The Ministry of Small Business and Entrepreneurship provided funding to the Canadian Youth Business Foundation (CYBF) that will enable 282 students to receive loans to start up new businesses, generating 3,500 jobs and more than $50 million in gross revenues, according to CYBF estimates.

“The Province of Ontario has put a huge stake in the ground by partnering with CYBF to support and sustain new business start-ups through seed financing and mentoring,” said Vivian Prokop, CEO, Canadian Youth Business Foundation.

“They are demonstrating their commitment to our young aspiring entrepreneurs and making a very tangible difference to the Ontario economy and the dreams of our most important resource - our youth.”

• For more information about the Canadian Youth Business Foundation visit www.cybf.ca
• To read Minister Takhar's Statement to the Legislature regarding the CYBF announcement, click here.