Trenval recently held its 37th Annual Meeting reporting on how the organization has supported local businesses and community organizations.
Trenval assisted a total of 140 businesses with loan and non-loan services with a job impact of 345. The organization provided access to capital of $2,678,000 to 29 businesses. To date, the organization has assisted over 970 businesses with $45 million in business loans and impacted more than 8,000 jobs.
“I’m very proud to release these results as Trenval has had another successful year supporting local businesses and compliment our staff on all the hard work and commitment to the community,” said Amber Darling, Executive Director.
“The Trenval team is here and ready to assist local entrepreneurs with starting or expanding their businesses and can provide business services in cash flows, marketing, succession planning and business plans,” she said.
It was highlighted that Trenval will be allocating $100,000 of its Community Futures programing to offer Trenval’s Community Empowerment for Economic Development (CEED) initiative. Trenval highlighted that this is the second year the organization supported its economic development programing, and last year, the organization contributed $75,000 toward 13 projects in the catchment area. “A total of $100,000 will be available to bolster the community’s not-for-profits who need funding to get a project off the ground or enhance existing activities,” said CEED committee chair Bev Woods.
The CEED initiative is intended to enhance the economic growth and well-being of the community with non-repayable contributions up to $10,000. Applications are now available on the Trenval website with a closing date of August 9.
Trenval is pleased to announce the appointment of a new Chair, James O’Shea, taking over the reins from Joanna March, who has served as chair for the past six years.
Trenval is also excited to welcome three new Board Members, Asad Rizvi, Karin Gorgerat and Chris Frazer. All new members collectively enhance Trenval’s Board with their business acumen and community work.
Trenval extends warm gratitude to two outgoing board members. Departing the Board are David Wilson and Michael Beeston who both have been involved in the organization assisting on multiple committees leading to the success of Trenval over the last number of years.
