Photo from L to R: Christian Prost, owner of North Riders and CYBF's first young entrepreneur in North Bay), Councilor, Dave Mendicino, Mayor Fedeli, City of North Bay, Anthony Rota, MP Nipissing – Timiskaming, Robert Jessup, CYBF Mentor, Corey Cox,
Photo from L to R: Christian Prost, owner of North Riders and CYBF's first young entrepreneur in North Bay), Councilor, Dave Mendicino, Mayor Fedeli, City of North Bay, Anthony Rota, MP Nipissing – Timiskaming, Robert Jessup, CYBF Mentor, Corey Cox, owner of Mud Pup's Pallets and most recent CYBF recipient. Photo provided.
Canadian Youth Business Foundation News Release
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The Canadian Youth Business Foundation (CYBF) is celebrating their Grand Opening in North Bay. The CYBF is a national charity providing start-up financing, mentoring and business resources to help young people start their own businesses. “Running your own business can be challenging especially for young entrepreneurs who are just starting up,” said Tanya Bédard, Business Manager- Northern Ontario. “CYBF enables young entrepreneurs to make their dreams a reality. We know that success takes more than money. That’s why our programs are based on a four-pronged approach – the right mentoring support, the right financing, the right community support and the right business resources. Together they add up to success.”
The new office is located downtown North Bay and is ready to start assisting young, aspiring entrepreneurs to launch their new businesses.
As part of the Grand Opening, a cheque presentation was made to CYBF’s newest recipient, Corey Cox, owner of Mud Pup’s Pallets with special guest, Christian Prost from North Riders, who two years ago, was the first young entrepreneur to receive CYBF financing in the North Bay area. Mayor Fedeli and Councilor Mendicino were present for this ceremony supporting CYBF’s goal to assist young entrepreneurs in connecting with financing and mentorship.
“This program is quite unique”, says City Councilor, Dave Mendicino, who is also a member of the CYBF loan review committee. “It is a program for young people with great ideas, and CYBF has the tools to help them make it happen.”
CYBF offers start-up mentoring, financing and business resources for young Canadians, age 18-34 in order to create their own successful business venture. Loans are issued based on character, not collateral. The program was designed for young people who would not qualify for funding through conventional means. Programs such as CYBF help these young entrepreneurs to develop and prosper closer to home mitigating the high levels of youth out migration.
Since founded in 1996, CYBF has invested in more than 2,500 young entrepreneurs, whose businesses have generated more than $284 million in sales revenue, $66 million in tax revenue, $30 million in export revenue, and created more than 14,000 new jobs. Through CYBF’s national framework of community partners we are able to deliver our program to more than 1,200 communities across Canada. CYBF is an accredited member of Youth Business International, a global network of business start-up organizations. CYBF is headquartered in Toronto, Ontario, with offices across Canada. Information about CYBF is available at www.cybf.ca
