Chesterville, ON – The SD&G Community Futures Development Corporation (SD&G CFDC)
announced today a $250,000 equity investment into the Garden Villa Retirement Residence (located in Chesterville, Ontario) in a highly successful effort to provide business counseling anda restructuring plan that put the retirement residence on the road to success.
Local MP Guy Lauzon said, “This assistance will ensure that we maintain 25 local jobs in the region. Our Government is a firm believer that small business is the backbone of our economy and the support of the SD&G CFDC along with the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) illustrates a firm commitment to grow jobs in Eastern Ontario.”
The Garden Villa offers 74 fully furnished rooms that have an assortment of floor plans, a variety of services, programs, recreational activities and 24-hour nursing supervision; The Garden Villa is quickly becoming a premiere choice for seniors in the Township of North Dundas and the surrounding area. Operating today at a 70 percent occupancy rate, the road to success for the Garden Villa wasn’t always an easy one.
“In 2010 The Garden Villa faced daunting financial pressures when financing for construction of the Villa facility fell though. Matters amplified for the premiere retirement residence when a majority of their pre-bookings backed out leaving them with only three occupants when their doors opened in July 2011,” said François Désormeaux, Executive Director of the SD&G CFDC.
The Garden Villa approached the SD&G CFDC for assistance. This lead to a very successful long-term relationship as the SD&G CFDC provided The Garden Villa with business counseling and a restructuring plan that was implemented in February 2012.
Sebastian Drugea, Chair of the SD&G CFDC said, “The SD&G CFDC through our funding
partners, is proud to be supporting local businesses and assisting them in reaching their goals.
Through partnerships such as this one, we are fostering the future successes of our local entrepreneurs, while creating and maintaining valuable jobs in our communities.” Funding for the Eastern Ontario Development Program is provided by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) and is delivered by the 15 local Community Futures Development Corporations in Eastern Ontario.
For more information on the Eastern Ontario Development Program, visit www.sdgcfdc.on.ca/en/eastern-‐ontario-‐development-‐program.