by Nancy Gardiner
Northern News Services

NNSL (Feb 05/97) - The Business Development Bank of Canada has passed the $1-billion mark in small business loans to Canadians in 1996.

The bank approved 6,040 new loans, an 11-per- cent increase in bank commitments compared to the previous year.

"Small business is booming in Canada, says Francois Beaudoin, president and chief executive officer of BDC.

"The most important trend we noticed last year was the increased activity we experienced with companies involved in knowledge-based and export-oriented business. These two areas were priorities for the bank in 1996."

There was also a strong demand for BDC Management services in 1996.

More than 9,000 businesses used the bank's counsellors last year and demand for management support services doubled among businesses involved in the new economy.

The BDC of Canada is a financial institution wholly owned by the government of Canada.

Under its current mandate, it focuses on businesses in the new economy with strong growth and export. It offers unconventional financing, venture capital instruments and management services.