Thank you, Mr. Speaker. At this time, I would like to bring attention to the matter of access to development capital, access to loans and access to basic business services in the communities outside the major centres.
Mr. Speaker, I have previously brought this matter to the attention of this government and I see the need to once again raise the issue. The Business Program Review Committee completed a review on the single window concept that would see the amalgamation of the business programs offered by the NWT Business Credit Corporation, the NWT Development Corporation, Community Futures and RWED.
Mr. Speaker, I am concerned that this single window will not work unless another option is provided to persons or businesses seeking development capital, loans and support services. Mr. Speaker, as an example, if I am turned down by one of the banks for a loan, I have an option to go to another commercial lender. However, with this one-window concept, if I am turned down by this new agency, I will then have no options.
Mr. Speaker, with the increased business opportunities it is now possible for persons in business in the aboriginal communities to participate in the development that is occurring around us. Therefore, it is important that these communities have access and options to programs that support new businesses. The organizations that provide development services must also consider the political environment of the community and the individual character of the applicant when conducting evaluations. In the absence of this approach, many businesses in our small communities were not provided for or even considered by the banks.
Mr. Speaker, it is here that I wish to inform and make this government aware of another development lender in the Northwest Territories. This other developmental lender has been around for approximately 11 years. It is 100 percent owned and operated by the Metis and Dene of the Northwest Territories. All of the regions in the Northwest Territories are represented on its board of directors. It administers loans, contributions and aftercare programs for aboriginal businesses.
It has an agency relationship with Aboriginal Business Canada, and most importantly, in addition to conducting a formal business evaluation, it considers the person or persons involved to ensure the application is given due consideration.
Mr. Speaker, this organization is the NWT Dene-Metis Development Fund, an aboriginal capital corporation that commenced operation in 1991. Seed capital from this organization was provided by the Government of Canada. Today, this organization finds...