The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Of government and golf courses: Mulroney’s East Coast experiment, 30 years later
– canadianbusiness.com
HALIFAX _ Ben Cowan-Dewar was a bright-eyed 25-year-old entrepreneur when he visited Inverness, N.S., and saw a jaw-dropping landscape fit for a luxury golf course.
Past the abandoned mines and hardscrabble edges of the Cape Breton village, he envisioned a boutique 18-hole course and upscale resort perched atop craggy cliffs.
“It was a magical day,” Cowan-Dewar said recalling his first impressions of the coastline. “There was a mile of ocean frontage that mirrored the great links courses of Scotland and Ireland.”
The trouble was money.
Finding capital is tricky for any entrepreneur. But banks are notoriously nervous about new ventures in rural regions _ even golf courses in picturesque locations destined to attract well-heeled golfers.
To help build Cabot Links, and later its sibling Cabot Cliffs, Cowan-Dewar’s company turned to private financial partners and taxpayer-backed assistance.
Cabot Links at Inverness LP cashed interest-free loans of $6.5 million from the Atlantic Canada Opportunities Agency (ACOA), while the government of Nova Scotia inked an $8…
Past the abandoned mines and hardscrabble edges of the Cape Breton village, he envisioned a boutique 18-hole course and upscale resort perched atop craggy cliffs.
“It was a magical day,” Cowan-Dewar said recalling his first impressions of the coastline. “There was a mile of ocean frontage that mirrored the great links courses of Scotland and Ireland.”
The trouble was money.
Finding capital is tricky for any entrepreneur. But banks are notoriously nervous about new ventures in rural regions _ even golf courses in picturesque locations destined to attract well-heeled golfers.
To help build Cabot Links, and later its sibling Cabot Cliffs, Cowan-Dewar’s company turned to private financial partners and taxpayer-backed assistance.
Cabot Links at Inverness LP cashed interest-free loans of $6.5 million from the Atlantic Canada Opportunities Agency (ACOA), while the government of Nova Scotia inked an $8…
