The Parry Sound and Area Chamber of Commerce is in financial trouble. President Andrew Ryeland came to Seguin Council last night asking for $20,000 as a cash flow loan saying that without a bailout, the Chamber would have to shut down by the middle of July. Ryeland mentioned that one of the problems was $12,000 in accounts receivable which the organization will be addressing very soon.
Ryeland explains that the Chamber has plans to try and generate funds by hosting a six-part speaker series over the next year.
Council agreed to give $5,000 and Ryeland explains what that will do.
Seguin will review a report from CFO Michelle Fraser on the viability of the Chamber climbing out of debt and make a decision on July 20th whether to further help the Chamber get back on their feet.