Nova Scotia Business Inc. has authorized a C$1.5 million ($1.4 million) loan guarantee to assist Ledwidge Lumber in establishing a new private-sector line of credit.

Lumber

Ledwidge Lumber receives loan guarantee

Jul 31, 2014. /Lesprom Network/. Nova Scotia Business Inc. (NSBI) has authorized a C$1.5 million ($1.4 million) loan guarantee to assist Ledwidge Lumber in establishing a new private-sector line of credit, as the company said in the press release received by Lesprom Network. 

Douglas Ledwidge, president of Ledwidge Lumber, said they have grown their family business over 70 years. "Recently we've made our own investments in a new planer facility, an efficient and environmentally friendly dry kiln system that runs on wood shavings, and a new saw line," said Mr. Ledwidge. "A long-term relationship with a financial institution is important for our company's growth strategy."

Ledwidge Lumber is one of Nova Scotia's oldest family-run sawmills, producing stud lumber for housing construction and specialty products. The company can produce up to 100 million board feet of lumber and value-added lumber products annually.