by Doug Ashbury
Northern News Services

NNSL (Apr 27/98) - Students seeking summer employment could create their own jobs, according to the Business Development Bank of Canada (BDC).

Under a student business loans initiative, part of a federal government program, up to $3,000 is available to student entrepreneurs.

The loan program is run by BDC and Human Resources Development Canada.

University, community college and high school students are eligible as long as they plan to return to school in the fall and are aged 15 or older.

The loans are available on a first-come first-serve basis up to June 25, 1998. The loans are interest- free until the due date Oct. 2, 1998.

Students who fully repay the loans of a minimum size of $1,000 between Aug. 3 and Sept. 4 of this year will get a $100 rebate.

Ron Cymbalisty, BDC branch manager in Yellowknife said Northern students who have utilized the program "have done well."

Last year, BDC issued four student business loans worth $11,500 compared to $7,800 in 1996.

BDC special accounts manager Jim Harrison said Northern projects have included food sales operations.

Harrison, Yellowknife IBC branch manager from 1984 to 1987, said one of the neatest ideas he has seen is a barbecue cleaning service in Winnipeg.

Norm Oakley, BDC senior vice-president and area manager for the Northwest Territories, Manitoba and Saskatchewan, said: "Running a summer business provides invaluable learning opportunities and helps develop such skills as planning, organizing and managing."

Last year, 1,174 loans worth $3.3 million were provided to students who created 2,466 jobs. This year, $3.5 million is again available under the program.

To be eligible, students must detail their projects. Applications can be picked up at BDC, the Human Resource Centres of Canada and Royal Bank.