Michelin Development Fund Announces Partners

Michelin development announces new partners

Michelin Development Nova Scotia has announced its new banking and community business partners.

John Tully, president of Michelin Development, is shown with a client in South Carolina, Boyd Johnson, who started up a custom bicycle wheel company with a $50,000 loan, and is doing very well. In addition, in the photo, is Michelin retiree, Stan Pech, who helped Boyd Wheels with logistics within the international marketplace. The retiree used to work in logistics for Michelin. SUBMITTED

“We are very excited to have Bergengren and the CBDCs on board to help us foster and encourage economic growth in these communities,” said John Tully, President, Michelin Development North America.

“With our $2 million program investment from Michelin, $2 million from CBDC NOBL and CBDC Guysborough, and $2 million from Bergengren, we will use this $6 million in funds to help keep these communities viable and vibrant. With our new website michelindevelopment.ca and this partnership now established, we are officially open for business. We want to put jobs back in this community.”

Michelin Development announced that they would be helping to create jobs in the county after Michelin announced cuts at the Granton plant in March.

This partnership will allow for greater loan opportunities for small businesses up to $300,000, a release stated. This program is open to all start-up and existing small business sectors in Colchester, Pictou, Antigonish and Guysborough counties. Michelin Development will meet with interested clients, receive and assess all applications before submitting applications to the NOBL review committee. If an application is successful, it will be forwarded to Bergengren Credit Union for final review and then an application is accepted.

“Bergengren is excited and proud to be participating with Michelin Development and the CBDCs to seek new business opportunities within the communities we all serve. We are very optimistic this program will develop long term sustainable employment within our region,” said Bergengren Credit Union CEO Dan Hodgins.

Along with business loans, the partnership also provides business expertise to small business.

“We are ecstatic to be able to go to our small business community with this new partnership,” said Ron O’Brien, Executive Director of CBDC NOBL.  “Both Bergengren and Michelin bring a sensitivity to community to this effort, something that is usually found in CBDCs alone.  Michelin’s corporate social responsibility is a key factor in making this all happen.”

Those interested in submitting a business proposal to Michelin Development are invited to visit michelindevelopment.ca for more information, or contact John Tully, President, Michelin Development at 902-753-1156 or john.tully@ca.michelin.com

“We already have a number of applications submitted online, and we will be working through these applications in the coming weeks. I’m sure this number will grow in volume as we get the word out in these great communities,” added Tully.