by Richard Gleeson
Northern News Services

NNSL (Mar 09/98) - North Slave and South Slave businesses have the lion's share of Business Credit Corporation loans, the corporation's 1996-97 annual report reveals.

According to the report, released last month, North Slave businesses hold a total of $8.3 million in loans from the corporation. South Slave businesses have $7.3 million.

South Slave businesses applied for and got a major cash injection from the corporation in 1996-97, collecting $7.1 million in new loans.

The corporation was established to spur economic development in the North by making capital more available to NWT businesses.

The North and South Slave account for well over half the $26.7 million in corporation loans held by NWT businesses.

At the bottom of the list was the Sahtu, which received only $616,000.

The same year the corporation forgave a total os $624,192 in loans to six different businesses.