Interest-free federal loans to Saskatchewan businesses to create jobs
BikTrix Enterprises, a Saskatoon-based national e-bike company, is one of 11 companies receiving federal government funding through PrairiesCan to help grow and create well-paying jobs in that province. BikTrix will receive a $3.5 million interest-free loan to bring new hardware and software to market and to hire more staff.
CEO and Founder Roshan Thomas says BikTrix has the same challenges as many of them, trying to find people with the right skills. This funding means being able to offer competitive compensation to entice people to move to Saskatchewan, while preparing local employees.
The federal government announced nearly $26 million in interest-free loans for the 11 companies. PrairiesCan Minister Daniel Vandal says it is expected to create more than 500 jobs.
Coconut Software Corporation CEO and Founder Katherine Renier says that for a while the tech industry in Saskatchewan was a secret gem, but more and more companies are starting to realize the talent available, so they have to compete with the big tech companies when hiring staff and their $5 million in federal funding will help with that. Coconut Software Corporation is a Saskatoon-based company that offers appointment scheduling software for financial institutions.
Biktrix Enterprises Inc. – $3,500,000
Northern Nutrients Ltd – $3,855,620
Kasiel Solutions Inc. (operating as SolusGuard and ORA) – $252,500
Northern Quinoa Production Corporation (trading as Norquin) – $276,480
Community Compliance Management Technologies Inc. (operating as MyComply) – $948,500
101265496 Saskatchewan Ltd. (operating as Mother Labs) – $1,799,933
Canadian Plasma Resources Corporation and Plasma SK Regina Inc. – $500,000
C-Merak Industries Inc., C-Merak Grain Ltd., C-Merak Foods Ltd., Cas-Per Farms Inc., King’s Lake Farms Ltd. – $2,000,000
Coconut Software Corporation – $5,000,000
102119034 SK Ltd, 102050303 SK Ltd, 624533 BC Ltd, 671392 BC Ltd (trading as Donald’s Fine Foods) – $5,000,000
LyteHorse Labs Inc. – $2,800,000