The Bega Valley Shire Council adopted an Economic Development Strategy (EDS) in mid-2015. The EDS identifies objectives and strategies to achieve them over the period 2016 to 2021. The EDS recognises Council has a role supporting the economy at the local or town and village levels and also at a regional or Shire wide level. The Regional Microcredit pilot is one tool being used to achieve these objectives.
Bendigo Bank have partnered in this program because of its ongoing commitment to the growth of the Bega Valley Shire.
The program provides a limited number of no interest, fee-free loans for eligible applicants who wish to start or expand an existing business. The program will also provide loan recipients with business skills development, individual mentoring, peer support and access to networking events.
The loans target younger entrepreneurs from the ages of 18 through to 40. Other entrepreneurs are encouraged to apply.
Loans are available on a competitive basis.