Mr. Speaker, I rise today to recognize and compliment the newly named Business Development Bank of Canada for creating a new micro business loan for small business.
This program is aimed at helping both existing and new small businesses with amounts up to $25,000. It will help ensure that the entrepreneurial spirit in Canada is encouraged and that ideas that will lead to new businesses and new employment will not be starved for lack of capital.
An important component of this program is training. All participants will be required to demonstrate their ability to handle the financial aspects of operating a small business.
This is an example of the bank's new role as a complementary lender. It is an example of the government's commitment to small business and it is an example of how government can create an environment in which the private sector can create jobs. I applaud this initiative.