Quebec carpet maker gets $1M federal loan for new equipment
Korhani Manufacture Inc. plans to buy carpet loom, forklifts
SOREL-TRACY, Que.—Another Quebec firm has been granted a loan from the federal government, this time a $1-million contribution to a rug maker in the province.
According to Canada Economic Development, Korhani Manufacture Inc. of Sorel-Tracy, Que., was given the loan for the acquisition of a new textile machine and forklifts.
Korhani manufactures home rugs, which are sold directly to large retail chains.
The $1-million repayable contribution will be used to purchase tow motors and a carpet loom.
The loan, awarded through Canada Economic Development’s Quebec Economic Development Program, is aimed at boosting the southwestern Quebec firm’s productivity, according to the federal department.