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About Canadian Funding Corp
Offering Competitive Loan Rates
Canadian Funding Corp uses private funds to give the clients the most competitive loan rates. Because of this source of funding, Canadian Funding Corp can successfully offer bridge loans, new construction loans, renovation loans, and mixed-use loans to its clients. Canadian Funding Corp's lenders agree to a client's project before building goes underway, ensuring an open relationship between borrowers and lenders. As the leading alternative lending group, Canadian Funding Corp has achieved success in the Toronto area, around Canada, and beyond the country.
Charity Contributions
As Canadian Funding Corp remains dedicated to the loan services it provides, it also looks for additional ways to assist in the community. Canadian Funding Corp gives to several non-profit organizations without fanfare or media attention because it makes donations anonymously. Because these gifts cannot be tracked, Canadian Funding Corp can assist more often. Canadian Funding Corp provides daily necessities to disadvantaged families in the community, including food, clothing, and water. In the long-run, Canadian Funding Corp looks to end the cycle of family homelessness by sending checks to charities that provide job placement, housing, and medical care. Canadian Funding Corp believes that if the community improves, business can too.
Canadian Funding Corp Reports: Affordable Housing in New Brunswick Gets a $99-Million Boost
FREDERICTON, May 29, 2009 - Canadian Funding Corp. reports that the Government of Canada and the Province of New Brunswick are partnering on a joint investment worth $99 million to build new and renovate existing affordable housing. This investment will help create jobs, strengthen the economy, and improve the quality of life for residents of New Brunswick.
Both levels of government officially signed an amendment to the Canada - New Brunswick Affordable Housing Program Agreement and an extension of the Housing Renovation Program Agreement. Overall, the federal contribution is $53 million, while the province is contributing a further $46 million.
The Honourable Greg Thompson, Minister of Veteran Affairs, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), joined the Honourable Mary Schryer, Social Development Minister for New Brunswick and Minister Responsible for Housing, at a signing ceremony today. The Honourable Shawn Graham, Premier of New Brunswick, also attended.
"Our government is working hard to support Canadians during these challenging economic times, and we have moved aggressively to ensure our Economic Action Plan is implemented rapidly," said Minister Thompson. "We are helping our most vulnerable Canadians, including seniors and persons with disabilities, to access suitable, affordable housing, as well as making needed renovations to existing social housing both in New Brunswick and across Canada."
"Improved access to safe, secure and affordable housing will help us achieve self-sufficiency in our province, while also helping our economy by stimulating record affordable housing developments over the next two years," said Minister Schryer. "It is estimated that every $1 million invested in housing generates economic spin-offs worth $2.5 million."
Today's announcement includes federal funding of $37.3 million over two years under Canada's Economic Action Plan as part of a one-time investment of more than $2 billion to build new and renovate existing social housing in Canada. The province will also contribute $37.3 million for these initiatives.
These investments build upon the $1.9 billion commitment for housing and homelessness programs announced by the Government of Canada in September 2008, which extended the Affordable Housing Initiative (AHI) and the renovation programs for low-income households for two years. Today's announcement includes a further combined investment of $24 million by both levels of government for the two-year extensions to build new affordable housing and assist low-income households with needed renovations to their homes.
"Our government is committed to the creation of more affordable housing for those in need," said Premier Graham. "This agreement will provide for the creation of more than 500 new homes, while a further $39 million will be invested in repairs and upgrades to existing social housing infrastructure."
The announcement was held at Luther Place Apartments, a new 45-unit affordable housing project for seniors and individuals that celebrated its official opening today.
Located at 1039 Regent Street, the project received a total of $550,000 in federal funding under the Canada - New Brunswick Affordable Housing Initiative and $690,000 from the Housing Trust Fund, for a total of $1.24 million to off-set construction costs, as well as approximately $3 million in rent supplement assistance from the Province of New Brunswick for 45 units.
"I am very pleased that the federal government and New Brunswick are partnering to provide much needed funding for affordable housing in our communities," said Ron Steeves, President of the New Brunswick Non-Profit Housing Association. "These investments will help lower-income people, seniors and families, access affordable housing in New Brunswick."
CMHC has been Canada's national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.
Canadian Funding Corp Links
Canadian Funding Corp. Housing Updates Blog
Canadian Funding Corporation Reviews Housing Updates from CMHC Reports