“Community Futures lent on the strength of the project, the proponents and the security”
Taste of BC Aquafarms
Taste of BC Aquafarms was one of the first land based recirculating aquaculture systems in the world to grow salmon on land to market size for food consumption. Steve and Janet Atkinson, owners of Taste of BC Aquafarms took up the challenge for the development of the model farm in BC Their goal was to transform their low tech, low producing, trout and sturgeon farm into an efficient state‐of‐ the‐art commercially viable production aquafarm. In 2012, they assembled a broad based team of stakeholders and partners increase the funding needed.
“Community Futures financing has been an important part of this venture,” notes Atkinson. This venture simply did not fall into the scope of conventional financing. The Atkinson’s found themselves with a great business plan, a large government grant ($450,000) and lots of equity in several properties yet banks and other financial institutions would not lend due to the unproven nature of the business. “Community Futures lent on the strength of the project, the proponents and the security”, notes Atkinson.