Doug Ashbury
Northern News Services

NNSL (Mar 31/99) - The Akaitcho Business Development Corp. will make it official Thursday.

The organization, located in the Narcisse Betsina Business Centre in Ndilo, will host a grand opening at the nearby Smokehouse Cafe at noon.

Cathy MacDonald, Akaitcho Business Development's general manager and its lone employee, said the corporation just recently received its 1998-99 funding from the territorial government. The funding includes $275,000 in investment funds and $137,500 in operational funding.

The corporation, which represents the Community Futures program, offers repayable loans of up to $75,000 to new and expanding businesses in Ndilo, Dettah and Yellowknife. The corporation will take a shared approach to lending, joining with banks or other lenders.

On business assistance, "we like to partner with other agencies like Municipal and Community Affairs and Indian and Northern Affairs," MacDonald said.

The corporation also assists with business plans, counselling, marketing and financial statements.

There is also an education and training component to help communities improve local economies, she said.

The corporation has advertised for a business analyst. MacDonald said a dozen resumes were received.

So far, "we have two clients, one in clothing design and one in forestry," she said.

The Akaitcho Business Development Corp. is governed by a board of seven representing Ndilo, Dettah and Yellowknife.

Ndilo board members are Darrell Beaulieu and Ernie Abel. Representing Dettah are Theresa Charlo and Jimmy Beaulieu. The Yellowknife board members are Terry Ward and Alan Vaughan. Peter Liske serves as member-at-large.

Ex-officio members are MacDonald, RWED manager of trade and investment, Bob Murphy, and RWED regional development officer Tim Beaulieu.