Cheam Fishing Village receives first loan from Vancity-funded Stó:lō

A million-dollar fund created in late 2014 to provide funding to Aboriginal businesses in the Fraser Valley has made its first loan to Cheam Fishing Village.

Stó:lō Community Futures (SCF), a partner of Vancity has approved a loan in the amount of $215,550 to Cheam Fishing Village, under its new Stó:lō Community Loan Fund. This loan will facilitate further development and expansion of Cheam Fishing Village as it grows into a major tourism draw for the area.

The next phase of the Cheam Fishing Village includes an upgraded electrical infrastructure to accommodate RVs, the paving of road works to the Fishing Village, and upgraded washroom facilities to modernize the Cheam Fishing Village as it continues as a major Aboriginal tourism attraction for the area.

The approval of the loan to Cheam Fishing Village under the Stó:lō Community Loan Fund, demonstrates a commitment by Vancity to support the development and expansion of Stó:lō Community owned businesses.

“Vancity has a long and trusted relationship with the Stó:lō and we are very proud to partner with SCF to create the Stó:lō Community Loan Fund. With the support and guidance of SCF who will have the administrative authority and responsibility to manage the $1-million fund, we are proud to champion the growing entrepreneurial spirit and business success of the Stó:lō,” said Stewart Anderson, manager, Community Investment (Indigenous Partnerships), Vancity.