more than 28,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca

SOURCE: BUSINESS DEVELOPMENT BANK OF CANADA

For further information:

Contact:
Maria Constantinescu
Senior Advisor, Public Relations
BDC
[phone]
[e-mail]