A local business received a loan and representatives from the lending agency and the Town of Amherstburg joined the business owner to mark the occasion.
Hotel STRY is accepting bookings for guests with people able to stay at the Murray St. hotel starting Oct. 1. Before that, the project has to be finished and hotel ownership received a flexible macro loan from the Community Futures Development Corporation (CFDC).
Diane Malenfant, general manager with CFDC, called themselves “an unconventional lender” with projects decided by a board of directors. She said they felt the restoration of the building and its conversion into a hotel and commercial outlet fit what they look for.
The CFDC is federally funded and supports economic development in rural areas. The local office looks after Essex County, she said, adding they do not compete against banks.
According to a news release from the town, “this funding ensures a smooth transition to opening for business owner Lauri Brouyette.” “This financial support demonstrates the incredible potential of our local business community and the valuable role CFDC plays in supporting our entrepreneurs,” said deputy CAO/director of development services Melissa Osborne.
Hotel owner Lauri Brouyette believed the important message is that programs such as the ones through the CFDC are available to small businesses. She said business owners are often busy and don’t know what is available to them.
Brouyette said no matter how much planning goes into a project, there are often delays and added expenses.
Many people want to be self-employed but Brouyette said there is a lot that goes into it, adding agencies like the CFDC can help. She said they helped fortify the business plans to help the project advance.
In addition to the six hotel rooms on the second floor, there are three commercial outlets on the main floor.
“We designed this to be a commercial space,” said Brouyette. “We want people to gather.”
New hotel opening with aid of CFCD loan
By Ron Giofu
Comments