Summerland Venture has attracted a lot of attention and project funding should be announced before the end of the year.
The Summerland Credit Union’s venture capital program, announced in October, has been set up to encourage local enterprises that will build the local economic base and create jobs.
Kelly Marshall, chief executive officer of the local credit union, said a steady stream of people have been coming in to ask about applying for venture capital.
“We’ve sat down and talked to lots of people.”
While Summerland Venture has yet to finance a project, Marshall expects the first approvals before the end of the year.
Summerland Credit Union is making available $500,000 in capital for eligible projects in the form of a loan or equity investment.