Nova Scotia Business Inc. (NSBI) has authorized a $1.5 million loan guarantee to assist Ledwidge Lumber in establishing a new private-sector line of credit.
Douglas Ledwidge, president of Ledwidge Lumber, said they have grown their family business over 70 years.
“Recently we’ve made our own investments in a new planer facility, an efficient and environmentally friendly dry kiln system that runs on wood shavings, and a new saw line,” said Mr. Ledwidge. “A long-term relationship with a financial institution is important for our company’s growth strategy.”
Ledwidge Lumber is one of Nova Scotia’s oldest family-run sawmills, producing stud lumber for housing construction and specialty products. The company can produce up to 100 million board feet of lumber and value-added lumber products annually.
NSBI works with Nova Scotia companies to assist them in establishing long-term relationships with banks and other private sector lenders.
“NSBI works with Nova Scotia private sector lenders to assist companies in accessing the operating financing they require to grow their business,” said Mike Queripel, director of business financing, NSBI.
Source: Release