News http://www.lianaishouce.cn/news.html? News CRDC Assists in the Financing Purchase of 225-acres of Real Estate in Chichester http://www.lianaishouce.cn/news.html?news_id=165&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Finding their way back to New Hampshire after a career in Boston, Massachusetts, David and Toutou Marsden knew they didn鈥檛 want to go back to the corporate world. Instead, the couple journeyed into the hospitality industry; buying Dell-Lea, a wedding and special event business located in rural, Chichester, New Hampshire. The business located on 225 acres of what was once a working farm; is now one of New Hampshire鈥檚 premier full-service wedding venues accommodating more than 200 guests at one time. 鈥淎fter leaving Boston we took some time off and traveled abroad for a few years. Upon our return we needed jobs,鈥?said David Marsden, owner & operator Dell-Lea. 鈥淲e knew we wanted to own our own seasonal business; we just didn鈥檛 know what kind of business.鈥? In 2016, through a commercial real estate broker, the Marsden鈥檚 found Dell-Lea. Within 30 minutes of touring the business they made an offer. 鈥淲e initially purchased the business and leased the property with the option to buy,鈥?added David. 鈥淲ith the success we were having it made sense to obtain the real estate. After a year of negotiating we closed on the property in the Spring of 2020- although we probably wouldn鈥檛 have been able to do it without gap financing assistance provided by CRDC.鈥? 鈥淲e worked closely with the Marsden鈥檚 and Merrimack County Savings Bank to create a loan package that included financing for the purchase of the property and included flexibility for capital improvements,鈥?said Jennifer Boulanger, CRDC Loan Officer. 鈥淒ell-Lea鈥檚 reputation in the industry is outstanding and although 2020 wasn鈥檛 the year David or Toutou expected, they perserved and are ready and are well positioned for a great 2021 season.鈥? 鈥淐ommunication is everything,鈥?said David. 鈥淲e have been very proactive and transparent with our clients. We found that to be the same with CRDC and Merrimack County Savings Bank. It was clear they worked together. It was a seamless closing for us.鈥? For more information about Dell-Lea visit their website at https://www.dell-lea.com/. en-us $date CRDC Finances Specialty Food Store with 40-year history in Manchester http://www.lianaishouce.cn/news.html?news_id=164&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 鈥淣obody knows about this store except for the people that know about it,鈥?Steve Freeman, new owner of Angela鈥檚 Pasta and Cheese Shop recently said about the specialty food store that he recently purchased. Angela鈥檚 Pasta and Cheese Shop has been in business for four decades on the corner of Chestnut Street in Manchester. The specialty food store offers a wide selection of imported Italian foods, wines from Italy and California, a diverse cheese bar, Italian deli meats, fresh pasta-cut to order, fresh and frozen meals and an impressive display of gift baskets. 鈥淎s its third owner, Steve recently purchased both the business and real estate,鈥?said Jennifer Boulanger, CRDC Loan Officer. 鈥淪teve knew seven years ago that he wanted to purchase the business; but timing is everything when it comes to purchasing, and selling a business.鈥? CRDC facilitated the purchase and sale of both the property and the business with Primary Bank. 鈥淚n 2018, I approached the previous owner as a customer and told him that I wanted to buy the business, but I don鈥檛 think he thought I was serious,鈥?added Steve. 鈥淎 year went by and I didn鈥檛 hear anything, but that year made a difference for me financially. Jennifer is right, timing is everything, and instead of just owning the business, I now own the property too.鈥? 鈥淪teve comes into this purchase with chef, catering and business management experience,鈥?added Jennifer. 鈥淚n addition to the retail side of the business; Steve is knowledgeable the culinary aspect too.鈥? 鈥淲e have no intentions of changing any of the long-standing customer favorite recipes and menu items; but we are enhancing the offerings with ready made deli sandwiches and pop-up catering services which have both been a success since we rolled these out,鈥?said Steve. 鈥淚 also believe in supporting other local businesses. When you visit us, you will still experience the same diverse display of cheeses, wines, pasta; and outstanding customer experience, but you鈥檒l see newly sourced, locally produced products. Something I鈥檓 very proud about is supporting local businesses especially today; its extremely important to me. On select days you鈥檒l also still see Angela, the original owner, behind the counter too.鈥? Visit online at: http://angelaspastaandcheese.com Photo Caption: Steve Freeman, owner of Angela's Pasta & Cheese Shop and Jennifer Boulanger, CRDC Loan Officer sit outside Angela's Pasta. Steve added outdoor seating to the neighborhood specialty store's offerings. 聽 en-us $date CRDC Closed and Funded Loans for Fiscal Year Ending September 30, 2020 http://www.lianaishouce.cn/news.html?news_id=163&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC collaborates with multiple banks to facilitate the lending process for New Hampshire companies looking to expand their business through the purchase of real estate, new equipment or a new business. CRDC's Loan Committee approved a total of 29 loans to small businesses borrowers totaling $8.1 million of which a total of 28 loans were funded from all CRDC loan programs totaling $5,587,235. We thank our lending partners for our tremendous success. CRDC worked with 8 different banks in 12 distinct communities. The following are examples of the work we accomplished in Fiscal Year 2020: en-us $date Apply Now: Main Street Relief Fund 2.0 http://www.lianaishouce.cn/news.html?news_id=161&module_params[name]=news&module_params[mode]=default&module_params[action]=detail October 19, 2020 Contact: Alex Fries Info@goferr.nh.gov Concord, NH 鈥?Following Governor Chris Sununu鈥檚 announcement last week that $100 million of the state鈥檚 CARES Act Coronavirus Relief Funds would be allocated to a second round of the Main Street Relief Fund, the application period for Main Street Relief Fund 2.0 (MSRF 2.0) opened for new and returning applicants this morning. The application is available on the GOFERR grants management portal until 4:00 PM on October 30, 2020. MSRF 2.0 provides continued economic support to New Hampshire small businesses suffering from business interruptions as a result of COVID-19. Specifically, it supports both (1) new applicants, businesses that did not receive grants from the initial round of MSRF or the General Assistance & Preservation (GAP) Fund, and (2) returning applicants, businesses that received grants of less than the maximum $350,000 from the initial round of MSRF or the GAP Fund. Eligibility is similarly defined as under the initial round of the Main Street Relief Fund; those with questions are encouraged to consult the eligibility criteria available at www.goferr.nh.gov/mainstreet. New Hampshire small businesses seeking assistance are encouraged to contact GOFERR utilizing the inquiry portal or contact the Main Street Relief Fund 2.0 call center by calling (603) 271-7840. The call center is provided, in part, thanks to a partnership with the Department of Business and Economic Affairs. en-us $date CRDC Finances Purchase of Bedford鈥檚 Purple Finch Caf茅 http://www.lianaishouce.cn/news.html?news_id=162&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Purple Finch Caf茅, a well known breakfast and lunch restaurant in Bedford is now under new ownership with financing assistance from CRDC. Nicole Leavitt, the Caf茅鈥檚 Head Chef and General Manager for four years, along with business partner; Samantha Courtois purchased the Bedford eatery from founding owners, Jeffrey and Julie Marshall. Nicole, a talented chef teamed up with Samantha, an entrepreneur and small business owner to resume operations after the restaurant was temporarily closed due to the COVID pandemic. The Covid related closure happened in Mid-March 2020 and the restaurant reopened with Nicole and Samantha as its new owners on August 1, just three days after financing closed on the purchase of the business. 鈥淐RDC really helped us navigate through our financing options especially during very uncertain times associated with the pandemic,鈥?said Nicole Leavitt, new owner, Purple Finch Caf茅. 鈥淲e saw a lot of small businesses struggle through the summer months of the pandemic; but Nicole and Samantha persevered to reopen the restaurant and hire back their staff while adding outdoor dining to its offering," said Jennifer Boulanger, CRDC Loan Officer. 鈥淪mall business is my passion,鈥?said Samantha Courtois, new owner of Purple Finch Caf茅, who also owns and manages a Manchester-based hair salon. 鈥淚 have the business operations expertise and Nicole has the kitchen & menu knowledge. She has the passion for food, how its prepared, presented and delivered. She has a lot of amazing ideas that we have implemented even under new COVID guidelines.鈥? 鈥淚 have a fine dining background, but breakfast is the hardest job I鈥檝e ever done,鈥?said Nicole. 鈥淲e make everything from scratch, we have implemented a new pick-up menu and redesigned our catering business to also include special events here at the restaurant. We can host private events; all within the new COVID guidelines of course. We are happy to offer a small, boutique environment for our customers looking for an intimate event setting.鈥? 鈥淭he restaurant鈥檚 loyal customers have returned; and that has a lot to do with Nicole鈥檚 love for cooking and her fast paced techniques to serve delicious meals,鈥?added Samantha. Visit the Purple Finch Caf茅, located in Woodbury Commons, 124 South River Road Bedford, NH. Photo Caption: (Front L-R) Nicole Leavitt and Samantha Courtois, new owners of the Purple Finch Cafe' with Jennifer Boulanger, CRDC Loan Officer (back). en-us $date CRDC Helps Ease Burden of COVID-19 affects on NH Businesses http://www.lianaishouce.cn/news.html?news_id=160&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC has been working hard to help our customers ease the affects of Covid-19 on their business. CRDC Executive Director had an opportunity to discuss this with New Hampshire Business Review. NH鈥檚 regional development corporations work to ease burden on Covid-hit businesses But agencies are in 鈥榟olding pattern鈥?as economy slowly awakens June 2, 2020 Michael Kitch 鈥淩ight now we鈥檙e in a holding pattern,鈥?said Stephen Heavener, executive vice president of the Concord-based Capital Regional Development Council, the largest of the New Hampshire鈥檚 10 regional economic corporations, which together serve all of the municipalities in the state. As lenders to small business, the regional economic corporations, or RDCs, have provided immediate relief to their borrowers by deferring payments of principal and interest for between three and six months while foregoing the interest income that funds their own operations. Meanwhile, as the economy slowly awakens, RDCs, like all lenders, brace for the prospect that, while some borrowers may fail and default, shrinking their capacity to lend, other businesses will need credit to resume and expand operations. The RDCs were established in the 1990s, when credit for small businesses tightened following the collapse of the property market and failure of the state鈥檚 largest banks. RDCs are nonprofit corporations that partner with government agencies, financial institutions and civic organizations to provide credit options and technical assistance to small businesses. Their operations are funded by interest income from their loan portfolios. RDCs partner with the U.S. Small Business Administration in the 504 Loan Program, which provides a long-term, fixed rate loan of up to $200,000 representing no more 40% of a financing package that generally includes a bank loan, 10% equity interest, and sometimes other investments. RDCs provide the loan that bridges the gap between the equity interest and the debt finance provided by banks and other investors to complete funding packages. RDCs may contribute as little as 10% and as much as 50% of a total financing or as much as 75% of loans of less than $75,000. Heavener said that RDCs often provide the essential piece that completes a financing. 鈥淲e don鈥檛 drive the train,鈥?he said, 鈥渂ut we get it rolling.鈥? Jac Cuddy, executive director of the Mount Washington Valley Economic Council (MWVEC), said that to some extent the RDCs are 鈥渓enders of last resort,鈥?with relatively high-risk portfolios and, as partners with banks, are always subordinate to them. Some RDCs partner with the U.S. Department of Agriculture Rural Development in its 鈥淚ntermediary Relending Program,鈥?by borrowing as much as $2 million for the first and $1 million for subsequent financings up to a limit of $15 million, at 1% with a 30-year term with interest-only payments for the first three years. The RDC lends the funds at a higher rate, in amounts up to $250,000 or 75% of the cost of the borrower鈥檚 project, whichever is lower, though most loans are $200,000 or less. Loans can be applied to a variety of purposes, including acquiring land, constructing buildings, purchasing machinery and working capital. Deferred payments When Gov. Chris Sununu ordered the closure of 鈥渘on-essential鈥?businesses in March, the RDCs acted promptly to ease the pressure on their borrowers. With a $10 million loan portfolio and some 80 borrowers, Heavener said the CRDC has deferred payments for about half its borrowers for six months and projected a loss of interest income of about $100,000. 鈥淚t happened overnight,鈥?said Daniel Gray, managing director of the Coastal Economic Development Corp., which is based in Hampton. 鈥淲e put a 90-day hold on principal and interest payments through June. Businesses didn鈥檛 even have to ask.鈥? With about 60 borrowers divided among three loan pools totaling more than $4 million, he estimated the shortfall of interest income at near $60,000. 鈥淚t isn鈥檛 about us,鈥?Gray said. 鈥淲e can manage.鈥? Laurel Adams, president of the Raymond-based Regional Economic Development Center, which reaches 31 municipalities in Rockingham and Hillsborough counties, has granted deferments to a third of the borrowers in its $10 million portfolio. She said the agency was providing disaster loans as well as distributing grants received from Community Development Finance Authority. At the same time, Adams stressed that the REDC has mounted a major effort to provide technical assistance to its borrowers to prepare them to 鈥減ivot as the economy recovers.鈥? Adams said the REDC established the New American Loan Fund, the only statewide program for foreign-born immigrant business owners, which has a portfolio of 25 loans. And she said she expects to receive funding from the U.S. Economic Development Administration to staff a disaster response initiative for both businesses and municipalities. 鈥淲e granted blanket deferments in March through June,鈥?said Justin Slattery, executive director of the Belknap Economic Development Council in Laconia. 鈥淲ith a portfolio of less than $1 million, it鈥檚 costing us $4,500 a month,鈥?he said, stressing that 鈥渨e鈥檝e been working very closely with our borrowers and have lending capacity to help with the recovery.鈥? Anne Duncan Cooley, CEO of the Plymouth-based Grafton Regional Development Corp. said that while deferring payments for some borrowers, mostly in the hospitality and lodging sector, her agency has also turned to providing businesses with technical assistance. 鈥淲e have two business incubators,鈥?she said, and have been working to get businesses on-line and preparing them for the recovery.鈥? 鈥淲e deferred payments for three months,鈥?said Denise Roy-Palmer, executive director of the Wentworth Economic Development Corp. in Wolfeboro, adding 鈥渁t first we thought of going case-by-case, but decided to go across the board, though it has interrupted our revenue stream.鈥? Lise Howson, executive director of the Coos Economic Development Corp., which manages a portfolio of less than $1 million, said a fifth of borrowers have been granted deferments for six months. Apart from deferred payments, Howson said the Lancaster-based agency had six loans in the pipeline before the shutdown, but two restaurants withdrew their applications, reducing loan volume, and with it interest income. 鈥楨xistential risk鈥? In the meantime, RDCs have begun to look to their role in economic recovery. Cuddy said that apart from deferring payments for at least three months, the MWVEC took a second proactive step. He explained that travel and tourism drive the economy of the valley and the virus struck during the 鈥渟houlder season,鈥?when economic activity is slowest. In anticipation of summer, the strongest of the seasons, he said that in just two weeks the MWVEC participated in 27 loans, with an aggregate value of $580,000.The 鈥淐OVID-19 Express Loans鈥?of $25,000 with no interest for three months and interest only for three months have over a five-year term. 鈥淚t took us to the extreme end of our capacity,鈥?he said. 鈥淚t鈥檚 all out.鈥? 鈥淚 definitely don鈥檛 want to sound arrogant,鈥?said the REDC鈥檚 Adams said, 鈥渂ut we made it through the last recession, and with continued support from out partners I believe we will make it through this one.鈥?She said REDC has $5 million in additional lending capacity and is 鈥渨ell positioned to meet the need for capital as businesses ramp up.鈥? But Heavener pointed to what he called 鈥渁n existential risk鈥?facing some RDCs, his own among them. He said 鈥渨e can mange the loss of interest income. But when the deferments expire, and if a quarter or a third of borrowers fail then I鈥檝e got a real problem.鈥? As an intermediary re-lender with the USDA, he explained that of the 27 loans in deferment, with an aggregate value of $4.5 million, some $3 million is backed by funds borrowed from the USDA. 鈥淚f those borrowers default,鈥?he said, 鈥淚鈥檓 on the hook. I have to pay back the USDA.鈥? Other RDCs in the state, including CoastalEDC, CoosEDC, WEDCO, GRDC, and REDC, are also intermediary re-lenders with USDA. Howson said the CoosEDC could be liable for $150,000 in the event of defaults, but others said that USDA funding represented a relatively small share of their portfolios. Stressing the resiliency of New Hampshire鈥檚 small businesses, Gray expressed concern about the availably of funds to fuel a recovery. 鈥淭he SBA has provided easy money,鈥?he said, 鈥渂ut what happens when the money runs out?鈥?He anticipated strong demand for credit as the economy begins to expand and said 鈥渢he challenge will be to get access to money.鈥? Gray said at CEDC 鈥渕oney is getting low and the return of money to re-lend has slowed. We have the will, the interest. The question is whether we have the money. We could easily lend $3 million in the second half of the year, but where am I going to get the money to do it?鈥? With one exception the RDCs are all 501(c)(3) nonprofit organizations and eligible for the $60 million the Governor鈥檚 Office of Emergency Relief and Recovery has allocated for nonprofits. Heavener said that while funding could be used to offset losses in operating revenue, he felt that priority in distributing the money should be given organizations providing human services for vulnerable populations. Carmen Lorentz, who headed the BEDC and then the state鈥檚 Division of Economic Development before becoming executive director of Lakes Region Community Developers, said that when the recession overtook the economy in the 1990s, 鈥渓ocal economic development agencies were thin on the ground.鈥?Since then, she said, the RDCs have played an important role in reviving and sustaining the economies of communities throughout the state. We can鈥檛 afford to lose what little capacity for local economic development we have,鈥?said Lorentz. CATEGORIES: BANKING, NEWS 路 en-us $date The CARES Act - Relief for SBA Borrowers http://www.lianaishouce.cn/news.html?news_id=159&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion economic stimulus bill aimed at providing relief for individuals and small businesses went into effect, and with it came relief for SBA borrowers. What does this mean for SBA customers? Debt Relief for Existing and New SBA Borrowers ($17 billion): Under this provision the SBA will cover all loan payments for existing SBA borrowers (including principal, interest and fees) for six months. This will happen automatically and does not require any application. While SBA borrowers are receiving this relief they may still apply for a Paycheck Protection Program loan that provides capital to keep their employees on the job. Below are two clickable documents provided by the SBA that provides Small Businesses with an Overview of the CARES Act along with Frequently Asked Questions. Small Business Overview of the CARES Act CARES Act FAQ en-us $date CRDC Provides Gap Financing to Retail Startup http://www.lianaishouce.cn/news.html?news_id=158&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Growing a business from the ground up is exactly what a local entrepreneur did with the start-up of a retail, lawn, garden and pet supply store.CRDC recently provided traditional gap financing to help assist Jessica Michie with the purchase of land and an existing building at 2600 State Route 103 in Bradford. 鈥淭he 4,000 sf industrial building on the five acres of land was vacant and needed work, but Jessica saw the potential to utilize the land and the building to operate her new business, 5 Acres Lawn, Garden & Pet,鈥?said Jennifer Boulanger, CRDC Loan Officer. With her vision and the construction assistance of Matt, her husband/business partner, they completed the renovations and opened in time for the 2019 holiday season. 鈥淲e have had amazing support from the community,鈥?said Jessica Michie, owner of 5 Acres Lawn, Garden & Pet. 鈥淣ow that the inside retail space is completed, in the Spring we will turn our focus to outside with the construction of a greenhouse where we will offer annuals, perennials, vegetables, fruit trees and shrubs.鈥? 鈥淭his will be a year-round business for Jessica and Matt,鈥?added Jennifer. 鈥淛essica has more than 15 years of professional experience in the retail garden industry and was recognized as a top performer in the Northeast by Agway. In addition to redeveloping a vacant building, she has brought additional jobs to the area. We were pleased to work with Sugar River Bank to help successfully provide gap financing to complete the loan.鈥? 鈥淲e are thankful to CRDC who worked closely with the bank to create a loan package that we felt very comfortable with,鈥?said Jessica. Photo Caption: Jessica Michie, Owner, 5 Acres Lawn, Garden & Pet with Jennifer Boulanger, CRDC Loan Officer en-us $date CRDC Welcomes New Board Members http://www.lianaishouce.cn/news.html?news_id=157&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to welcome Joe Bator, Executive Vice President & Senior Lender, Primary Bank and Dave Peterson, Senior Vice President & Commercial Loan Officer, Camden National Bank to our Board of Directors. "Joe and Dave both have extensive banking experience and are dedicated to building a strong economy in New Hampshire," said Stephen Heavener, CRDC Executive Director. "Our Board of Directors play a vital role in supporting small businesses and economic development projects in the communities CRDC serves. We welcome both Joe and Dave to this dynamic Board of Directors who will help continue our mission of enhancing job creation, and local property tax base enhancement through small business lending and economic development projects." Joe serves as Executive Vice President and Senior Lender at Primary Bank and is a member of the Bank's senior management team. In this role, Joe is responsible for overseeing the Bank's commercial lending team. Previously, he was a senior vice president and director of Business Banking at Eastern Bank, where he oversaw the bank's portfolio of business clients with revenue up to $10 million and or lending needs up to $3 million. Additionally, he oversaw the bank's SBA program. Dave serves as Senior Vice President, Commercial Banking Officer at Camden National Bank. Dave is responsible for commercial business development in New Hampshire and the northern region of Massachusetts. With over 34 years of banking experience, Dave specializes in providing financing and cash management solutions for commercial and industrial businesses. "We also thank Bill Norton, from Norton Asset Management and Will Stewart, of Stay Work Play NH for their dedicated service on our Board of Directors," added Stephen. "They worked hard to enhance CRDC's reach within the communities and broaden our name recognition within the local commercial development industry and the next generation of small business owners." CRDC's loan portfolio is comprised of SBA 504 loans, CRDC Direct-funded loans and mission appropriate real estate development investments. Dave Peterson, Camden National Bank Joe Bator, Primary Bank en-us $date CRDC Closed and Funded Loans for Fiscal Year 2019 http://www.lianaishouce.cn/news.html?news_id=156&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 CRDC collaborates with multiple banks to facilitate the lending process for New Hampshire companies looking to expand their business through the purchase of real estate, new equipment or a new business. CRDC's Loan Committee approved a total of 32 loans to small businesses borrowers totaling $6.5 million of which a total of 25 loans were funded from all CRDC loan programs totaling $3,286,350. We thank our lending partners for our tremendous success. CRDC worked with 11 different banks in 16 distinct communities. The following are examples of the work we accomplished in Fiscal Year 2019: en-us $date Union Leader: Manchester Music Mill expands into second building http://www.lianaishouce.cn/news.html?news_id=155&module_params[name]=news&module_params[mode]=default&module_params[action]=detail https://www.unionleader.com/news/business/manchester-music-mill-expands-into-second-building/article_42a3214c-ff52-5011-8e17-19fa466f2bbb.html By Jonathan Phelps New Hampshire Union Leader Oct 27, 2019 MANCHESTER 鈥?Over the past year, the Manchester Music Mill added more space to meet customer demand. Owners Joe and Dawn Lacerda bought a 20,000-square-foot commercial building behind the 329 Elm St. store. The new space allows for warehouse space, an outlet store for aging inventory and a performance space for customers to demo sound systems. It took more than a year to renovate the two-story brick building built in 1910. The building sold for $360,000 in May 2018, according to city records. The building previously housed PHD Communications. The project included $250,000 in renovations into the property including new doors, windows and an elevator. 鈥淵ou never know what you are going to find,鈥?said Joe Lacerda of the outlet store. 鈥淭his is aging inventory that we marked down to give good deals to local customers,鈥?he said. 鈥淚t has been great for us because we鈥檝e been growing and growing, and things get lost in the mix in one space.鈥? The outlet store allows for the latest product to have priority in the main store. About 40 percent of $610,000 investment came through a 20-year fixed U.S. Small Business Administration (SBA) loan supported by the Capital Regional Development Council (CRDC), a nonprofit development corporation that provides a variety of economic development services to businesses and local governments throughout New Hampshire. Camden National Bank helped finance 50 percent of the project. The building is now appraised at $800,000, according to the couple. 鈥淲e didn鈥檛 realize it would increase that much,鈥?Dawn Lacerda said. 鈥淭his was considered attic space because there was no heat, the windows didn鈥檛 work, there was no insulation and no lighting. It was barebones.鈥? The store, which opened in 2005, had two previous locations before buying and moving its current location in 2013, also with the support of CRDC. The store includes 12 soundproof rooms designed for lessons, plus space for The Music Techs, an instrument repair shop owned by Dawn. The remaining 9,000-square-feet is occupied by the Van Otis Chocolates. Stephen Heavener, CRDC executive director, had been a customer at the store before helping with the loans. 鈥淭hey鈥檝e adapted to the market. They are not just a retail guitar store,鈥?he said. 鈥淭hey rent out space for music lessons and decided to take advantage of the outlet business.鈥? The business is part of a growing commercial part of the city across from the Market Basket. Manchester Music Mill previously rented warehouse space on East Industrial Drive for its inventory, which required employees to drive to fill orders. The tiny backroom of the main store had been used to hold inventory, storage, receiving packages and shipping. 鈥淚t is hard to believe how much we had shoved in here,鈥?Dawn Lacerda said. The second floor will include a stage for in-house performances, clinics and sound systems demonstrations for churches, restaurants and bands. It is set to open early next year.Phil Daniele of Auburn shops for guitar strings at Manchester Music Mill on Elm Street in Manchester on Friday. The music store is expanding. 鈥淲e enjoy being able to spread out a little more because there was a lot of constraints in the 11,000 square feet,鈥?Joe Lacerda said. 鈥淲e basically doubled our space, and we don鈥檛 have more inventory, so our customers can see everything.鈥? Business grew 25 percent since the Guitar Center opened on South Willow Street about a year and a half ago, they said. 鈥淲e make sure nobody is going to compete with us,鈥?Joe Lacerda said. 鈥淭here is not an opportunity for us to lose a sale with what we do.鈥? Manchester Music Mill brings in about $10 million in sales each year. 鈥淣ext year will be a growth year,鈥?Joe Lacerda said. Photo Caption: Juan Coronado of Manchester plays a ukulele at the Manchester Music Mill on Elm Street on Friday. The music store is expanding. en-us $date CRDC Assists Manchester Business with Expansion http://www.lianaishouce.cn/news.html?news_id=154&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Over the last decade, Manchester Music Mill owner Joe Lacerda has continued to expand his full service retail music store. In 2013, CRDC helped Joe finance the purchase of a 20,000 square foot building he was leasing from the owners of Van Otis Chocolates on Elm Street in Manchester. Joe created an amazing layout for the Manchester Music Mill turning 11,000 sq. ft. into a retail store as well as including 12 sound proof rooms designed for lessons, plus space for The Music Techs, an instrument repair shop owned and operated by his wife, Dawn. The remaining 9,000 feet of space continues to be occupied by the Van Otis store, a lease now managed by Joe. Fast forward five years, and Joe is expanding yet again with the purchase of another building, this one located directly behind the current Manchester Music Mill location. "We needed more physical space to warehouse our growing inventory, an outlet for aging inventory as well as space that will allow us also to meet the needs of our expanding sales in sound systems," said Joe Lacerda. "Our regional customers will be able to come in and test out the sound system products before purchasing them. We will have this space set up for bands or owners of recording studios, and any other venues looking to purchase sound systems." "The new building gives Joe another 20,000 sq. ft. to expand," said Jennifer Boulanger, CRDC Loan Officer. "It's evident Joe and the Manchester Music Mill name have a great reputation. The company continues to grow and this expansion will help Joe manage inventory through a retail outlet. Together, CRDC and Camden National Bank teamed up to provide a financing package that included SBA 504 financing for the purchase and renovation of the building." "We had a great experience with CRDC during the purchase of our first building that we knew CRDC and Jennifer Boulanger had to be part of this purchase as well," added Joe. "CRDC and Camden National Bank worked together to secure the financing that worked for us and we are pleased with the support and guidance they both provided." Visit Manchester Music Mill's store by visiting www.manchestermusicmill.com or visit The Music Techs online at www.themusictechs.com. Dave Peterson, SVP Commercial Loan Officer, Camden National Bank and Jennifer Boulanger, CRDC Loan Officer with Manchester Music Mill Owners, Dawn and Joe Lacerda 聽 en-us $date CRDC Helps Local Hardware Store Stay Local http://www.lianaishouce.cn/news.html?news_id=153&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC recently helped a local Penacook resident and successful business keep a local hardware store - local. "I grew up in Penacook, and still live there today," said Ana McKenna. "One day I was wondering what was happening with the local hardware store...and then said to myself, I should buy that." Sitting across the street from Fox Ace Hardware in a local coffee shop on Main Street in Penacook, Ana thought the building that housed the hardware store was a great piece of real estate to own. "I knew people in the area wanted to keep it a hardware store, and there's still a lot of potential to downtown Penacook so I said, why not." Ana is already a successful business owner in Concord having started McKenna Dance Center thirteen years ago. "I first reached out to CRDC through the SBA Lender Match because I really appreciated their mission of helping to revitalize communities," said Ana. "Merrimack County Savings Bank was pulled in because the previous owner, who had since passed had an existing mortgage with the Bank. It was great that CRDC and the Bank already had an existing working relationship. Both Jennifer from CRDC and Ryan from the Bank, oh my gosh, they were absolutely incredible to work with." "It was important to Ana to purchase the building and keep it a local hardware store," said Jennifer Boulanger, CRDC Loan Officer. "She very much wants to continue to invest in her local community. CRDC and Merrimack County Savings Bank worked together to assist in the financing of both the real estate and the business. Ana was determined to keep all four full-time and two part-time employees of the hardware store, she even hired her Father who lives nearby to assist in the day-to-day business operations." "I always had a good feeling about this place," said Ana as she looked around the hardware store and at her employees, we are all local, and we are all family." The Fox Ace Hardware Team, Ethan, Darlene, Anna, Wayne, Dylan, Patrick, Ana and her son Cristian with Jennifer Boulanger, CRDC's Loan Officer and Ryan Frazier, Vice President, Commercial Loan Officer, Merrimack County Savings Bank. en-us $date CRDC Attends Funding Workshop http://www.lianaishouce.cn/news.html?news_id=152&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC鈥檚 Executive Director, Stephen Heavener joined U.S. Representative Kuster for a Federal Funding Workshop hosted at Claremont's MakerSpace. Stephen joined representatives from NHBEA, NH SBA, CDFA, EDA, and the USDA . These representatives discussed the numerous opportunities for small businesses and municipalities to apply for federal funding opportunities. Click here for more about CRDC's available funding options: en-us $date CRDC Provides Financing to PACE Career Academy for Purchase of New School http://www.lianaishouce.cn/news.html?news_id=151&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 鈥淲e honestly would not be here today, owning our own building if it wasn鈥檛 for the gap funding provided by CRDC,鈥?said Jorge Santana, PACE Career Academy Executive Director. 鈥淐RDC made the purchase of our new location possible.鈥? For Jorge, the past six months have been a whirlwind. What he thought was going to be a simple lease agreement for 6,000 sf of new space in a vacant commercial property in Concord, quickly turned into a purchase and sale agreement. 鈥淲e had seven days after receiving a certified letter from the building owner to match the sale offer he received,鈥?added Jorge. 鈥淲e are very thankful for Gene Calvano, a PACE Board Member who made the introduction to Jennifer Boulanger at CRDC.鈥? Founded in 2011 with 20 students, PACE Career Academy is a district sponsored public charter high school, a non-profit 501(c)(3) organization. The PACE mission is one that allows at-risk students to partner in the design of their academic, career and personal growth paths. The goal for these students is to develop the skills, both academic and personal, to become an essential part of their community, family, and professional worlds. 鈥淧ACE鈥檚 mission is in line with CRDC鈥檚 in supporting the workforce through the training of individuals for new careers,鈥?said Jennifer Boulanger, CRDC Loan Officer. 鈥淛orge and Gene worked hard to secure financing for the construction of the classrooms through NH Health an Education Facilities Authority (NH HEFA) under their Direct Loan Plus Program. As well, NH HEFA was able to partner with a Senior Lender (Eastern Bank in this case) to participate in the senior financing with an extremely low rate. CRDC was then able to provide $200,000 in 鈥榞ap financing鈥?to partner with Eastern Bank/NH HEFA in supporting the purchase of the facility converting the leased premises to owned premises. We are happy we were able to assist PACE in this loan. The increase in space will allow them to reach their goal of 80 students.鈥? 鈥淲e are entering the 2019-2020 school year with 55 enrolled students,鈥?said Jorge. 鈥淢ost charter schools need to continue to grow to maintain funding; but here, we decided to cap enrollment at 80 students. Our goal is keep the ratios small. We are very thankful for the way things turned out. CRDC, NH HEFA and Eastern Bank worked in collaboration and it really was an easy process. At closing, we had every single student sign a copy of the documents, so they had a sense of ownership.鈥? More About PACE Academy: PACE works with young people ages 14-19 that have not been successful at their home high school for a variety of reasons and currently has a rolling average enrollment of 50 students with 8 graduating in June 2019. The current enrollment represents students from Pembroke, Concord, Manchester, Hooksett, Allenstown, Epsom, Chichester, Franklin, Tilton, Northfield and Deerfield. The students either attend a morning session or an afternoon session in the classroom. Alternatively, they receive additional experience through their employment/internship. Left to right: Jorge Santana, Executive Director, PACE Career Academy with Jennifer Boulanger, CRDC Loan Officer, Kevin Finke, VP, Eastern Bank, Rachel Carver, Career Experiences Coordinator, PACE Career Academy and Bonnie Payette, NHHEFA en-us $date CRDC Provides Initial Financing for Redevelopment Project for Concord Developer http://www.lianaishouce.cn/news.html?news_id=150&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Recently, the Bank of New Hampshire Stage, owned by the Capital Center for the Arts, opened in Concord, after a major redevelopment project. 聽 CRDC was an early facilitator of the project, with the initial financing. 聽 Since 1927, the Concord Theatre, located at 44 South Main Street, Concord, had been in operation for live performances and movies. After years of deterioration, the theatre closed in 1989. The Capital Center for the Arts (CCS) indicated interest in the theatre building, to create a venue, smaller than its 1,340 seat Chubb Theatre, with 250 seats for newer artists to offer live performances in an intimate setting. 聽 Steve Duprey, a Concord real estate developer, had been working with the CCA on its plans to develop the building at 44 South Main for small scale programing, which would complement its large scale programing. To facilitate that vision, Duprey signed a P&S with the owners for two lots, the theatre and an abutting garage. The P&S required that title be taken by December 31, 2017. However, the total project, in addition to the initial acquisition financing, required substantial financing for the cost of the redevelopment. 聽 A synergistic financing structure was created which involved conventional bank financing, New Market Tax Credits, CDFA tax credits and Historic Tax Credits (HTC). The latter, HTC, were also expiring year end 2017. Facing a deadline of December 31, 2017 to obtain firm commitments for acquisition financing and the construction financing, the financing team of Merrimack County Savings Bank and the New Hampshire Community Loan Fund and CRDC, obtained approvals and closed on a participation loan, to finance both the acquisition and construction financing. 聽 The loan was closed December 27, 2017. In mid-2018, Bank of New Hampshire, with the approval of the New Markets Tax Credits, paid off the acquisition loan. 聽 CRDC prides itself on its mission-focused financing and on our capacity to respond to community needs. The tale of our involvement in this project clearly demonstrates that. 聽 en-us $date CRDC Provides Financing for Renovation of Pearson's Building in Manchester http://www.lianaishouce.cn/news.html?news_id=149&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Elm Grove Companies recently completed renovation of a new mixed use building in downtown Manchester. CRDC partnered with Bangor Savings Bank providing financing to Elm Grove Properties for the purchase and renovation of 922 Elm Street. Now called Pearson's Place Apartments, Elm Grove created 30 one-bedroom apartments on the upper three floors and kept its street level commercial tenant, Pearson's Jewelry while adding a new restaurant. 聽 Each unit boasts a luxury design with all the modern upscale amenities and features smart device controls, "these apartments are just steps away from everything that downtown Manchester has to offer," said Newton Kershaw III, Owner, Elm Grove Companies. "We had overwhelming interest in The Flats, another upscale, modern apartment building we recently completed, and another project CRDC helped us with. We felt we could do the same upscale, smaller living apartments here which are really designed with millennials in mind." 聽 "Elm Grove Companies and its management team have a shared history of achievement in real estate acquisition, construction and property management," said Jennifer Boulanger, CRDC Loan Officer. "CRDC has assisted Elm Grove Companies with several mixed-use buildings. They are capturing the needs and wants of their tenants, especially with Pearson's Place Apartments." 聽 The apartments are Energy Star rated and were designed to keep the busy Elm Street noise out with spray foam insulation, and triple-pane windows. 聽 "We have enjoyed a great working relationship with CRDC," said Kershaw. "They are easy to work with and have great relationships with the community banks that we work with, making the loan process run smoothly." 聽 Photo Caption: Stephen Heavener, CRDC Executive Director, Jennifer Boulanger, CRDC Loan Officer with Newton Kershaw III, Owner, Elm Grove Companies stand in front of Pearson's Apartments. 聽 聽 en-us $date CRDC Featured in Union Leader's Ask the Expert http://www.lianaishouce.cn/news.html?news_id=148&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 Ask the Expert: RDCs are another financing option By STEPHEN HEAVENER Jun 2, 2019 聽 The New Hampshire Alliance of Regional Development Corporations is a consortium of 10 nonprofit economic development organizations established to support, enhance and promote economic development efforts and job creation specific to the individual needs of the various regions of the state. Members have access to resources to government funding sources, revolving loan pools and gap financing. 聽 The creative financing programs managed by the RDCs may be an ideal resource to supplement traditional bank financing as companies sell to new owners or seek expansion capital. It is a tool that should be considered when businesses set up their success plans and plan for growth. RDCs have been successful in providing gap financing to owners selling to family members and external borrowers. 聽 The RDCs typically provide debt financing, which requires some level of acceptable collateral to secure their loans. Because most loans are deployed in coordination with traditional bank financing, the RDCs generally accept a subordinate position to the bank鈥檚 first position on assets being financed. Because of this requirement for collateral, debt financing is generally not an ideal resource to fund startups or technology focused companies because of the nature of their assets. Most RDCs do not have the skill set to evaluate intellectual property, for example, as a collateral option. As companies evolve and reach income sustainability and seek traditional office leases or acquire real estate, working with a RDC may become a financing option. 聽 Most RDCs work closely with banks to fill financing gaps with the goal of supplementing traditional commercial capital. They do not compete with banks but provide additional funds through flexible loans required to move a project to completion. RDCs have a higher risk tolerance than banks based on their nonprofit mission goals of job creation, tax base enhancement and redevelopment of impactful and high visibility buildings. 聽 Businesses looking to obtain a Community Development Block Grant funding through the New Hampshire Community Development Finance Authority for an Economic Development loan to finance job creating expansions should work with their local RDC. The experienced RDC staff can guide a business through the process, including obtaining municipal approval for an application and terms for repayment. 聽 The Capital Regional Development Corp., CRDC, is the RDC responsible for business and development lending throughout Sullivan, Merrimack and eight towns in Hillsborough County (Goffstown, Weare, New Boston, Bedford, Manchester, Mont Vernon, Amherst and Hollis). 聽 CRDC manages small business and development loan funds capitalized by the U.S. Small Business Administration, U.S. Department of Agriculture, the U.S. Environmental Protection Agency and State of New Hampshire Tax Credit programs. CRDC currently maintains loan portfolios to nearly 150 New Hampshire businesses and developers with outstanding loans balances that exceed $35 million. 聽 The following is a sample list of projects in the Manchester market that CRDC has injected some level of financing into: GYK Antler redevelopment of York Cigar Building in Manchester, New Morning Schools in Bedford, The Flats at Hanover Square mixed use commercial and residential redevelopment of the former Farnum Center Building, Manchester Music Mill, North End Montessori School in Manchester, Bunny鈥檚 Market expansion to downtown Manchester, Lambert Funeral Home succession to new owners and the redevelopment of the former Ted Hebert Music School into 30 apartments and commercial space. en-us $date CRDC Finances Three Convenience Stores/Gas Stations http://www.lianaishouce.cn/news.html?news_id=147&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC and Northway Bank joined together to support the expansion of operations for Jayendra (Jay) Patel and family in their management of convenience stores throughout NH. The Patel's are experienced local convenience store operators who had the opportunity to purchase two new stores in Newport (Newport Meat Market) & Windham (ENGEN II) as well as purchase the land and building housing one of their existing locations in Allenstown, (Suncook Valley Convenience/ENGEN I). 聽 "I can already see an increase in business in all three locations," said Patel. "In Newport, my vision when I bought it was to reorganize the existing layout to make it more customer friendly, giving the store more of an open concept. We have received a great response from our customers. In Allenstown, we increased the size of our kitchen allowing us to offer more food options to our customers. We also installed new energy efficient freezers and coolers. Our new layout has helped with our labor costs. Our deliveries are now able to be streamlined through one point of entry directly into the back coolers alleviating the need for extra staff to assist. All of these small changes add up." Jennifer Boulanger, CRDC Loan Officer and John Udaloy, SVP Senior Market Manager, Northway Bank worked together to provide financing to the Patel family. "Financing three locations with the same parties made things easier for everyone involved," said Boulanger. "In Newport CRDC assisted with an SBA 504 Loan as well as a direct loan. In Allenstown and Windham, CRDC only provided SBA 504 Loans." "Financing for all of these businesses was very fluid," added Patel. "Jennifer is extremely organized and knowledgeable which made things very easy on me. Both her and John had my best interest and you wouldn't know other than the paperwork that they worked separately." Patel changed gas brands when he took over the store in Newport. Changing from Citgo to an "unbranded" label he now calls "Yoshi", which is Japanese for "good luck". The Allenstown and Windham locations continue to operate under the private brand of Engen. 聽 Pictured: John Udaloy, SVP, Market Manager at Northway Bank, Jay and Kunal Patel and Jennifer Boulanger, CRDC Loan Officer 聽 p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Arial; color: #011890; -webkit-text-stroke: #000000} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Arial; -webkit-text-stroke: #000000; min-height: 15.0px} span.s1 {font-kerning: none} en-us $date CRDC Speaks to Sullivan County Business Owners about Available Funds for Economic Development http://www.lianaishouce.cn/news.html?news_id=146&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce it has more than $1.0 million in available funds to deploy for business development in Sullivan County. 聽 CRDC's Executive Director, Stephen Heavener, and CRDC Loan Officer, Liz Sweeney spoke to a number of business owners and commercial lenders during an informational session held at the Claremont MakerSpace. 聽 "Our Sullivan County Loan Fund is one of our direct loan programs and can be used to assist in the financing of redevelopment of high visibility projects," said Stephen Heavener, CRDC Executive Director. "Loan amounts are flexible but our portion is generally not more than 50% of the total project. We typically work closely with commercial lenders on filling financing gaps for small businesses and redevelopment projects." 聽 "There is a great opportunity for real estate development with CRDC, a reputable partner that has successfully helped New Hampshire's economic redevelopment landscape," said Nancy Merrill, Director of Planning and Development, Claremont Development Authority. 聽 Heavener added, "We are focused on providing financial support to businesses in order to promote economic development, to foster the creation of quality jobs, and to enhance the economic well-being of the communities in our service area." 聽 Local SBDC and SBA representatives also joined Stephen Heavener and Nancy Merrill to assist local business owners with questions and advice. 聽 聽 Back Row: Phillip Frechette, SBA Lender Relations Specialist with Stephen Heavener, CRDC Executive Director. Front row: Melanie Patterson, Business Advisor, SBDC Keene Office, Nancy DuBosque, Regional Director, SBDC Keene Office, Nancy Merrill, Director, Department of Planning and Development, City of Claremont, Liz Sweeney, CRDC Loan Officer and Cheryl Croto, Public Affairs Officer, SBA. p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Arial; color: #454545; -webkit-text-stroke: #000000} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Arial; -webkit-text-stroke: #000000; min-height: 15.0px} span.s1 {font-kerning: none} en-us $date CRDC Offers Financing to New Amherst Business http://www.lianaishouce.cn/news.html?news_id=145&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC recently partnered with Primary Bank to provide funding to Dr. Romy Valdez, Jr. for the purchase and improvement of an office condominium in Amherst. 聽 Dr. Valdez, a Dartmouth & Harvard Medical School trained psychologist recently opened, Center for Psychological Health and Well-Being PLLC with cofounder and healthcare practitioner, Danielle Ravenelle. An innovative psychology practice, the Center, integrates researched based holistic practices like yoga, meditation, breath-work, nutrition and sound/vibrational medicine with traditional psychotherapy & counseling. 聽 "Initially we were looking for space to rent," said Danielle Ravenelle. "We knew we needed a large studio space to conduct the well-being healthcare practices for individuals and groups in addition to our private offices." added Romy. "Our vision of bringing this unique type of care to the community really came to life once we found this location. The entire loan process was quite easy and working with both Primary Bank and CRDC was a wonderful experience." 聽 "This was one of the smoothest startup we have worked on," said Jennifer Boulanger, CRDC Loan Officer. "Within 60 days, Romy and Danielle submitted their business, found the location, closed on the financing and even started renovation the same day." Their practice opened on February 1, 2019. 聽 "This was a startup business and CRDC successfully assisted with providing the gap financing that was needed to make the deal work," said Joseph Bator, Executive Vice President and Senior Lender, Primary Bank. "The entire process was seamless between both financial institutions and the borrower. The business is a great addition to the Amherst area." 聽 聽 聽 p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; text-align: center; font: 13.0px Arial; color: #011890; -webkit-text-stroke: #000000} span.s1 {font-kerning: none} td.td1 {width: 564.0px; margin: 0.5px 0.5px 0.5px 0.5px} Jennifer Boulanger, CRDC Loan Officer with Romulo Valdez, Jr., Ph.D, Joe Bator, Executive VP and Senior Lender at Primary Bank and Danielle Ravenelle, Office Manager en-us $date CRDC Announces $1million in Loan Funds Available for Business Development in Sullivan County http://www.lianaishouce.cn/news.html?news_id=144&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce it has more than $1.0 million in available funds to deploy for business development in Sullivan County. As one of ten Regional Development Corporations, Sullivan County is in CRDC鈥檚 service territory. 聽 An informational session to learn more about CRDC鈥檚 Sullivan Loan Fund will take place on Wednesday, April 3 from 11:30am-1:30pm at Claremont MakerSpace, 46 Main Street in Claremont. Lunch will be provided. Registration is required at: https://claremontmakerspace.org 聽 鈥淥ur Sullivan County Loan Fund is one of our direct loan programs and can be used to assist in the financing of redevelopment of high visibility projects,鈥?said Stephen Heavener, CRDC Executive Director. 鈥淟oan amounts are flexible but our portion cannot be more than 50% of the total project. We typically work closely with commercial lenders on filling financing gaps for small businesses and redevelopment projects.鈥? 聽 鈥淲e strongly encourage our local business community to join CRDC, our local regional development partner for this informational session to learn more about this loan program,鈥?said Nancy Merrill, Director of Planning and Development, Claremont Development Authority. 鈥淭here is a great opportunity for real estate development with CRDC, a reputable partner that has successfully helped New Hampshire鈥檚 economic redevelopment landscape.鈥? 聽 CRDC is focused on providing financial support to businesses, in order to promote economic development, to foster the creation of quality jobs, and to enhance the economic well-being of our local communities. 聽 en-us $date CRDC Offers Refinancing Assistance to Timber Post Bed & Breakfast http://www.lianaishouce.cn/news.html?news_id=143&module_params[name]=news&module_params[mode]=default&module_params[action]=detail "To own this B & B is a dream," said Timber Post Bed and Breakfast Owner, Vivian Girard. "To some it may seem like a lot of work, but I love it, and to me its not work." 聽 Vivian Girard is the sole owner of Timber Post Bed and Breakfast, a 3,302 s/f B & B located in Hollis, New Hampshire. Boasting a beautiful landscape even in the winter, the 2.3 acres of property is popular for brides and their wedding parties. "Our guests who are looking for a wedding venue as well as a place to stay have the option of renting the outdoor space to host their wedding or large party." 聽 Built in 1774, the property over time naturally needed renovations. Vivian purchased the property in 2014 with the plan to convert the colonial home into a bed & breakfast. 聽 Through sweat equity and a sizable initial personal investment, Vivian was able to update the living area, guest bedrooms, bathrooms, and outdoor patio. However, one major upgrade was still needed and that was the installation of a new sprinkler system to bring the property up to fire code. 聽 "I sought the assistance of CRDC to help refinance the property. CRDC was able to provide the gap financing I needed through a Direct Loan. Everything was easy, and very seamless between CRDC and Bank of New Hampshire, who also assisted me with refinancing," added Vivian. 聽 "We started working with Vivian prior to the refinance, offering technical assistance," said Jennifer Boulanger, CRDC Loan Officer. "Because the property was purchased as personal real estate and not a business initially, we had to convert the refinancing into business loan. With the addition of the new sprinkler system, Vivian was able to increase her guest limit from three to 16, allowing for a much larger stream of revenue. We were pleased to offer the gap financing needed and provide Vivian with technical assistance throughout the process as well." 聽 Timber Post Bed & Breakfast can host up to 16 guests and is the only B & B located in Southern New Hampshire. For more information, click here: Timber Post Bed and Breakfast. 聽 Caption: Jennifer Boulanger, CRDC Loan Officer and Vivian Girard, Timber Post Bed and Breakfast Owner stand in front of the 1774 Colonial B &B located in Hollis, NH. p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 19.0px Times; color: #011890; -webkit-text-stroke: #000000} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Times; -webkit-text-stroke: #000000; min-height: 16.0px} p.p3 {margin: 0.0px 0.0px 0.0px 0.0px; font: 15.0px Arial; color: #011890; -webkit-text-stroke: #000000} p.p4 {margin: 0.0px 0.0px 0.0px 0.0px; font: 15.0px Arial; -webkit-text-stroke: #000000; min-height: 17.0px} span.s1 {font-kerning: none} span.s2 {font: 15.0px Arial; text-decoration: underline ; font-kerning: none; color: #0433ff; -webkit-text-stroke: 0px #0433ff} en-us $date CRDC Awards 2018 Bank and Commercial Lender of the Year http://www.lianaishouce.cn/news.html?news_id=142&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce two awards were presented at its annual Banker Celebration held at the Grappone Conference Center in Concord, N.H. The first award recognized Primary Bank as CRDC鈥檚 Bank of the Year. The award according to CRDC Executive Director, Stephen Heavener is based on highest dollar volume of lending of loans referred to CRDC in the fiscal year ending September 30, 2018. 鈥淐RDC is a non-profit development corporation, and relies heavily on our relationships within the banking industry to achieve our mission,鈥?says Heavener. 鈥淧rimary Bank referred 25% of our closed loans for fiscal year 2018. They are a lead supporter of our work this fiscal year and we recognize their support.鈥? 聽 CRDC also celebrated the dedication and support of John Udaloy, SVP Senior Market Manager, Northway Bank. The award is solely based on the dollar volume produced together by a commercial lender and CRDC. 鈥淛ohn鈥檚 commitment to CRDC and his customers is evident through the work we have accomplished together.鈥? In addition to the Awards presented at CRDC鈥檚 Annual Meeting, Heavener thanked the many other commercial lenders in attendance for their dedication and commitment to the banking industry. 鈥淐RDC proudly collaborates with multiple banks to facilitate the lending process for New Hampshire companies looking to expand their business through the purchase of real estate, new equipment or a whole new business,鈥?said Heavener. We thank our lending partners for our tremendous success where we funded a total of 25 loans, including nine SBA Loans worth $3,077,000 and 16 direct loans totaling $1,614,283. Total loans funded/closed was $4,691,283. CRDC worked with 11 different banks in 13 distinct communities in seven counties.鈥? Primary Bank was awarded as Bank of the Year by CRDC. This award is based on highest dollar volume of lending of loans referred to CRDC in the fiscal year ending September 30, 2018. (L-R) Primary Bank President & CEO, Bill Stone receives the Bank of Year Award from CRDC鈥檚 Executive Director, Stephen Heavener. John Udaloy SVP Senior Market Manager, Northway Bank was recognized as CRDC's Commercial Lender of the Year. The award is solely based on the dollar volume produced together by a commercial lender and CRDC. (L-R) CRDC鈥檚 Executive Director, Stephen Heavener presents John Udaloy, SVP Senior Market Manager with the Commercial Lender of the Year Award. 聽 p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 16.0px 'Times New Roman'; -webkit-text-stroke: #000000} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; font: 16.0px 'Times New Roman'; -webkit-text-stroke: #000000; min-height: 18.0px} p.p3 {margin: 0.0px 0.0px 0.0px 0.0px; font: 16.0px 'Times New Roman'; color: #1d2129; -webkit-text-stroke: #1d2129} p.p4 {margin: 0.0px 0.0px 0.0px 0.0px; font: 15.0px 'Times New Roman'; -webkit-text-stroke: #000000} span.s1 {font-kerning: none} span.s2 {text-decoration: underline ; font-kerning: none; color: #0433ff; -webkit-text-stroke: 0px #0433ff} span.s3 {text-decoration: underline ; font-kerning: none} table.t1 {border-collapse: collapse} td.td1 {width: 102.6px; padding: 0.0px 7.2px 0.0px 7.2px} td.td2 {width: 181.6px; padding: 0.0px 7.2px 0.0px 7.2px} en-us $date Mill City Park in Franklin Release Update on Master Plan Funded by CRDC http://www.lianaishouce.cn/news.html?news_id=141&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Mill City Park in Franklin, a community organization we funded a master plan for, is coming to life. Here's an update on the project... https://www.concordmonitor.com/Franklin-white-water-park-works-to-complete-master-plan-21828593?fbclid=IwAR2i3g4irW77Wqohk5q7Kz59ZJ9liTgRD6l6kXAsEqH1EcTWzCamyTc3LsY en-us $date CRDC Customer Testimonial, Steve Duprey http://www.lianaishouce.cn/news.html?news_id=140&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC Customer Testimonial, Steve Duprey, Duprey Companies 聽 "I simply want to express my thanks to CRDC, your Board of Directors and the entire staff for all the assistance that has been given me over many years and many projects. I would not have had the success I have but for CRDC. On a number of my projects, CRDC participation was critical to making the projects even happen at all. Whether it is the gutting and renovation of the Fairfield Inn, the Grappone Conference Center, the Smile and Love your Neighbor buildings, and most recently the Granite Center/Eagle Square project and the Concord Theater, none of those would have occurred without CRDC. While I get more credit than I deserve for those projects, CRDC certainly doesn't get enough. But I wanted your entire team to know what a difference CRDC has made in Concord. Again, my heartfelt thanks." ~ Steve Duprey, The Duprey Companies 聽 CRDC and developer Steve Duprey have been working together for more than a decade. We join with him in our mission of focusing on providing financial support to businesses, in order to promote economic development, to foster the creation of quality jobs, and to enhance the economic well-being of our local communities. Below is a sampling of projects we assisted the Duprey Companies with funding. Other projects not pictured below include: 43 Degrees North Athletic Club, the Lincoln Financial Building, Steve's Greens. 聽 聽 Soon to be Newly Renovated Concord Theater 聽 聽 Love Building, 45 South Main Street, Concord, NH (Previously known as the Sanel Block) 聽 聽 Smile Building, 49 South Main Street, Concord, NH (Previously known as NH Bindery) 聽 聽 Residence Inn by Marriott in Concord, NH 聽 聽 Eagle Square Building, Concord, NH (Soon to be the new Granite Center) 聽 聽 Fairfield Inn by Marriott Concord, NH 聽 聽 The Grappone Conference Center, Concord, NH en-us $date CRDC Welcomes New Board Members http://www.lianaishouce.cn/news.html?news_id=139&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC, a non-profit development corporation that provides a variety of economic development services and small business loans to businesses and local governments throughout New Hampshire is pleased to announce it welcomed ten new members to its Board of Directors. Those members include; Ryan Audley, Audley Construction, Suzanne Brunelle, Devine Millimet, Joe Conway, Sugar River Bank, Susan B. Dunton, formerly NHTI, James Gallagher, Merrimack County SavingsBank, Ken Koornneef, Nobis Engineering, Steve Korzyniowski, Macy Industries, Bill Norton, Norton Asset Management, Melanie Sanuth, City of Manchester Economic Development Office, Will Stewart, Stay Work Play NH. 鈥淥ur Board of Directors play a vital role in the success of CRDC and the businesses and economic development projects we fund,鈥?said Stephen Heavener, CRDC Executive Director. 鈥淐RDC鈥檚 loan portfolio is comprised of SBA 504 loans, CRDC direct funded loans and mission appropriate real estate investments. Our Board Members are local business professionals with the knowledge, background and expertise in New Hampshire banking, real estate & construction, and economic development - I look forward to working with this Board to enhance CRDC鈥檚 success in the communities we serve.鈥? 鈥淲e have a dynamic group of people joining an already strong and dedicated group of individuals who have left a lasting impact in New Hampshire鈥檚 economy through the commercial and real estate projects we have approved and funded,鈥?said Brian Lavoie, CRDC鈥檚 Board President and Senior Vice President at Eastern Bank. 鈥淲e welcome our new Board Members and look forward to enhancing CRDC鈥檚 loan portfolio throughout the next fiscal year.鈥? Pictured left to right: Bill Norton, Suzanne Brunelle, Joe Conway, Ryan Audley, Melanie Sanuth, Ken Koornneff, James Gallagher, Steve Korzyniowski, Susan Dunton, (not pictured: Will Stewart) en-us $date CRDC Closed and Funded Loans for Fiscal Year 2018 http://www.lianaishouce.cn/news.html?news_id=138&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC collaborates with multiple banks to facilitate the lending process for New Hampshire companies looking to expand their business through the purchase of real estate, new equipment or a whole new business. 聽 We thank our lending partners for our tremendous success where we funded a total of 25 loans, including nine SBA Loans worth $3,077,000 and 16 direct loans totaling $1,614,283. Total loans funded/closed was $4,691,283. 聽 CRDC worked with 11 different banks in 13 distinct communities in seven counties. 聽 The following are examples of the work we accomplished in Fiscal Year 2018. 聽 en-us $date CRDC Finances Second Location for Individual Fitness http://www.lianaishouce.cn/news.html?news_id=136&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce it recently assisted in financing the opening of a second location for Individual Fitness, a private one-on-one personal training studio that specializes in personalized fitness and nutritional coaching. 聽 Jim and John Olson, brothers and business partners together manage their successful Concord, New Hampshire location but always had the desire to tap into the Greater Manchester market. 聽 "We've been in Concord for 17 years, but we knew we wanted to expand our services," said Jim Olson, CEO and Founder of Individual Fitness. "We wanted to offer our existing customers another location while bringing our coaching and fitness expertise to a brand new market. We always had the goal of being in two communities, but finding the right location is not always that easy. We took our time and finally found a building in Manchester that has everything we need, especially parking." 聽 CRDC teamed up with Provident Bank to secure a financing package to renovate the 5,000 s/f space located at 268 N. Mammoth Road in Manchester. 聽 "Space wise we are maxed out in our Concord location, by adding this second location we really can expand our services and customer base," added Olson. "People get busy with life, and we're here to give them that dedicated, focused hour of private individualized training they need. We are here to help people get educated on how to train, how to eat and how to get the most out of their time at the studio. Our business model works. We have some people who have been with us for years, while others get the fitness education they need to be successful in a gym by themselves." 聽 "CRDC is a mission based, gap financing organization that focuses on job growth and economic development for small to medium sized businesses," said Stephen Heavener, CRDC Executive Director. "We assist commercial lenders, and business owners with that 'gap' in financing that is needed to make a deal work. In this particular case, there are five new jobs created because of this business expansion." 聽 "CRDC and Provident Bank really made the borrowing experience easy," said Jim Olson. "From the get go it was a smooth partnership between CRDC and Provident which really allowed us to focus our attention on our customers and the renovation process." 聽 Individual Fitness will celebrate its grand opening at a Ribbon Cutting Ceremony on October 24th from 4pm-8pm. 聽 聽 Jim Olson, CEO & Founder of Individual Fitness with Stephen Heavener, CRDC's Executive Director and John Olson, Owner and Personal Trainer, Individual Fitness en-us $date Notice: SBA Rate/Fee Changes http://www.lianaishouce.cn/news.html?news_id=137&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Each year the SBA reviews certain fees payable to SBA by 504 borrowers to determine if any of those fees need to be adjusted to cover the estimated subsidy costs of the 504 loan program. 聽 The SBA recently announced the FY2019 annual service fee (also known as the "on-going guaranty fee") and upfront guaranty fee for 504 loans. 聽 The following fees are effective for 504 loans approved October 1, 2018 through September 30, 2019: 聽 For 504 loans (other than 504 Debt Refinance loans) approved in FY2019: 聽 1) The upfront guaranty fee will be 0.50% (50 basis points). It was zero in FY2018. 聽 2) The annual service fee will be 0.368% (36.8 basis points) of the outstanding balance of the loan. It was 0.642% in FY2018. 聽 For 504 Debt Refinance loans approved in FY2019: 聽 1) The upfront guaranty fee will be 0.50% (50 basis points). 聽 2) The annual service fee will be 0.368% plus 0.027%, for a total of 0.395% (36.8 basis points plus 2.7 basis points) of the outstanding balance of the loan. 聽 聽 en-us $date CRDC Awards $2,500 through Community Grant Program http://www.lianaishouce.cn/news.html?news_id=135&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC recently awarded a $2,500 grant through its Community Grant Program to design plans to renovate the Historical 56 Opera House Square in downtown Claremont. The building which has been vacant for more than 20 years will be undergoing a complete renovation. 聽 "The project will not only rejuvenate a key building in the Historical District, but it will also give West Claremont Center for Music and the Arts the expanded facility we need to better serve our community," said Melissa Richmond, Executive Director, West Claremont Center for Music and the Arts. "We will implement a robust regional music education program, expand our visual arts programs, offer more quality live arts events with musicians from across the country and around the world, and provide tools creative professionals need to start and build their businesses." 聽 Funds provided by CRDC will help West Claremont Center for the Arts, the project organizers cover costs associated with the architectural design. 聽 "The primary focus of CRDC's Community Grant Program is to support projects and programs that lead to job creation/retention and enhance a community's tax base while providing a public benefit," said Chris Wellington, CRDC's Project Management Officer. "Our mission is to help support communities like Claremont with their economic development plans. In addition to the Community Grant, CRDC provided $70,000 to the City of Claremont through its Brownfield Revolving Loan Fund (RLF) to help support the environmental cleanup of asbestos removal." See below for more information about CRDC's Brownfield Loans. 聽 CRDC's Community Grant Program also funded five additional projects in Merrimack, Sullivan and Hillsborough Counties for a total of $26,230. Other grants awarded by CRDC this fiscal year include: Sullivan County to hire a consultant that will explore the feasibility of cheese and mushroom production at a root cellar located on the Sullivan County Farm, an economic development survey for the Town of Amherst that will focus on short and long-term economic development goals for the town, the Merrimack County Conservation District received a grant from CRDC to help support the purchase of a freezer/refrigeration unit for their Capital Area Local Food Initiative, the Manchester Makerspace received grant funding to support their operations and two grants were awarded to two separate economic development projects in Franklin {see Franklin story here}. 聽 Melissa Richmond, Executive Director, West Claremont Center for Music and the Arts and Chris Wellington, CRDC's Project Management Officer stand inside the Historical 56 Opera House Square en-us $date CRDC Finances Upscale Fitness Center in Concord http://www.lianaishouce.cn/news.html?news_id=134&module_params[name]=news&module_params[mode]=default&module_params[action]=detail In 2017, Steve Duprey brought his skills in redeveloping a number of Concord properties to a property and a defunct business on Home Avenue to bring to life a new health and fitness facility. The club features traditional fitness, with standard weight and circuit equipment, group exercise sessions, spinning, two large exercise studios, saunas and therapeutic massage rooms. In addition, personal and group training, nutrition counseling, cardiac rehab services are offered. All the amenities of an upscale health club are offered within a modern open structure. 聽 The new facility is known as 43 Degrees North, receiving its name from the exact latitude that runs through the center of Concord. Bank of New Hampshire and CRDC provided acquisition financing for the project. 聽 Duprey foresees that 43 Degrees will offer comprehensive approach for individuals seeking an active life style. 聽 "Concord has some great health clubs, but research showed the market was missing a boutique, upscale facility that offers a well rounded health approach for individuals," said Steve Duprey, owner operator of 43 Degrees North. "Our purpose is not to be the biggest or the only athletic club in the area, rather we want to be at the center of a local movement that promotes health and fitness, as it works with each member to help them achieve their individual goals." 聽 "CRDC worked closely with Bank of New Hampshire to structure the loan that worked for the owner for both the acquisition and the financing of the fitness equipment," said Liz Sweeney, CRDC Loan Officer. 聽 The new space underwent a major renovation with 14,000 sf. spread over two floors. As with other redevelopment projects undertaken by Duprey, attention was paid to invest in green energy in the fit up of the club. Of interest, in addition to the traditional fitness equipment, there are free weights, circuit equipment and more than 200 pieces of the newest and best equipment the industry has to offer, including SportsArt ECO POWR鈩?equipment, eco-friendly machines that harness the power of human energy and put it back into the grid. 聽 To learn more visit: www.43northnh.com.http://www.43northnh.com 聽 聽 CRDC Loan Officer, Liz Sweeney (C) with 43 Degrees North Owner & Operators Crystal Reynolds and Steve Duprey 聽 聽 Large Screen television in the lobby of 43 Degrees displays the amount of energy produced by members utilizing the Eco-power equipment en-us $date CDFA Community Development Investment Program Awards CRDC with Tax Credits http://www.lianaishouce.cn/news.html?news_id=133&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce Mascoma Saving Bank pledged $25,000 in state tax credits for the fiscal year ending June 2018. 聽 The New Hampshire Community Development Finance Authority (CDFA) through the Community Development Investment Program, makes awards annually of $25,000 in New Hampshire state tax credits to CRDC. 聽 鈥淭his award is made to support CRDC鈥檚 operating expenses, related to implementing our mission,鈥?said Stephen Heavener, CRDC Executive Director. 鈥淣ew Hampshire鈥檚 businesses are able to invest in community and economic development projects and receive a 75% state tax credit for that contribution through the Community Development Investment Program. This fiscal year, we are pleased to announce that Mascoma Savings Bank was the sole pledge for the entire amount.鈥? 聽 The tax credit can be applied against the New Hampshire business profits, business enterprise, and/or insurance premium taxes. 聽 CRDC as one of the ten recognized New Hampshire regional development corporations, is focused on providing financial support to businesses, in order to promote economic development, to foster the creation of quality jobs, and to enhance the economic well-being of our local communities. 聽 Our lending programs include the SBA 504 program (Statewide) and direct loans through its Revolving Loan Funds (RLF) in Merrimack, Sullivan and Hillsborough Counties. 聽 en-us $date CRDC's Jennifer Boulanger Named SBA Financial Services Champion http://www.lianaishouce.cn/news.html?news_id=132&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce the NH SBA recently named CRDC's Loan Officer Jennifer Boulanger as this year's NH Small Business Financial Services Champion. In celebration of this year's New Hampshire Small Business Week sponsored by the NH SBA - Jennifer was recognized for her hard work, dedication and committment to her customers. Nominated by one of CRDC''s lending partners, Mike Vlahos, VP of Commercial Lending at Merrimack County Savings Bank, Jennifer accepted the award on behalf of the entire CRDC team; "this recognition, while in my name, is truly a reflection of the combined efforts of CRDC as a whole which includes the staff as well as our Board Members," said Jennifer. Jennifer was one of eight people recognized at the annual event which was held at the Manchester Country Club in Bedford. The event was co-hosted by the NH SBA and the NH Bankers Association. Wendell Davis, SBA Regional Administrator with Jennifer Boulanger, CRDC Loan Officer and Award Recipient with Greta Johansson, SBA District Director, NH The CRDC Team: Kim Imbriglio, Loan Portfolio Manager with Stephen Heavener, Executive Director, Jennifer Boulanger, Loan Officer, Chris Wellington, Business Development/Project Management Officer and Liz Sweeney, Loan Officer 聽 聽 Mike Vlahos, VP Commerical Loan Officer at Merrimack County Savings Bank nominated Jennifer for the prestigious recognition. 聽 聽 聽 2018 New Hampshire Small Business Week Award Recipients including CRDC's Jennifer Boulanger en-us $date CRDC Provides Gap Financing for Expansion of a Pilot Training Facility http://www.lianaishouce.cn/news.html?news_id=131&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC recently provided gap financing to support the business expansion of National Flight Simulator (NFS), a pilot training facility at the Ammon Center in Manchester, NH that utilizes state-of-the-art flight simulators which collectively simulate approximately 44 different aircraft. 聽 Stephen Cunningham, CFI-CFII, Owner of National Flight Simulator located at the Manchester-Boston Regional Airport, and a pilot himself, saw the market need to expand his flight simulations as well as an opportunity to grow the online testing center side of the business. With additional leasable space opening up at the Ammon Center, NFS could expand to include Helicopter simulation training and a bigger online testing center to host non-aeronautical testing. Stephen and Jennifer Boulanger, Loan Officer with Capital Regional Development Council, had been meeting over the years to discuss business growth and potential financing. Prior to the expansion, the testing facility was mostly geared toward pilot testing and recertification along with a few other industry-related tests through four online testing stations. 聽 鈥淭his was a great opportunity to support a growing small business and creatively support CRDC鈥檚 workforce development mission,鈥?said Jennifer Boulanger, CRDC Loan Officer. 鈥淭hrough testing and certifications individuals are able to obtain employment in a variety of industries.鈥? 聽 鈥淲e have grown from offering four online testing stations to over 20 test stations with the ability to also be ADA compliant," said Stephen Cunningham, NFS owner. 鈥淲e were able to open the online testing up to a wider range of industries and expand the testing center hours of operation.鈥? 聽 In addition to flight training, and offering the expanded online testing facility, NFS has partnered with TSA to offer fingerprinting services for those individuals looking to get a TSA Certified Pre-Check. For more information about National Flight Simulator visit www.nationalflightsimulator.com 聽 聽 Photo Caption: Stephen Cunningham, CFI-CFII, Owner of National Flight Simulator and Jennifer Boulanger, CRDC Loan Officer sit inside one of the aviation flight simulators. en-us $date CRDC Awards Community Grants to Two Economic Development Projects in Downtown Franklin, NH http://www.lianaishouce.cn/news.html?news_id=130&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is proud to announce it recently awarded a total of $10,000 to two separate Franklin non-profit organizations through its Community Grant Program. 聽 CRDC awarded Mill City Park at Franklin Falls $5,000 to help fund the development of a master plan for 9.32 acres of land surrounding the Winnipesaukee River that would create Mill City Park. The park is part of a larger development project in Franklin that Mill City Park at Franklin Falls is spearheading which is to create New England鈥檚 first whitewater park. Initial plans for Mill City Park include; a community garden, event space, picnic area, historic mill run trail, interconnection to the Winnipesaukee River Trail, mountain bike pump track system and an eco-village area. The Mill City Park Master Plan is expected to take three months. 聽 鈥淲e are very thankful for CRDC鈥檚 involvement in this project,鈥?said Marty Parichand, Executive Director of Mill City Park at Franklin Falls, a non-profit organization overseeing the development of New England鈥檚 first waterpark, and owner of Outdoor New England, a downtown Franklin business. 鈥淎 portion of the park already exists but the way it is now, it鈥檚 not very welcoming. Our goal is to make Franklin a destination spot for not only outdoor enthusiasts through the waterpark and adjacent biking trails but to also revitalize the downtown. Mill City Park will be a beautiful park for everyone to enjoy whether they live, work or visit Franklin. CRDC through its own mission is helping Franklin rebuild our downtown and we are very appreciative.鈥? 聽 聽 Photo Caption: Marty Parichand, Executive Director of Mill City Park at Franklin Falls with Chris Wellington, CRDC Special Project Management Officer. 聽 A second grant through CRDC鈥檚 Grant Program was awarded to PermaCity Life (PCL) for $5,000. PCL is a non-profit organization based in Franklin that owns seven downtown block buildings. Grant funding through CRDC will help support a condo conversion plan with the goal of converting three mill buildings into eight commercial and five residential units. The condo conversion plan is expected to deliver prepared site plans and surveys, legal documents required by the Planning Board for approval of subdivision. 聽 鈥淎t PermaCity Life we recognize that encouraging property ownership as a redevelopment strategy is a unique approach which has many advantages,鈥?said Todd Workman, Executive Director, PermaCity Life. 鈥淲e believe with CRDC鈥檚 assistance through this grant funding we can develop a plan that will create an 鈥榦wner-operator鈥?which will create pride in ownership. Favorable financing terms will likely yield debt service payments equal to or less than pro-forma rents. This will improve cash flow and encourage owners to invest in their business expansion. It's great for the business owner and great for Franklin. With the enhancement of Mill City Park and plans for New England鈥檚 first water park 鈥?we believe this is perfect timing and no doubt we will attract sustainable, committed businesses to downtown Franklin.鈥? 聽 聽 Photo Caption: Standing in front of one of the newly remodeled block buildings in Downtown Franklin is Todd Workman, Executive Director, PermaCity Life, Chris Wellington, CRDC Project Management Office, and Jenisha Shrestha, Assoc. Dir, & Community Development Coordinator, PermaCity Life 聽 "The primary focus of CRDC鈥檚 Community Grant Program is to support projects and programs that lead to job creation/retention and enhance a community's tax base while providing a public benefit," said Chris Wellington, CRDC's Project Management Officer. 鈥淏oth Mill City Park at Franklin Falls and PermaCity Life share the same mission which really is to enhance their community. CRDC is proud to support both organizations in their efforts to revitalize their downtown. Both projects share the synergy Franklin needs to help boost its economy. Our mission is to help support communities like Franklin with their economic development plans.鈥? 聽 CRDC鈥檚 Community Grant Program also funded five additional projects in Merrimack, Sullivan and Hillsborough Counties for a total of $26,230. Other grants awarded by CRDC this fiscal year include: Sullivan County to hire a consultant that will explore the feasibility of cheese and mushroom production at a root cellar located on the Sullivan County Farm , an economic development survey for the Town of Amherst that will focus on short and long-term economic development goals for the town, the West Claremont Center for Music & the Arts received grant funding to help with the architecture design plans for a scheduled move to a historical downtown mill building, the Merrimack County Conservation District received a grant from CRDC to help support the purchase of a freezer/refrigeration unit for their Capital Area Local Food Initiative and the Manchester Makerspace received grant funding to support their operations. en-us $date SBA Names CRDC's Jennifer Boulanger 2018 Financial Services Champion http://www.lianaishouce.cn/news.html?news_id=129&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Congratulations to our very own, Jennifer Boulanger for being named this year's New Hampshire Small Business Financial Services Champion. This is a well deserved recognition and we couldn't be more excited for her. 聽 Join us at the SBA Awards Dinner on May 2 to help congratulate Jennifer along with the rest of this year's SBA Award Honorees. 聽 http://www.nhbr.com/March-30-2018/Rollinsford-entrepreneur-named-SBA-Small-Business-Person-of-Year/ 聽 聽 en-us $date CRDC Provides SBA 504 Loan Program Assistance to Lakes Region Business Owner http://www.lianaishouce.cn/news.html?news_id=128&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Engraving, Awards and Gifts, is a family owned business and for more than 20 years, father and son duo, Bob and Dana Powers have been working side by side. What started as a small award, and trophy business has grown into a worldwide graphic design company that personalizes gifts, awards and special recognition items. 聽 "We have been growing and after 15 years of leasing space...it was time to own our own building," said Robert Powers, founder of Engraving, Awards, Gifts. "We looked around for property over the years, but couldn't find the right space. We knew however; our existing space here in Laconia worked for our needs." 聽 "The project property sits on the banks of Lake Opechee; across the Bay is the Lake Opechee Inn and Spa," said Jennifer Boulanger, CRDC Loan Officer. "Although waterfront property is not typical for a manufacturer, this feature definitely provides a beautiful backdrop for creativity." 聽 "Once we took ownership of the building, we made improvements, both internally for our employees, the business and externally for the community," said Dana Powers, who manages the business' daily operations. "The neighbors came down and said thank you for cleaning up. Operationally, we will able to expand into the additional space which we need since we manufacturer more and more of our own products. Our footprint went from operating in roughly 18,000 s/f to now having the ability to expand and really utilize nearly 39,000 s/f that we now own." 聽 CRDC and NBT Bank partnered to finance the loan through the SBA 504 loan program. 聽 Photo Caption: Dana Power, Engraving Awards & Gifts with Brad Croteau, VP, Commercial Banking, NBT Bank and Jennifer Boulanger, CRDC Loan Officer. 聽 p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; text-align: center; font: 14.0px Arial; color: #4c4c4c; -webkit-text-stroke: #4c4c4c} span.s1 {font-kerning: none} en-us $date CRDC Helps to Finance the Concord Theatre Restoration http://www.lianaishouce.cn/news.html?news_id=127&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is excited to partner with Real Estate Developer, Steve Duprey and the City of Concord, to help finance the Concord Theatre restoration. Concord has a vibrant arts & culture scene and the Concord Theatre project will help enhance Concord's already bustling downtown. Read the full story...http://www.concordmonitor.com/Concord-Theatre-sold-project-timeline-moves-up-14953450 en-us $date CRDC Funds Cafe and Catering Business in the Lakes Region http://www.lianaishouce.cn/news.html?news_id=126&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The passion to create fresh homemade cuisine started young for Annie Bridgeman. She learned the art of creating beautiful food and combined that with the desire to share with others and she was hooked in the restaurant & catering industry. 聽 Today, Annie owns and operates Annie鈥檚 Caf茅 and Catering. Since its inception in 2009, Annie has had a loyal customer base and has continued to grow her business into a well-known and respected catering option in New Hampshire. 聽 After nearly a decade of leasing space, and outgrowing that space, Annie knew it was time to own her own building and relocate not only her catering business but the caf茅 which offers an extensive menu of bakery items to daily soups, salads, sandwiches and specialty drinks 聽 鈥淲hen you see an opportunity, you make the investment and go for it,鈥?said Annie Bridgeman. Through the assistance of CRDC and Franklin Savings Bank, Annie was able to purchase a building near downtown Laconia. 鈥淲e couldn鈥檛 grow the business in the existing space we were leasing. I just couldn鈥檛 offer a comfortable experience.鈥? 聽 Annie was eyeing the building located at 138 Gilford Avenue in Laconia for sometime because of its ideal location, close to downtown. Formerly a pizza restaurant, it provided Annie with a turnkey kitchen & dining layout. 聽 鈥淲orking with Franklin Savings Bank, we were able to structure a 504 SBA loan for Annie that allowed her to purchase the building with a very small down payment,鈥?said Jennifer Boulanger, CRDC Loan Officer. 鈥淪he has since renovated the space, added new equipment, and really created a beautiful and welcoming atmosphere for her customers. This new location provides much better exposure for the business.鈥? 聽 鈥淐RDC and Franklin Savings Bank really worked together to get me into this new space,鈥?said Annie. 鈥淲e really love this new location. It allows me more freedom and I now have the potential for growth.鈥? 聽 For more information about Annie鈥檚 Caf茅 & Catering visit www.anniescafeandcatering.com. 聽 CRDC's Jennifer Boulanger and Annie Bridgeman stand in the dining area of Annie's Cafe Catering. en-us $date CRDC Presents Three Awards at Annual Banker Celebration http://www.lianaishouce.cn/news.html?news_id=125&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce that three awards were presented at its Annual Banker Celebration recently held at the Manchester Country Club. The first award recognized Merrimack County Savings as CRDC鈥檚 Bank of the Year. The award according to CRDC Executive Director, Stephen Heavener is based on highest dollar volume of lending of loans referred to CRDC in the fiscal year ending September 30, 2017. 鈥淐RDC is a non-profit development corporation, and relies heavily on our relationships within the banking industry to achieve our mission,鈥?says Heavener. 鈥淢errimack County Savings Bank has been and continues to be a strong partner. They are a lead supporter of our work this fiscal year and we recognize their support.鈥? CRDC also celebrated the dedication and support of James Goodhue, Vice President/Commercial Lending Officer at Primary Bank as the 2017 Lender of the Year. The award is solely based on the dollar volume produced together by a commercial lender and CRDC. 鈥淛ames deserves this award because of his continued commitment to his banking customers. He introduces our financial options such as our SBA 504 Lending or other financing products to his customers. James is a direct link to CRDC鈥檚 financial success this year and we applaud him for his strong commitment to not only us, but ultimately to his banking customers.鈥? For the first time, CRDC presented a Lifetime Achievement Award. This inaugural award was presented to Ed Caron, Executive VP and Senior Commercial Lending Officer at Merrimack County Savings Bank. 鈥淐RDC is greatly appreciative of Ed鈥檚 dedication and commitment in the banking industry and to us,鈥?said Heavener. 鈥淓d has been a strong advocate of CRDC鈥檚 and we wish him well in his upcoming retirement.鈥? Ed is scheduled to retire in January 2018 after 21 years at Merrimack County Savings Bank. (L-R): Ed Caron, Executive VP/Senior Commercial Loan Officer at Merrimack County Savings Bank, Stephen Lawrence, President of CRDC's Board of Directors, Stephen Heavener, CRDC Executive Director and Philip Emma, President of Merrimack County Savings Bank (L-R) Stephen Lawrence, President of CRDC鈥檚 Board of Directors, James Goodhue, VP/Commercial Loan Officer, Primary Bank and Stephen Heavener, CRDC Executive Director (L-R) Ed Caron, Stephen Lawrence, President of CRDC鈥檚 Board of Directors, and Stephen Heavener, CRDC Executive Director en-us $date CRDC Sponsors Brownfield Presentation at UNH http://www.lianaishouce.cn/news.html?news_id=124&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC recently sponsored the Environmental Business Council of New England's Ascending Professional Presentation held on the UNH campus in Durham. The EBC Ascending Professionals New Hampshire program brought professionals together with students to find out more about brownfields and remediation projects. CRDC's Executive Director, Stephen Heavener presented to the more than 75 attendees on CRDC's Brownfield Revolving Loan Fund (RLF) and how CRDC can help developers and municipalities secure Brownfield Funding. Click here to learn more about the RLF. 聽 en-us $date CRDC Enjoys one of their Best Years during Fiscal 2017 http://www.lianaishouce.cn/news.html?news_id=123&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC collaborates with multiple banks to facilitate the lending process for New Hampshire companies looking to expand their business through the purchase of real estate, new equipment or a whole new business. We thank our lending partners for our tremendous success where we funded a total of 25 loans, including nine SBA Loans worth $3,182,000 and 16 direct loans totaling $2,201,750. Total loans funded/closed was $5,383,750. CRDC worked with 14 different banks in 16 distinct communities. The following are several examples of the work we accomplished in Fiscal 2017. en-us $date CRDC Announces Community Grant Program http://www.lianaishouce.cn/news.html?news_id=122&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 CRDC is pleased to announce the creation of a new Community Grant Program specifically for municipalities or non-profit organizations located in CRDC's core lending area. 聽 "The Community Grant Program's primary focus is to support projects and programs that lead to job creation/retention and enhance a community's tax base while providing a public benefit," said Stephen Heavener, CRDC's Executive Director. "CRDC expects projects to be funded with a grant to have a strong likelihood that CRDC funding may be a component of the total project financing." Program Overview: Eligible applicants include: municipalities or non-profits located in Sullivan and Merrimack Counties and the following Hillsborough County communities: Bedford, Amherst, Goffstown, New Boston, Weare, Mont Vernon, Dunbarton, Manchester and Hollis. 聽 Grant Amount: Grants will be awarded between $2,500-$5,000. CRDC expects the applicant to seek other funding based on the scale of the project/program. 聽 Eligible Activities: Feasibility studies, job creation/retention activities, expansion of property tax base, community facilities and other projects that promote economic development and help raise the quality of life in the community. Only programs or projects that have a defined completion timeline will be considered. 聽 Applications are due by 5:00pm EST on Wednesday, January 31, 2018 and can be emailed to Chris Wellington at cwellington@crdc-nh.com. 聽 Award decisions will be announced by March 1st, 2018. 聽 For more information or to obtain an application contact Chris at 603-651-0679. 聽 p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 19.0px Arial; color: #2e383c; -webkit-text-stroke: #2e383c} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Arial; color: #4c4c4c; -webkit-text-stroke: #4c4c4c; min-height: 15.0px} p.p3 {margin: 0.0px 0.0px 0.0px 0.0px; font: 13.0px Arial; color: #4c4c4c; -webkit-text-stroke: #4c4c4c} span.s1 {font-kerning: none} span.s2 {font: 13.0px Arial; text-decoration: underline ; font-kerning: none; color: #0067ce; -webkit-text-stroke: 0px #0067ce} en-us $date CRDC Releases 2017 Annual Report http://www.lianaishouce.cn/news.html?news_id=121&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Capital Regional Development Council (CRDC) is pleased to release its 2017 Annual Report for fiscal year ending September 30, 2017. CRDC experienced one of its best years since the end of the recession according to CRDC Executive Director, Stephen Heavener. A total of 25 loans were funded including nine SBA loans worth $3,182,000 and 16 direct loans totaling $2,201,750. Total lending was $5,383,750. CRDC closed 16 loans with 14 different banks in 16 distinct communities. To review the 2017 Annual Report, click here. 聽 聽 聽 聽 p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 19.0px 'Century Gothic'; -webkit-text-stroke: #000000} span.s1 {font-kerning: none} en-us $date CRDC Finances New Development Project for Elm Grove Properties http://www.lianaishouce.cn/news.html?news_id=120&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce it assisted with the financing for Elm Grove Properties' most recent redevelopment project in downtown Manchester. Teaming up with Bangor Savings Bank, CRDC provided gap financing for the purchase of 922 Elm Street, Manchester. The building is most notable for its former tenant, Ted Hebert's Music. Elm Grove plans to revitalize the building and create 30 apartments on the upper floors and establishing a restaurant at street level. Click here to read more about the purchase. en-us $date CRDC Finances New Construction in Concord http://www.lianaishouce.cn/news.html?news_id=119&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Winding down from a busy wedding and event season, Eric Foster walks through his new 15,000 sf building on 6 Whitney Road in Concord, and is still brainstorming ideas to improve operations for his special event business, Lakes Region Tent & Event. 聽 "I wanted to put down some roots for the business, but the problem was finding the right building that worked for our operations," said Eric Foster, owner, Lakes Region Tent & Event. 聽 After buying the business in 2009, Eric found himself leasing space. "I knew that ultimately I wanted to have the real estate under control. Layout is important, the right building with the right location just didn't exist, so we drew it up." 聽 Lakes Region Tent & Event distinguishes itself from other event & tent rental companies in that they have in house washing of all their rental items. Under his ownership, Eric purchased an industrial "tent washer"; state-of-the-art Teeco鈩?Solutions commercial washer, specially designed for washing large volumes of vinyl and canvas material, as well as sidewalls, webbing and straps - the first of its kind in New Hampshire. 聽 聽 "I reached out to CRDC to help with financing because I wanted this to be an SBA loan - and if you need an SBA loan you go to CRDC," said Eric. "I pulled in Service Credit Union as the bank and between Service Credit Union and the CRDC they worked really well together on this deal. Both loan officers were clear professionals who understand each other's roles and how to get the project to the finish line efficiently." 聽 "The new construction which Eric designed with the Turner Group, allows for 10,000 -15,000 sf of high ceiling space," said Jennifer Boulanger, CRDC Loan Officer. "The expanded floor and ceiling space allows Eric to run the company more efficiently by washing and drying tents, tables, chairs, etc. in between service and in the offseason. The larger space helps manage personnel time and workflow more productively." 聽 聽 Eric Foster, Owner of Lakes Region Tent & Event explains how the new building is allowing operations run more efficiently with the ability to provide in house washing of their rental items. 聽 CRDC's Jennifer Boulanger and Eric Foster at Lakes Region Tent & Event in the company's new showroom. en-us $date CRDC in the News: Union Leader Column http://www.lianaishouce.cn/news.html?news_id=117&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Christopher Thompson's Closing the Deal: Financial resources available for growth By CHRISTOPHER THOMPSON July 01. 2017 7:42PM 聽 聽 聽 聽 聽 A lot of people have aspirations to quit their job and start their own business. It's a dream many of us have, but rarely do people take the steps needed to do it. Instead, they hope and dream, but it stops there. And there are many reasons for that. It's a daunting task, and your chances of failure are extremely high. According to Forbes, nine out of 10 startups will fail. That's a staggering number, and one that will certainly make the risk-adverse dreamer run for the hills. But what if you have that big idea that you're confident in? What if you know you can make it happen if you can round up the necessary people and resources? From what I've seen, heard and experienced, the single most common factor preventing people from starting their own business or growing their existing business is money. Regardless of the industry or type of business, it takes money to make money. Unless you've planned and saved for a long time or have people you know who want to invest, you're faced with trying to figure it out on your own. Most people start with friends and family, and that is definitely a logical approach. But when it comes to the money you'll need to buy real estate or remodel an existing piece of property for your business, you'll definitely need a professional financial institution to help. There are a lot of options for entrepreneurs and business owners to access the capital they need, but there is one organization in New Hampshire I recently learned about that is worth a mention. The Capital Regional Development Council (CRDC) is a nonprofit development corporation that provides financial services to businesses in New Hampshire. They have offices in Concord and Manchester and are not affiliated with state government in any way. They work directly with traditional lenders, such as banks and credit unions. And the services they offer and how they provide them are hugely beneficial and is extremely valuable information for business owners. CRDC is not a lender that a business owner would go to directly. Instead, CRDC works with lenders to help complete a loan that a traditional lender can't fully execute, given the circumstances. A simple example would be if a business owner wanted to purchase a new building to expand their business, but didn't have enough for the full down payment; CDRC could potentially help the business owner bridge the gap and get the additional funds needed to get the deal financed. So in other words, if money is a challenge, your lender can work directly with CRDC to help secure the additional funds the lender isn't willing or able to provide. The CRDC has worked on many local projects with companies such as Manchester Music Mill, Shorty's Restaurant in Bedford, Makris Car Wash and Bunny's Superette. Services like those provided by CRDC have a major impact on the state's economy, the local communities they serve and, of course, the businesses themselves. In today's business climate, things are looking bright. Financial institutions are flush with cash and competing aggressively for deals. If you've thought about starting a business or expanding your existing business, it's certainly a great time to make a move. And with the right people and resources involved, anything is possible. Christopher Thompson (chris.thompson@talientaction.com) is the vice president of business development at Talient Action Group in Manchester and writes Closing the Deal weekly for the Sunday News. en-us $date CDFA Community Development Investment Program Awards CRDC with Tax Credits http://www.lianaishouce.cn/news.html?news_id=116&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The New Hampshire Community Development Finance Authority (CDFA) through the Community Development Investment Program, makes awards annually of $25,000 in NH State Tax Credits. This year, for the State Fiscal Year 2017 - the Tax Credits were awarded to CRDC. This award is made to support CRDC's operating expenses, related to implementing its mission. 聽 New Hampshire businesses are able to invest in community and economic development projects and receive a 75% State Tax Credit for that contribution through the Community Development Investment Program (CDIP). The Tax Credit can be applied against the New Hampshire business profits, business enterprise, and/or insurance premium taxes. 聽 CRDC, as one of the ten recognized New Hampshire regional development corporations, is focused on providing financial support to businesses, in order to promote economic development, to foster the creation of quality jobs, and to enhance the economic well being of our local communities. CRDC's lending programs include the SBA 504 Loan Program (a Statewide program) and direct loans through its Revolving Loan Funds in Merrimack, Sullivan and Hillsborough Counties. 聽 As of the end of the State fiscal year, June 2017, CRDC received pledges from a number of business entities, in order to support its capacity to provide financial services for the economic benefit of our communities. 聽 For their donations to this program, CRDC would to thank the following: 聽 Cleveland Waters and Bass, P.A. Franklin Savings Bank Lake Sunapee Bank Orr & Reno, P.A. Sugar River Bank en-us $date CRDC Finances Downtown Manchester Business http://www.lianaishouce.cn/news.html?news_id=115&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce it assisted in the financing of Bunny's Convenience in Downtown Manchester. This is Pramod Nyaupane and his wife, Bibhuti Thapa's, second location who together also own Bunny's Superette located on Webster Street in Manchester's North End. The new location on the corner of Elm Street and Amherst Street underwent renovation before the grand opening. The former CVS building is now Bunny's Convenience occupying nearly 5,000 sf with storage in the basement. The second floor renovations and usage will be determined in the future. "We are very pleased with CRDC's involvement and assistance in getting us to this second location," said Pramod Nyaupane, owner Bunny's Convenience. "Once financing was approved we moved quickly to start renovations and get to our Grand Opening date." "This is a great second location for the Bunny's brand," said Jennifer Boulanger. "Not only does this fulfill a need in downtown Manchester while creating several new jobs within the next few years...it also nicely re-uses a formerly vacant building." 聽 CRDC and Primary Bank worked together to finance the property. The loan was financed under the SBA 504 Loan Program and was combined with funding through CRDC's Direct Loan Program. 聽 聽 (L-R) Joseph Bator, Exec VP & Senior Lender at Primary Bank, James Goodhue, VP Commercial Loan Officer at Primary Bank with Stephen Heavener, CRDC's Executive Director, Pramod Nyaupane, Bunny's Convenience Owner, Manchester Mayor Ted Gatsas and Jennifer Boulanger, CRDC's Loan Officer. 聽 en-us $date CRDC Hires Business Development Officer http://www.lianaishouce.cn/news.html?news_id=114&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Stephen Heavener, CRDC鈥檚 Executive Director is pleased to announce Chris Wellington will join CRDC this month as the organization鈥檚 new Business Development/Project Management Officer. 鈥淐hris has extensive experience in economic development, most recently as the CEO at the Grafton Regional Development Corporation (GRDC),鈥?said Stephen Heavener, CRDC鈥檚 Executive Director. 鈥淗e brings his extensive knowledge of creating financing solutions for small businesses through his relationships with New Hampshire Banks. Chris鈥?role at CRDC will be to identify small business lending and real estate development opportunities throughout CRDC鈥檚 territory with a focus on seeking impactful projects in communities such as; Franklin, Newport and Claremont. He will make a great addition to our team,鈥?said Heavener. 鈥淭his is an exciting time to be joining CRDC and I look forward to working with CRDC staff, business and community leaders, and CRDC鈥檚 many partners to continue making impactful investments in local businesses and development projects that enhance our community鈥檚 ability to create jobs and increase their tax base,鈥?said Chris Wellington. In addition to serving as CEO at GRDC, Chris previously worked for the New Hampshire Division of Economic Development as a Business Resource Specialist and the City of Manchester鈥檚 Economic Development Office, where he led the city鈥檚 business retention, recruitment and marketing efforts. Chris officially joins CRDC on June 19, and can be reached at cwellington@crdc-nh.com or by phone at 603.228.1872. en-us $date CRDC Customer Recognized at SBA Small Business Award Ceremony http://www.lianaishouce.cn/news.html?news_id=113&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is proud to announce that one of its customers was recently recognized by the New Hampshire Small Business Administration (SBA) Office. In celebration of Small Business Week, May 1 through May 7, the SBA along with the NH Bankers Association hosted is annual Small Business Awards Ceremony at the Manchester Country Club. Tim's Truck Capital and Auto Sales Inc., one of the largest dealership for used trucks in New Hampshire was recognized in the Family Owned Business Category. Timothy Emery, President of Tim's Truck Capital accepted the award. CRDC nominated Tim for the award and was instrumental with SBA 504 financing for the second-generation owner both to purchase the business from his father, Tim Emery, and to support the subsequent expansion of the business. "After Tim took over the business, he enthusiastically started planning for the future and the expansion of the service department," said Jennifer Boulanger, CRDC Loan Officer. "Tim constructed a 14-bay state of the art service facility, opened in 2016, which provides quality repair/maintenance services to their retail customers and allows Tim to more efficiently move inventory." "Our customers are loyal. We receive a lot of repeat business because we truly take care of our customers from point of sale through the life of the vehicle, and that includes maintenance and repair. We are able to service the general public better. This award recognizes the entire company's hard work in getting us there." CRDC's Jennifer Boulanger with SBA Family Owned Business Recipient, Tim Emery, President of Tim's Truck Capital and Auto Sales with his Father and previous owner, Tim Emery Sr. and Greta Johansson, District Director, NH SBA 聽 en-us $date CRDC Provides Financing for Bunny's Superette in Manchester, N.H. http://www.lianaishouce.cn/news.html?news_id=112&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Lottery hotspot Bunny's Superette plans downtown shop By MICHAEL COUSINEAU New Hampshire Union Leader 聽 Bunny's Superette in Manchester is opening a new location at the former CVS on Elm Street downtown. (DAVID LANE/UNION LEADER) MANCHESTER 鈥?Bunny鈥檚 Superette, known for selling winning lottery tickets, is hoping to strike it rich by buying the former CVS building on Elm Street. 鈥淣ow, I need to hit the jackpot,鈥?co-owner Pramod Nyaupane said Monday. He and his wife, Bibhuti Thapa, bought the property for $900,000 and hope to open a convenience store at the corner of Elm and Amherst streets in a few months. The store would serve breakfast and lunch sandwiches. 鈥淢y goal is June,鈥?Nyaupane said. He said customers will include people working downtown and people moving into the area, such as residents of Bill Binnie鈥檚 apartments, about a block away. 鈥淥ur goal is quick lunch for the people who are working around there,鈥?Nyaupane said. 鈥淚 think there is a good need for a convenience store,鈥?he said. 鈥淭here鈥檚 a lot of offices and a lot of apartment complexes.鈥? Binnie welcomed the store. 鈥淲e鈥檙e delighted and anything that improves downtown Manchester and the Elm Street area we鈥檙e all in favor of,鈥?Binnie said. Binnie said he hopes to announce a retail tenant or two within the next few months at his 875 Elm St. building. His 91 apartments there 鈥渁re close to 80 percent occupancy,鈥?he said. Nyaupane said he plans to use close to 5,000 square feet on the first floor 鈥?compared to 6,000 at the Webster Street store. Nyaupane said he will need a couple of months to get the space ready, including bringing in shelving, coolers and the food itself. He financed most of the purchase with loans from Primary Bank, the U.S. Small Business Administration and the Capital Regional Development Council, a nonprofit that helps provide loans. 鈥淲e鈥檙e an enhancement lender,鈥?said the council鈥檚 executive director, Stephen Heavener. The council supplies loans for deals 鈥渢hat might not get done鈥?otherwise. The council provides about $5 million in loans yearly to 25 to 30 businesses and developers in an area stretching from Claremont to Manchester, he said. Nyaupane said he had been talking with the property owner for about a year. City records showed the CVS property assessed at $550,200 and previously owned by a trust. Nyaupane and his wife have owned Bunny鈥檚 Superette for more than seven years. 鈥淭his is more like a grocery store,鈥?he said. 鈥淭hat would be more like a convenience store.鈥?/description> en-us $date CRDC Provides Financing for Concord Craft Brewing Company, LLC http://www.lianaishouce.cn/news.html?news_id=111&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 After three decades of home brewing beer as a hobby at home, Dennis Molnar and his wife, Beth Mayland decided to open their own craft brewery in Concord, N.H. "On our travels we always find a local brewery to try," said Dennis, owner of Concord Craft Brewing Company, LLC. "Each brewery is interesting and different and one day we realized that downtown Concord needed its own microbrewery. That's when we decided to take the passion we have for craft brewing and develop a business plan." What came out of that business plan was a labor of love, Concord Craft Brewing Company, LLC. "Once we decided to move forward with opening the brewery we decided to do it together," said Beth Mayland. Beth and Dennis shifted their successful careers from healthcare and pharmaceuticals and Beth found herself enrolled in beer school through the American Brewers Guild. There she learned not only the craft of large scale brewing, but also the business of owning a brewery and how to produce beer commercially. "We learned about CRDC through the SBA who came in and spoke to us during one of the business classes at beer school," said Beth. "We approached CRDC and Merrimack County Savings Bank for start-up financing to help us cover the purchase of the brewing equipment and improvements to the space we are leasing in downtown Concord," said Dennis. "We really wanted to take this existing space, which was once a furniture consignment store, and make it this really cool space, that people could come in and sample and buy our beer, taking home growlers, cans or bottles." "Dennis has been an extremely cooperative customer," said Liz Sweeney, CRDC Loan Officer. "When a customer has a handle on their finances and can easily produce the required documents in a timely manner, the process is that much quicker and seamless. Between myself and Merrimack County Savings Bank, we were able to pull a financing package together pretty quickly for Dennis and Beth." "We knew we were in great hands with CRDC and Merrimack County Savings Bank which allowed us to focus on our business. Head Brewer, Doug Bogle, who started his brewing career in California, has joined us. We hired our lead sales person, who brings our beer samples to restaurants and bars across the state. We are on tap in 22 area restaurants and proudly 13 of those places are right here in Concord." Concord Craft Brewery, LLC located at 117 Storrs Street is divided into three sections; the brewing area, retail and tasting bar. 聽 You can enjoy a taste of their brew during tasting hours which are Wednesday and Thursday from 4:00pm-6:00pm, Friday 4:00pm-7:00pm and Saturday from 2:00pm-7:00pm. 聽 Photo Caption: Dennis Molnar, Owner Concord Craft Brewery with Liz Sweeney, CRDC Loan Officer, Beth Mayland, Owner, Concord Craft Brewery and Doug Bogle, Head Brewer, Concord Craft Brewery. 聽 en-us $date CRDC Finances Inn in NH's Lakes Region http://www.lianaishouce.cn/news.html?news_id=110&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Ragineeben 鈥淩agi鈥?Patel along with her husband Mahendra 鈥淢ike鈥?Patel recently purchased the Landmark Inn in downtown Laconia, N.H. 鈥淪ometimes when you know, you just know,鈥?said Ragi, 鈥渨e are very excited to own this property.鈥? Both are no strangers to the hospitality industry, owning and operating three other hotels for more than a decade including two in Vermont and one not far from the Landmark Inn - the EconoLodge Inn & Suites in Tilton, N.H. 鈥淲e would drive to Laconia for dinner and pass by the Landmark,鈥?said Ragi. 鈥淲e just knew we wanted to own this hotel.鈥? 鈥淭he 104 room hotel was enticing to me not only because of its proximity to the EconoLodge Inn & Suites but because of its potential,鈥?said Mike Patel, Landmark Inn owner. 鈥淲e are enhancing the property for our guests with room renovations and other amenities.鈥? CRDC鈥檚 Jennifer Boulanger along with Joe Conway, VP. Sr. Commercial Lending Officer at Sugar River Bank structured an SBA 504 Loan for the Patels. 鈥淭here were a few challenges along the way,鈥?said Jenifer Boulanger, CRDC Loan Officer. 鈥淛oe and I worked through them and provided the Patels and the sellers with financing that worked for everyone.鈥? 鈥淚鈥檝e worked with the Patels and their other hotel investments for more than 10 years,鈥?said Joe Conway, VP Sr. Commercial Lender, Sugar River Bank. 鈥淐RDC鈥檚 expertise with the SBA 504 Loan Program made all the difference in getting this deal done.鈥? Photo Caption: (L-R) CRDC's Jennifer Boulanger with Ragi and Mike Patel, and Joe Conway of Sugar River Bank. en-us $date CRDC Helps Local Chef Realize His Dream of Ownership http://www.lianaishouce.cn/news.html?news_id=109&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Say the name, Corey Fletcher around the restaurant industry in the Capital Region and many automatically think of his reputation for creating outstanding cuisine in the kitchen. Most recently, the former chef at Granite Restaurant & Bar, Corey has longed for a kitchen and restaurant to call his own. Today 鈥?he can. With the financial assistance of CRDC and Franklin Savings Bank, Corey purchased the equipment, furniture and fixtures of Sunny鈥檚 Table, a restaurant that closed at 11 Depot Street in Concord. Corey renegotiated the lease in the same location and just opened the doors to Revival Kitchen & Bar, a 70-seat restaurant described as 鈥榗asual upscale atmosphere鈥?with a farm to table focus. 鈥淚鈥檝e always wanted to own my own restaurant,鈥?said Corey Fletcher, owner Revival Kitchen & Bar. 鈥淚 can pull a menu together pretty quickly, but I wasn鈥檛 sure how to pull everything together from a financing aspect. It was my SCORE mentor that helped introduce me to CRDC and Franklin Savings Bank, and from there everything really came to life.鈥?SCORE is a nonprofit organization dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. 鈥淐RDC was called in very early in the financing process,鈥?said Jennifer Boulanger, CRDC Loan Officer. 鈥淲orking with Franklin Savings Bank, we put together a financing package that would really work for Corey and allow him to not only finance the purchase of the equipment but give him the financial flexibility to renovate and create his vision for a new urban dining experience in Concord.鈥? 鈥淥nce we got started, the process was seamless between CRDC and Franklin Savings Bank,鈥?said Corey Fletcher, 鈥淚t was obvious that CRDC and the Bank had worked together before. They communicated well between each other and with me. It was a quick loan process 鈥?I think I closed on the loan within a month of first approaching both CRDC and Franklin Savings Bank.鈥? Revival Kitchen & Bar is now open in downtown Concord and offers farm to table cuisine. CRDC's Loan Officer Jennifer Boulanger with Corey Fletcher, Owner & Chef, Revival Restaurant en-us $date CRDC Presents Two Awards at Annual Banking Celebration http://www.lianaishouce.cn/news.html?news_id=106&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce that two awards were presented at its Annual Banker Celebration recently held at the Audubon Society in Concord. The first award recognized Primary Bank as CRDC鈥檚 Bank of the Year. The award according to CRDC Executive Director, Stephen Heavener is based on highest dollar volume of lending of loans referred to CRDC in the fiscal year ending September 30. 鈥淐RDC is a non-profit development corporation, and relies heavily on our relationships within the banking industry to achieve our mission,鈥?says Heavener. 鈥淧rimary Bank in its first year in operation has proven its vitality in the marketplace. We work closely with many New Hampshire banks, but clearly Primary Bank has been a lead supporter of our work this fiscal year and we recognize their support through this award and congratulate them on a successful first year of operation.鈥? Bill Stone, Primary Bank President and CEO applauded CRDC for its continued mission-driven focus and their assistance with gap financing, 鈥淐RDC has been an integral part of Primary Bank鈥檚 success this first year in operation. Their programs have helped our customers with some of that gap funding needed to reach their business goals. CRDC is a true partner for Primary Bank, and we appreciate the work they do for our customers.鈥? CRDC's Stephen Heavener (center) presents Bill Stone, President & CEO of Primary Bank (right) and John Mercier, Executive Vice President, Senior Loan Officer at Primary Bank with CRDC's 2016 Bank of the Year Award. CRDC also celebrated the dedication and support of Joe Conway, Vice President of Commercial Lending at Sugar River Bank as the 2016 Commercial Lender of the Year. The award is solely based on the dollar volume produced together by a commercial lender and CRDC. 鈥淛oe deserves this award because of his continued commitment to his banking customers. He introduces our financial options such as our SBA 504 Lending or other financing products to his customers,鈥?says Heavener. 鈥淛oe is a direct link to CRDC鈥檚 financial success this year and we applaud him for his strong commitment to not only us, but ultimately to his banking customers.鈥? Conway is Vice President of Commercial Lending at Sugar River Bank. He works closely with CRDC鈥檚 Senior Loan Officer Elizabeth Sweeney and CRDC Loan Officer, Jennifer Boulanger. Joe has more than two decades of commercial lending experience. He works with both large and small businesses. CRDC's Jennifer Boulanger with Joe Conway, Vice President of Commercial Lending at Sugar River Bank and CRDC's 2016 Commercial Lender of the Year. en-us $date CRDC Featured in Union Leader: Nonprofit helps get the deal done http://www.lianaishouce.cn/news.html?news_id=105&module_params[name]=news&module_params[mode]=default&module_params[action]=detail UNION LEADER - SUNDAY, NOVEMBER 6, 2016 Mike Cote's Business Editor's Notebook: Nonprofit helps get the deal done By MIKE COTE 聽 THE FIRST floor of the new Flats at Hanover features a cafe and office space, including one unit occupied by the nonprofit that helped finance the renovation of the 121-year-old building into 32 small apartments. For the Capitol Regional Development Council, having a Queen City office makes sense. The Manchester/Bedford area accounted for nearly $2.9 million of the loan funding the nonprofit disbursed last year, about 60 percent of its total lending. The deals represented seven of the council's 27 projects for the fiscal year that ended in September.It's also convenient for CRDC Executive Director Stephen Heavener, who lives in Bedford and finds himself spending more time in Manchester these days. "We've started to do more and more lending out here because this is where the market is," Heavener said recently at the Queen City office he's adorned with abstract art. The CRDC board, which remains committed to its Concord-area base, agreed to rent the space for a year, he said. CRDC's recent projects include New Morning Schools in Bedford and North End Montessori School in Manchester. Two years ago, it helped finance the renovation of GYK Antler's headquarters as part of the marketing and advertising company's deal to purchase the former R.G. Sullivan cigar factory building on Canal Street. The CRDC steps in to help fill funding gaps in deals that otherwise might not get done. Businesses such as hotels, restaurants or retail stores - low-risk ventures that make up the backbone of New Hampshire business, Heavener says - want to buy a building but cannot qualify for the entire loan amount. Banks turn to the CRDC to kick in $200,000 or $300,000, generally about 10 percent of the overall financing. Most of the CRDC's work is in Sullivan County, Merrimack County and eight communities in Hillsborough County, including Goffstown, Manchester, Bedford, New Boston and Amherst. Its mission is to invest in projects that create or retain jobs and enhance the property tax base. The CRDC secures grants and loan funds from the Small Business Administration, the U.S. Department of Agriculture and other federal sources. It recently found itself needing to increase its investments from its own pool of money. "A couple of years ago my board looked at our balance sheet and said we have too much cash," Heavener said. "We have an endowment that we need to maintain, but we also had a million dollars in what we call free cash. It wasn't program money ... It's our cash that we've earned over 60 years. And the board said we need to deploy that money to mission work." So the CRDC started being a bit more flexible as it looked for deals, Heavener said. "Interestingly enough in the last year we've deployed money into three residential projects," he said. "They all have commercial components, but the majority of this asset we're sitting in right now is a residential building: 32 units and five offices and a cafe." The Flats at Hanover was previously known as the Farnum Center and was owned by Easter Seals, which ran a drug treatment center there before relocating it to Queen City Avenue a couple of years ago. The five-story brick building - built in 1895 originally as an apartment complex - sat vacant for a couple of years before the Elm Groves Companies bought it for $225,000. It financed the multimillion dollar renovation of the building primarily through Franklin Savings Bank. The CRDC, which usually carries the second mortgage on the deals it makes, covered nearly $300,000. "It was the first time we had ever done a majority residential deal, "Heavener said. "It was a dilapidated building in an up and coming part of the town, as the development moves eastward on Hanover Street. It's a great opportunity here. It increases the tax base dramatically with this building ... It brings young people to this part of town." Heavener, 62, has spent most of his career in economic development, which has included stints in Vermont, Maine and Keene. He joined the CRDC nine years ago, returning to New England after working in Virginia and Wyoming. "When I was hired in '07 I told the board I want this to be my last job," Heavener said. "I'll probably work another eight to 10 years just because I love what I do. We have so many touches with companies. But for our involvement many of the projects don't get done." Heavener considers them little victories. "It's not a giant number, but we have 150 borrowers in our loan portfolio, about $40 million that has gone out. That's 150 companies that we've touched and helped grow. With the bank, of course. The bank is always involved." In 2015, when the CRDC only made nine loans, the banks weren't calling all that much. "All the commercial banks in this market all have so much cash that they haven't brought us in on a lot of deals so the deals that they do bring us in on are more challenged," Heavener said. "Because if you can do a 75 percent loan, you want to book it in your portfolio. The interest spread right now is so low in banks that they're barely covering their costs because it's so competitive." The CRDC had a busy 2016, and activity has been spiking this fall, with five applications under review right now, more than double what it handled each month last year. While it's too early to call that a trend, Heavener said, it usually means banks are hedging their bets. "There is a strong demand for our product, which means lenders are being more cautious," he said. "They're starting to pull back a little. I think some of the terms are going to be a little more challenging for the borrowers. We're all hoping the Federal Reserve raises rates in December. PHOTO CAPTION: CRDC Executive Director talks with Union Leader Business Editor, Mike Cote from CRDC's new Manchester Office located in the Flats on Hanover Street. 聽 en-us $date CRDC Closed and Funded Loans for Fiscal Year 2016 http://www.lianaishouce.cn/news.html?news_id=104&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC collaborates with multiple banks to facilitate the lending process for New Hampshire companies looking to expand their business through real estate purchases, new equipment or the purchase of a new business. 聽 We thank our lending partners for our successful year where we closed and funded 27 loans for 21 distinct projects totaling more than $4,987,700. 聽 聽 聽 聽 聽 聽 en-us $date CRDC Assists in the Financing of New Manchester Mixed-Use Building, http://www.lianaishouce.cn/news.html?news_id=103&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Elm Grove Companies has turned a building once used for drug and alcohol rehabilitation into a 32-unit mini-flat style apartments, a first of its kind in New Hampshire. With financing assistance from CRDC, the Elm Grove Companies management team comprised of; Newton Kershaw, David Schleyer, Chris Schlyer, Joshua Hamel and Matt Menning, transformed the Farnum Center in downtown Manchester into one of Manchester's sought after places to live. 聽 Construction for the Flats at Hanover Commons is nearing completion and the majority of the 32 micro units are rented with some residents already scheduling their move-in for the next couple of days according to Chris Schleyer. "We did extensive market research and feel the area's demographics played a huge part in the design and build," added David Schleyer. 聽 "When we look at a project to finance, we look at the potential economic impact it can make in that community," said Stephen Heavener, CRDC Executive Director. "This project fits the need for a growing demographic plus it was backed by thorough research which helped support this concept which you see in more urban locations." 聽 "Elm Grove Companies has extensive experience in taking distressed buildings and renovating them into profitable real estate entities," said Jennifer Boulanger, CRDC Loan Officer. "The financing came together pretty quickly; in which CRDC provided a direct loan for $275,000." 聽 "CRDC is a valuable asset to business owners like us," said Newton Kershaw, Elm Grove Companies. "The funding through CRDC for the real estate allowed us the leverage to be able to further continue construction financing through one of their banking partners, Franklin Savings Bank. 聽 In addition to residential living, the Flats at Hanover Commons offers commercial office space, a caf茅 and a courtyard. Amenities include; a gym, a community lounge, common area Wi-fi and rooftop solar. The building was listed in the Manchester Register in 1916 as "The Flats". 聽 Heavener added that CRDC will be leasing commercial office space as a satellite location to better respond to lending opportunities in the Manchester market, and to further its commitment to providing loan underwriting services to the Manchester Development Corporation. 聽 聽 (L-R) Standing in the lobby of the Flats at Hanover Commons is Stephen Heavener, CRDC Executive Director with Elm Grove Companies Management Team, Newton Kershaw, Chris Schleyer, Joshua Hamel, David Schleyer and Jennifer Boulanger, CRDC Loan Officer. en-us $date CRDC Provides Financing for Renovation and Expansion Project for Bedford School 聽 http://www.lianaishouce.cn/news.html?news_id=102&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is proud to announce it recently provided financing for the expansion and renovation project for New Morning Schools located at 23 Back River Road in Bedford, N.H. "We are excited to welcome back our students for the fall semester now that all of our renovations and new construction are complete," said Linda Degler, Owner, New Morning Schools. "The new space allowed us to have a successful summer program for the first time which really has been my goal. The expanded space has allowed us to stay open year-round and provide full-time employment." 聽 CRDC partnered with Eastern Bank to provide financing for Degler. Using the combination of a SBA loan and USDA funding, CRDC's Jennifer Boulanger worked to develop a financing package that allowed Degler to renovate an existing part of the school while adding on 7,000 sq. feet of new space. 聽 "Linda was a dream to work with; super responsive and so very organized", CRDC's Boulanger said, "I should of known the whole process would go smoothly, Linda's ability to see the big picture and quickly ascertain the best course of action for her business made my job easy." 聽 "This really was a seamless project," said Degler, "from the financing with CRDC and Eastern Bank along with Sullivan Construction who completed our renovations. We started construction in July 2015 and completed the project in March 2016. Everyone involved really understood that school was still in session during the construction. Jennifer was a pleasure to work with. She took the time to explain everything to me. She also took the time to understand the inner workings of the school and how we operated. She just didn't read the balance sheets, and I appreciated that." 聽 In addition to now offering year-round educational programs, New Morning Schools operates after school programs in18 public schools in southern New Hampshire. 聽 (L-R) Keith Hudson, New Morning Schools Director of Summer Program, Jennifer Boulanger, CRDC Loan Officer, Linda Degler, New Morning Schools Owner, Brit Munstertiger, New Morning Schools New Business Development and Stephen Heavener, CRDC Executive Director stand in a portion of the renovated school. 聽 en-us $date Best Cities for Start-Ups http://www.lianaishouce.cn/news.html?news_id=100&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Entrepreneur Magazine released its 2016 Best Cities for Start-Ups. Livibility.com crunched the data. Some of the research included: number of business and employees between 2011-2015, unemployement rates, number of VC deals within 10 years, business tax rate, value of SBA and 7(a) loans and percentage of college educated locals. Click here to read the entire article. 聽 en-us $date CRDC's Executive Director, Stephen Heavener Featured in B & H Wealth Magazine's Monthly Newsletter http://www.lianaishouce.cn/news.html?news_id=98&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Meet Stephen Heavener: A Non-Traditional Banker. by Jaimie Blackman | Jun 1, 2016 | Succession Planning | You鈥檝e built a successful music retail business. You鈥檝e identified your successor. Worked hard mentoring her over the last decade. You鈥檙e finally ready to pull the trigger so you can have time to get the band back together and re-ignite your performance career. There鈥檚 only one problem; your traditional banker is coming up short to fund the amount your successor will need to come up with to ensure a successful retirement. Not an uncommon scenario. According to the SBA (Small Business Administration) web site, a Certified Development Company or CDC is a nonprofit corporation set up to contribute to the economic development of its community. CDCs are located nationwide and operate primarily in their state of incorporation (Area of Operation). CDCs work with SBA and private-sector lenders to provide financing to small businesses through the CDC/504 Loan Program, which provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. Along comes Stephen Heavener, (Left) Executive Director of Capital Regional Development Council, a Certified Development Company along with Joe Lacerda (center) owner of Manchester Music Mill and CRDC Loan Officer, Jennifer Boulanger. Although Joe wasn鈥檛 funding a succession plan, his bank did come up short on his expansion needs. In 2013 Lacerda obtained an SBA 504 loan through New Hampshire鈥檚 Capital Regional Development Council, and purchased a building on the same block that would meet all his needs and house both businesses, giving his customers everything they need under one roof. Even with the mid-year move, Joe doubled the previous year鈥檚 revenues, exceeding all projections. Stephen tells me that his program could also potentially be structured to help fund a succession planning requirement. Here鈥檚 an excerpt from my conversation with Stephen. JB- Thanks for taking the time to speak with me Stephen. Tell me why most small business owners are not familiar with your services? SH-We don鈥檛 market ourselves to the end user because I don鈥檛 want a thousand guys calling me for money because you have to be first vetted by the bank. So you can imagine, if the deal isn鈥檛 strong enough, I don鈥檛 want to take that call. I want the bank to do the original screening. JB- Is your program 100% government funding? SH- We have cobbled together a variety of products and resources from a bunch of different places so even though I鈥檓 a non-profit, some of my money I borrow from the Dept. of Agriculture because most of New Hampshire is rural. As a result, I can borrow money from the USDA for 30 years at 1%. Then I鈥檒l turn around and loan it for between 6- 7%. The CRDC loan officers establish the rate based on the risk of the loan request and each loan is unique to the circumstances. So I鈥檓 living on the interest. Some of the money may be housing and development money; some environmental protection agency money if we do some environmental cleanup. Some of my money is from SBA- we do a lot of with the Small Business Administration. 鈥?That鈥檚 how we did the deal with Manchester Music Mill. So depending on the size of the need, and where it鈥檚 located we decide which pot of money to use. Although most of the money is federal it is still my responsibility to get it right, because once I borrow the funds it鈥檚 my responsibility to make sure the loan is paid back. JB- How does your company get compensated? SH- We live on the interest and the fee- so no government agency is writing us a check; we are like a non-traditional bank. So if I鈥檓 borrowing money at 1% and loaning it at 6-7%, just like a bank, I live on the arbitrage. In addition we take a 1 or 2 point fee at closing. JB- Are there subjective factors involved in your decision or is it all about the numbers? SH- Yes, just like a bank. They have to have good character, you look at their history, you look at them in the eyes and you decide if this person will fulfill the terms of the agreement. JB- I know your reach is limited to New Hampshire. Where else can music retailers look in other parts of the country? SH- I suggest that you start with the state economic development organizations in your community, and ask them for a list of appropriate organizations. Your traditional banker, may also be able to help. JB- Thanks again. I鈥檓 frequently asked how key managers or family members will find the necessary funds to buy out the exiting owner. It may take some leg work on your part, but in the end reaching out to CDCs via your traditional banker may help get your finances in tune. Please note: BH Wealth Management is not affiliated with Capital Regional Development Council. 聽 聽 Written by Jaimie Blackman Jaimie Blackman is a Financial Advisor, and Certified Wealth Strategist廬 who helps his clients implement investment and insurance solutions which are aligned to their personal values. He is the creator of Sound Financial Decisions鈩?powered by MoneyCapsules廬, a Values-Based easy to learn system to help people organize and understand their financial life, necessary to make sound financial decisions Jaimie鈥檚 mission is to help people improve their relationship with money. As a financial literacy educator he has taught at New York University and has lectured at the 92nd Street Y, Marymount Manhattan College, and CUNY. en-us $date SBA Refinancing has Returned http://www.lianaishouce.cn/news.html?news_id=99&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The SBA 504 Refinancing Program has returned as a permanent option for 504 borrowers. The SBA will begin accepting applications on June 24th. The program is very similar to the temporary program that ended in 2012. Key Program Highlights: The commercial mortgage/deed of trust debt to be refinanced must be at least two years old. The loan (or loans - can be more than one eligible loan) being refinanced must not have any late payments in the previous 12 months and evidence of such must be presented. The subject property must be a minimum 51% owner occupied (at time of new application) and meet all other eligibility requirements of the SBA 504 program. For refinance-only projects, the maximum LTV is 90%. Cash-out refinancing is permitted if equity exists in the asset being financed to cover most eligible business operating expenses. Unfortunately, existing "government backed" loans, such as 504's, 7(a)'s or USDA loans, cannot be refinanced under this new program. Only conventionally financed commercial mortgages/deeds of trust are eligible. en-us $date CRDC Customers Recognized by SBA at Annual Awards Ceremony http://www.lianaishouce.cn/news.html?news_id=97&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Capital Regional Development Council (CRDC) is proud to announce that two of its customers were recently recognized by the New Hampshire Small Business Administration (SBA) Office. In celebration of Small Business Week, May 1 through May 7, the SBA along with the NH Bankers Association hosted is annual Small Business Awards Ceremony. More than 200 people attended the Award Ceremony held at the Manchester Country Club in Bedford, N.H. CRDC customer, Elie El-Chalfoun, owner and operator of Mega-X, a gas station and convenience store chain was named Small Business Person of the Year. CRDC was instrumental not only in nominating El-Chalfoun for the award, but more importantly for the financing of several of his gas stations. 鈥淚 want to thank CRDC Loan Officer, Jennifer Boulanger,鈥?said Elie El-Chalfoun during his award acceptance speech. 鈥淛ennifer has built a bridge of trust 鈥?this bridge is between me and other banks. Without trust this would have never happened. I am thankful to be surrounded by people who trust me.鈥? The SBA also recognized CRDC customers, Dean Milliard & John Duff, owners of NH School of Mechanical Trades LLC in the category of Veteran Owned Business. This was another nomination submitted by Boulanger who stated in her nomination; 鈥淭he school has seen consistent growth in creating a new educational opportunity in the State of NH supporting not only new job opportunities but working diligently to re-educate the unemployed to fill vacancies.鈥?As Veterans, Milliard and Duff both recognize the opportunities the trades can present to returning Veterans. Today their school is an approved school under the G.I Bill and has been approved as a provider under the Workforce Innovation and Opportunity Act. 鈥淲e are very pleased to join the SBA and the NH Bankers Association in recognizing our customers, Elie El-Chalfoun, Dean Milliard and John Duff,鈥?said Stephen Heavener, CRDC Executive Director. 鈥淎s a mission based organization our goal at CRDC is work with the bank and the customer to structure the best financing options that work for them. In both loans it made sense to utilize SBA products. For Mega-X, we deployed funds through the SBA 504 Loan Program, and we utilized the SBA鈥檚 Intermediary Lending Pilot Program (ILPP) for NH School of Mechanical Trades. We utilize both of these programs quite a bit throughout our loan portfolio.鈥? Photo Caption: John Udaloy, SVP Group Market Manager at Northway Bank, Cosette El-Chalfoun with her husband, Elie El-Chalfoun, owner, operator of Mega-X and the 2016 NH SBA Small Business Person of the Year Recipient, Jennifer Boulanger, CRDC Loan officer and NH Governor Maggie Hassan. Photo Caption: Greta Johansson, District Director at the U.S. Small Business Administration, Jennifer Boulanger, CRDC Loan Officer, with John Duff, owner, NH School of Mechanical Trades, LLC and 2016 Veteran Owned Business Award Recipient with Gina Millard, Office Manager a NH School of Mechanical Trades. en-us $date CRDC Assists with Financing for Concord's Flipz Gymnastics http://www.lianaishouce.cn/news.html?news_id=96&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 With over 50 years of combined gymnastics coaching experience, Dale and Robyn Grant know a thing or two about gymnastics. They also know what's needed in a building in order to operate a successful gymnastics gym; high ceilings, the right square footage and the right location. "We actually looked at this building 12 years ago, but at the time we wanted to lease and the owner wanted to sell; it wasn't the right time," said Dale Grant, Flipz Gymnastics owner. "Instead we opted to lease space on Hall Street in Concord, but as we continued to grow and need more space, I've kept my eye on this building. Over the last 10 years, I've watched as owner after owner couldn't make this space work." For the fourth time within a decade the 8,000 sf building on Chenell Drive went up for sale, Dale and Robyn both knew this time...was their time. "Robyn and I owned and operated two gymnastics gyms in Northern California for eleven years," said Dale. "I was familiar with Economic Development Councils having previously worked with them in California. I made the call to CRDC and together; Jennifer and I along with my bank, Bank of New Hampshire, we puzzled together a loan. Jennifer was great, very responsive and kept the entire process moving along." "In anticipation of the building going back on the market, Dale had been in to CRDC to discuss potential financing options," said CRDC Loan Officer Jennifer Boulanger. "He was then able to react quickly with an offer and together with Bank of New Hampshire we structured a financing package utilizing the SBA 504 loan program as well as some direct funds through CRDC's Revolving Loan Fund." 聽 (L-R)Robyn and Dale Grant with Jennifer Boulanger, CRDC Loan Officer In addition to the traditional gymnastics programs at Flipz Gymnastics, Dale created a Ninja Training program to capitalize on the growing fitness trend and the popularity of the "American Ninja Warrior" televised competitions. Creating this program was an easy expansion of services as Dale was able to utilize the gymnastics setting, equipment and knowledge to create the program. Enrollment in the program continues to grow and Flipz and their team of Ninja's recently participated and hosted their first Ninja competition. For more information visit www.flipzgymnastics.com 聽 en-us $date CRDC Hosts International Bankers from Oman http://www.lianaishouce.cn/news.html?news_id=95&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Capital Regional Development Council (CRDC) recently hosted a group of bankers through the World Affairs Program of New Hampshire. Executive Director, Stephen Heavener presented to representatives from the Oman Development Bank. His presentation included how CRDC and other economic development council鈥檚 assist banks with gap financing or other financing opportunities. The World Affairs Council of New Hampshire is one of more than 90 community organizations around the country that host visitors through the U.S. Department of State's Bureau of Educational and Cultural Affairs. This program brings approximately 4,000 foreign leaders and specialists to the United States for professional development programs. Participants in this program are leaders and decision-makers in their home countries; travel as individuals or as part of pre-arranged groups. The goal of the program is for the group to explore best practices related to the banking sector in marketing, training and small and medium enterprise loan programs. Oman Development Bank located in Oman, an Arabian country and borders United Arab Emirates, Saudi Arabia, and Yemen. Photo: CRDC Executive Director, Stephen Heavener (standing) with the team from Oman Development Bank and representatives from the World Affairs Program of New Hampshire. en-us $date CRDC Joins Sugar River Bank, the City of Concord and Merrimack County Savings Bank to Provide Financing for a Major Redevelopment in Downtown Concord http://www.lianaishouce.cn/news.html?news_id=94&module_params[name]=news&module_params[mode]=default&module_params[action]=detail With its partners, Capital Regional Development Council (CRDC) is proud to announce that financing is in place to restore a prominent downtown building, which dates back to 1870. After years of inattention, the building known as the Vegas Block, will soon be renovated, for first floor commercial usage, and the upstairs featuring residential units. The City of Concord鈥檚 public investment in the Downtown Complete Streets Project has again yielded significant private investment in the downtown. Soon, with the help of four financing participants, its prime contractor and its owner, downtown will see further improvement to its Main Street, with the recreation of this building as a mixed use building, with 20 residential units and 3 commercial units. The restoration of this building, to be known as Remi鈥檚 Block, has been the vision of the owner of the property, Remi Hinxhia, a well-known local businessman in Concord. Remi, his sister Theodhora and their family noted, 鈥淲e are delighted and proud that this day has finally come.鈥?He also noted that with hard work they own a part of historic downtown Concord, 鈥淲e are dedicated to making our part of downtown Concord better for all citizens now and for generations to come. We want to thank all of our team members, friends, and business colleagues that helped to put this project together. With the help of all my team and family the acquisition of the Vegas Block became reality. It was felt that the restoration of this historical building from its dilapidated state would add to the overall renovation of Concord鈥檚 downtown re-development. Now that the construction of Remi鈥檚 Block is a reality I am grateful for the work completed by all those who are participating in this project and look forward to its completion.鈥? The construction financing was unusual as it required the collaboration of four entities, with Mr. Hinxhia, to make the project work. Sugar River Bank took the lead in structuring a financing package with CRDC, the City of Concord Revolving Loan Fund Program and Merrimack County Savings Bank, in combination, to provide for the restoration costs. This sort of financing structure is an example of economic development, which often requires a blending of several financing sources, to make a project feasible. 鈥淪ugar River Bank takes great pleasure and values the opportunity to have been able to join with our community partners to facilitate this project,鈥?said Joe Conway, Vice President, Commercial Lending, of Sugar River Bank. 鈥淲e recognize the importance of renovating this historic building and the benefits it will provide to the City鈥檚 long term strategic plan and vision for Main Street. The Bank feels that the teamwork demonstrated by our colleagues is the appropriate process, to achieve the shared goal of making a challenging project possible.鈥? 鈥淐RDC is particularly pleased with the project,鈥?said Stephen Heavener, CRDC Executive Director. 鈥淎s a mission based non-profit organization, CRDC was able to provide gap financing into Remi鈥檚 Block, which will result in further revitalization in the heart of Downtown, along with the potential of economic benefits to the community. Liz Sweeney, CRDC鈥檚 loan officer worked diligently with the borrower and the other financing entities. This is a perfect example of how CRDC can provide gap financing and assist in getting a deal to work.鈥? Local contractor, Cobb Hill Construction is overseeing construction. 鈥淐obb Hill Construction is delighted to have been chosen for this project鈥? said Jerry Kingwill, Cobb Hill鈥檚 President. 鈥淲e have a long history of working with the City of Concord, local property owners and financial institutions to renovate and restore historic buildings. We are particularly proud of our work on Main Street, where we have completed several award-winning projects. Having the opportunity to be part of a team that has the vision to revitalize one of Concord's oldest buildings, is the kind of challenge Cobb Hill sees as the right thing to do for the community. The structure is in tough shape, but when completed, the work will breathe new life into the building for many years to come.鈥? Restoration of older buildings often requires the collective efforts of a number of financing participants, who cooperate toward the shared goal of making the project possible. 鈥淩edevelopment of the Remi Block will remove a long-term prominent blight and foster creation of additional market rate housing, both of which are critically important to the vitality of our downtown鈥?said Tom Aspell, City Manager. 鈥淭he City is proud to partner with CRDC, Sugar River Bank, and Merrimack County Savings Bank on a financing package to get this project done.鈥?In addition to being part of the financing package, the City provided special property tax incentives, valued at more than $300,000, to help make the project viable. Construction is anticipated to be completed in November 2016. en-us $date Overview of Top 20 U.S. Business Investments by Site Selection Group http://www.lianaishouce.cn/news.html?news_id=93&module_params[name]=news&module_params[mode]=default&module_params[action]=detail From the desk of Stephen Heavener, CRDC Executive Director: The attached report, prepared by the Site Selection Group, documents the top 20 (by projected jobs to be created) U.S. business investments in 2015. Fifteen of the top twenty are located in the south or southwest. The last four pages of the attached highlight the top 25 Incentive Deals of 2015. Only six projects overlap, a surprising small number. This may support the theory that incentives alone do not land a deal, but just sweeten the pot for decisions already made using the standard decision points such as labor availability, labor cost, accessibility, etc鈥?(see top of second page for key location decision criteria). Overall, the report is a good summary of the types of companies making impactful investments, where the investments are occurring, the value of incentives offered and some of the challenges associated with measuring economic impact. Click here to read the full report en-us $date Manufacturers' Agenda for Economic Growth http://www.lianaishouce.cn/news.html?news_id=92&module_params[name]=news&module_params[mode]=default&module_params[action]=detail MANUFACTURERS鈥?AGENDA FOR ECONOMIC GROWTH AND AMERICAN EXCEPTIONALISM The National Association of Manufacturers recently released a policy paper in New Hampshire on the first stop of a nationwide tour. It is an interesting read about the continued importance of manufacturing to the US economy. Click here to read the paper en-us $date CRDC Assists Small Business Owner's Dream of Ownership http://www.lianaishouce.cn/news.html?news_id=90&module_params[name]=news&module_params[mode]=default&module_params[action]=detail "CRDC made something work for me," said Pam Sullivan, owner and creative director of Sullivan Creative, a marketing & design agency. "I never thought I could own my own office space especially after I've been leasing offices for the last 28 years. I've been in the Boston market, then moved my office to New Hampshire, and now my permanent address is here in downtown Concord." "After renting for some years at Hills Court, Pam has now purchased a larger existing condominium unit in the same complex," said Liz Sweeney, CRDC Loan Officer. "To finalize the purchase, CRDC joined with Merrimack County Savings Bank, to provide acquisition financing, through the Opportunity Corridor Revolving Loan Fund (OCRLF). The OCRLF has been established to support businesses in the downtown core of Concord. The fund is targeted on the redevelopment of properties that will also result in the revitalization of downtown Concord. "CRDC, especially Liz made the entire process so easy," said Pam. "Liz worked with my bank to put together a deal that really fit for me, and for my business. I'm really proud to be part of downtown Concord's revitalization too." "Pam did a beautiful job renovating and making it a creative space for her entire team," added Liz. "Pam and her business are the perfect fit for downtown Concord." Caption: CRDC's Liz Sweeney with Pam Sullivan at Sullivan Creative's new home in downtown Concord. en-us $date CRDC Hosts Annual Meeting http://www.lianaishouce.cn/news.html?news_id=91&module_params[name]=news&module_params[mode]=default&module_params[action]=detail On Tuesday, December 1st, CRDC hosted its Annual Meeting at the Audubon Society in Concord. It was a wonderful evening networking with our business and banking partners, and our Board of Directors. We also celebrated the hard work and dedication of Alan Kanegsberg for his twenty-eight year commitment serving as a director on our Board. In honor of his service, CRDC donated $500 to the charity of his choice, the Rotary Foundation Polio Plus Fund which supports the Rotary's work to achieve a polio-free world. Check out our Facebook page to view more photos (L-R) Peter Thompson, President of CRDC's Board of Directors with Alan Kanegsberg and Stephen Heavener, CRDC's Executive Director. CRDC honored Alan's commitment to the CRDC Board by donating $500 in his name to the charity of his choice. (L-R) Peter Mennis, of NBT Bank with CRDC's Liz Sweeney, SBA District Director, Greta Johansson and Steve Savoy of Grappone Automotive Group & CRDC Board Treasurer. (L-R) Claudia Walker of Merrimack County Savings Bank with Brian Lavoie of Eastern Bank, Brad Hosmer, CRDC Board of Directors Past President & CRDC's Kim Imbriglio. CRDC's Jennifer Boulanger with CRDC's Vice President of the Board, Stephen Lawrence of Camden National Bank. en-us $date CRDC Finances New Montessori Learning Center in Manchester http://www.lianaishouce.cn/news.html?news_id=89&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 CRDC recently provided financing to the owners of North End Montessori in Manchester, N.H. Teaming up with Merrimack County Savings Bank, CRDC financed an SBA 504 loan for the purchase of a building in the north end of Manchester across the street from the Currier Museum of Art. At a recent ribbon cutting event, owner, Susan Bradley thanked CRDC and Merrimack County Savings Bank for their combined commitment to the project, "we are very thankful to our lenders, CRDC and Merrimack County Savings Bank, for their continued commitment on seeing our vision and our dream of transforming this building into a leading Montessori learning center." "Susan made it easy to support the financing request," said CRDC Loan Officer, Jennifer Boulanger, "she presented a detailed business plan along with financial projections which clearly outlined the need for diverse early childhood education." Fifteen new jobs are projected to be created from the financing and opening of this new learning center. Photo Caption: (L-R) CRDC Loan Officer, Jennifer Boulanger with North End Montessori Owner, Susan Bradley, and Merrimack County Savings Bank VP of Commercial Lending, Tom Dustin. Photo Caption: More than 50 people attending the ribbon cutting ceremony celebrating the opening of North End Montessori School. en-us $date CRDC Provides Gap Financing to Manchester Restaurant Owner http://www.lianaishouce.cn/news.html?news_id=88&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC approved financing to upgrade and refurbish one of Manchester's longest running franchises. The Second Street Dairy Queen is currently closed while a major renovation is underway to upgrade to a modern look and convert to a full food and beverage menu offering some table service. 聽 Manchester Dairy Queen Owner, Dave Dion stands in front of his Second Street location currently under renovation. "Dairy Queen came out with a new imaging plan to retrofit all the Dairy Queens across the country," said Dave Dion, Dairy Queen owner and operator. "The new layout will offer a comfy dining experience and allows us to enhance our menu with more offerings. I wasn't forced to do the modification, but I felt the time was right and it made sense financially." The upgrade is projected to cost $1.1million which doesn't include the cost of new kitchen equipment required for the enhanced dining experience. "To make this deal work, I needed working capital," said Dion. "That's when CRDC was referred to me. CRDC offered a gap financing solution and worked quickly with the Bank to structure the loan. They were easy to work with. It was a very easy process even the closing was easy." "CRDC was asked to step in when the borrower realized that the entire restaurant needed to close during renovations," said Jennifer Boulanger. "We provided financing for 10% of the total project costs to help the borrower save cash for working capital purposes during the renovation." Renovations are expected to wrap up in January 2016. en-us $date Fiscal Year 2016 IMPACTFUL SBA 504 FEE REDUCTIONS http://www.lianaishouce.cn/news.html?news_id=87&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Capital Regional Development Council, CRDC, is very pleased to announce that the SBA has reduced SBA 504 fees for FY 2016 starting today, October 1, 2015. What this means: a) The Upfront SBA Guarantee Fee has been eliminated. It was 50.0 basis points, it is now ZERO. This is the one-time fee included in the Administrative Costs added to the Net Debenture Proceeds at funding. This fee is calculated on the SBA portion of the loan. b) The Ongoing Annual SBA Guarantee Fee is reduced from 93.75 basis points per year to 91.4 basis points of the outstanding balance of the SBA loan. This reduction is ongoing through the term of the loan. The SBA 504 programs remains a very competitive source for end-user businesses seeking long-term, fixed rate financing, with as little as 10% down for up to 40 percent of the approved project costs, for their real estate and equipment needs. CRDC greatly appreciates its relationships with all of our banking and commercial real estate partners. en-us $date CRDC's Boulanger Receives Certification from the National Development Council http://www.lianaishouce.cn/news.html?news_id=86&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Jennifer Boulanger, CRDC Loan Officer recently received certification as a Economic Development Finance Professional (EDFP) from the National Development Council (NDC). Certification is a designation given to individuals who successfully complete an intensive economic development finance training series that is conducted by NDC. "This is an intense economic development program that we are very pleased Jennifer took the initiative to complete," said Stephen Heavener, CRDC Executive Director. "A certification from NDC provides Jennifer with further extensive knowledge to help our banking partners and customers with complex gap financing and economic development projects." 聽 en-us $date CRDC Provides Financing for Farm to Table Restaurant in NH's White Mountains http://www.lianaishouce.cn/news.html?news_id=85&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Boasting a Southwestern inspired menu, owner Charles (Bud) Selmi is the proud new owner of Margarita Grill located in Glenn, NH. He attributes the recent purchase of the restaurant as "the right thing to do at the right time." Working as the Director of Food and Beverage at Storyland, he supplemented the off-season with a General Manager position at Margarita Grill. He became General Manager at the restaurant in September 2014 and by December he decided to purchase the restaurant which had been on the market for nearly a decade. "The entire process of purchasing the restaurant seemed really daunting to me," said Bud, owner, Margarita Grill. "It can be very difficult to work through the closing process, but Jennifer Boulanger at CRDC was very encouraging and supportive. She was very thorough and detail orientated which made the process so much easier." "Bud is a talented chef and restaurateur and Margarita Grill is an iconic local restaurant," said Jennifer Boulanger, CRDC Loan Officer. "It was a pleasure to work together with Lise Howson, Vice President Granite Bank, Bud and his real estate agent David Cianciolo, Badger Realty, to support the purchase of Margarita Grill through the SBA 504 loan program." "Going the SBA route made sense for us financially," said Bud. "We are focused on the farm to table concept working with local providers who only supply organic products. That's what has been really driving the business." 聽 en-us $date CRDC Finances New Construction in Epsom, NH http://www.lianaishouce.cn/news.html?news_id=83&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 聽 Beyond a parking lot of shiny used trucks and cars for sale, second-generation owner, Tim Emery, President of Tim's Truck Capital & Auto Sales Inc. admires where his new 14-bay service facility will be located. 聽 "Our new service center will allow us to put more inventory out quicker," said Tim. "Our customers are loyal. We receive a lot of repeat business because we truly take care of our customers from point of sale through the life of the vehicle, and that includes maintenance and repair. We'll be able to also service the general public better. We've already hired a few new service employees and plan to add a couple more once we are fully operational in our new facility." 聽 "Tim's Truck Capital is one of the largest dealerships for used trucks in New Hampshire, " said Jennifer Boulanger, CRDC Loan Officer. "The business really took off five years ago when Tim purchased it from his father, Tim Emery Sr. He focused on putting inventory online, which expanded his customer base to a 100 mile radius. The new service facility will really bring the company to the next level in terms of sales." 聽 "I worked with CRDC previously when I bought the company from my father," said Tim. "It really was an easy decision to work with CRDC again. They are thorough, responsive, and Jennifer really made the process smooth from start to finish." 聽 "This was an SBA 504 loan," said Jennifer. "We worked with Bank of New England, and once we got approvals it came together pretty quickly." 聽 Tim's Truck Capital is located at the Epsom, NH traffic circle. The new service facility is scheduled to open in August. 聽 Caption: CRDC Loan Officer, Jennifer Boulanger with Tim Emery, President, Tim's Truck Capital & Auto Sales Inc. 聽 en-us $date CRDC Sponsors SBA Annual Awards Ceremony http://www.lianaishouce.cn/news.html?news_id=84&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Congratulations to all of this year's SBA Award Recipients. It was a great evening of recognition and networking. CRDC is a proud sponsor of the annual event which honors and celebrates NH entrepreneurs for their hard work and dedication to their company and employees. Read more about the award winners. (L-R) CRDC Loan Officers Liz Sweeney & Jennifer Boulanger with Wendy Keeler, Fairway Real Estate, LLC, Brenda Litchfield, Concord Commercial Real Estate and Kim Imbriglio of CRDC en-us $date CRDC Provides Gap Financing for Purchase of Historic Mill Building in Manchester http://www.lianaishouce.cn/news.html?news_id=82&module_params[name]=news&module_params[mode]=default&module_params[action]=detail For Travis York, President and CEO of GYK Antler, finding the right building to relocate his fast growing marketing and advertising agency had to have a story. What he didn't expect was to find a building that began his own family story some 55 years earlier. 聽 With the help of financing from CRDC and Provident Bank, Travis along with his four brothers purchased the R.G. Sullivan 7-20-4 Cigar Factory Building on Canal Street in Manchester. The building was once owned by their grandfather and other family members from 1963 to 1980 when it was Indian Head Shoe Company, a successful manufacturer of athletic shoes. The building was most recently owned by Brady Sullivan. 聽 "It was important to us to have a building that was iconic," said Travis. "We are very thankful to both CRDC and Provident Bank for getting the deal done because it was complicated. We were never once treated like it was just a financial transaction. There is a relationship here, and that means a lot to me." 聽 "In order to get the deal closed, some gap financing was needed, and that's when CRDC came in" said Jennifer Boulanger, CRDC Loan Officer. "CRDC provided a direct loan which helped fund renovations. As with many deals, our role is to provide that gap financing that may be needed to help fund and close the loan." 聽 "Travis has beautifully renovated the building which is not only rich in his own family history but that of historical significance as a mill building that once manufactured cigars in the early 1900's," said Stephen Heavener, CRDC Executive Director. "The new GYK Antler office is truly a modern day workspace that boasts a creative environment with countless family memories woven in. We are pleased that we were able to provide Travis with gap financing to bring this historic building back into his family." 聽 Photo Caption: Jennifer Boulanger, CRDC Loan Officer with Travis York, President & CEO of GYK Antler and Stephen Heavener, CRDC Executive Director. 聽 en-us $date CRDC Brownfields Update: City of Concord, Tannery Cleanup http://www.lianaishouce.cn/news.html?news_id=81&module_params[name]=news&module_params[mode]=default&module_params[action]=detail New Hampshire Union Leader 04/19/2015 聽 Who said they aren鈥檛 making any more land? Tannery site cleanup: It鈥檚 taken money and time, but the site of a former mill is slowly being cleaned up and put back on the market for development. 聽 By MICHAEL COUSINEAU 聽 CONCORD 鈥?On the site that once housed the state鈥檚 largest stone mill, city leaders have spent nearly $5 million to clean up a polluted former textile and tannery site in an effort to generate jobs and city tax dollars. 聽 It鈥檚 a case of spend a little to make a little ... but first a history lesson. 聽 Rewind to the mid-19th century when a textile mill, known later as the New Hampshire Spinning Mills, opened and over the years produced high-quality yarns and cotton cloth from its hydro-powered mill building constructed from granite. 聽 In its heyday as a textile producer, the 370-foot mill maintained 175 workers, nearly 40 looms and 20,000 spindles. 聽 But the Great Depression hastened the textile mill鈥檚 demise in the 1930s. The following decade, a tannery opened there, its 200 workers fulfilling defense contracts tied to World War II. 聽 The Allied Leather Co., Penacook鈥檚 second biggest employer, shut the mill in 1987, idling about 300 workers, half as many compared to its high point. In 2001, the city condemned the site and has been working for years to clean up the cancer-causing pollutants on about six acres. 聽 City leaders had hoped to preserve the Penacook Mill, but a partial collapse on Halloween in 2007 led to its $300,000 demolition. 聽 The city got two acres back on the tax rolls in 2011 when it sold the cleaned-up property to a Vermont developer who built a medical building it rents for a doctors offices and a medical lab, produc 聽 ing about $60,000 a year in city property taxes. 聽 Ready to market 聽 Now, after spending nearly $5 million of mainly city, state and federal funds 鈥?including $400,000 in stimulus money, the city is almost ready to market another 2.5 to 3 acres to developers. 聽 鈥淭he overarching goal is to take a blighted contaminated piece of property, which is essentially worthless, and turn it back on to the tax rolls,鈥?said Matthew Walsh, Concord鈥檚 director of redevelopment, downtown services and special projects. 聽 The city is reserving another 1.5 acres or so for a riverfront park along the Contoocook River, including a half-acre adjoining piece that was not part of the tannery site that the city bought and cleaned up. 聽 鈥淚 honestly think it鈥檚 about time,鈥?said Wayne Morse, who works at Fox Ace Hardware around the corner and has lived in Penacook since 1984. 聽 He would like to see a small supermarket but isn鈥檛 optimistic. He welcomed the idea of a public park. 聽 Morse said he thinks the $5 million was money well spent. 聽 鈥淥h, yeah, from a safety standpoint,鈥?he said. 聽 But it may take a few years to unlock the site鈥檚 potential. 聽 鈥淲e鈥檙e probably 2 1/2 years out from the site being fully developed and being 100 percent totally used,鈥?Walsh said. 聽 Walsh hopes the unused site will bring $100,000 to $160,000 in yearly property taxes to the city as well as stimulate more nearby development. 聽 This month, the city hired a real estate agency. 聽 鈥淲e鈥檙e also in the process of doing some conceptual site plans to show developers what we think the opportunities are for the property for redevelopment,鈥?he said. 聽 Blueprint for redevelopment 聽 Walsh said the Penacook project could be a model for other communities. 聽 鈥淵ou have to be creative in chasing down all the funding dollars out there to support that,鈥?he said. 聽 For the Penacook project, that meant 41 percent in federal money, 38 percent in city money, 13 percent of state money, 6 percent from the Capital Regional Development Council and 2 percent from insurance. 聽 Cleanup funds included nearly $1.4 million from the U.S. Department of Housing and Urban Development and $306,000 from the CRDC, which provides grants and loans for so-called brownfield sites, which are less hazardous than Superfund sites, using EPA funds as well. 聽 鈥淚t鈥檚 come a long way in the last five years,鈥?said Stephen Heavener, the council鈥檚 executive director. 鈥淚t was a real mess for a long time.鈥? 聽 Walsh said CRDC funds 鈥減layed a crucial role in helping the city get it done.鈥? 聽 Nearly 1,900 tons of soil were disposed off-site, including at the Turnkey Landfill in Rochester, ESMI in Loudon as well as in Vermont and Canada. 聽 Some contaminated soils were capped on site in locations that most likely will be used for parking after any redevelopment efforts, Walsh said. 聽 The state has identified 154 active brownfield sites that are in various states of cleanup as well as 91 sites already completed. 聽 鈥淎 brownfield site is defined simply as property where the expansion, redevelopment or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant,鈥?said James Martin, public information officer for the state Department of Environmental Services. 聽 The state also is home to 20 EPA Superfund sites. Only one, the Granite State Superfund site, in Londonderry, has ever been delisted. 鈥淎 Superfund site is considered among the worst contaminated sites that present the greatest risk to public health and welfare or to the environment and will require long-term clean up and management,鈥?Martin said. 聽 The CRDC has provided grants for projects in Hudson, Tilton, Richmond and Keene and still has about $600,000 left it can provide in loans to private industry involved with brownfield properties. 聽 Domenic Ciavarro, vice president of facilities for Concord Hospital, has no qualms about the site for Concord Hospital鈥檚 labdraw area and the Concord Hospital Medical Group鈥檚 Penacook Family Physicians, which was less than a quarter-mile away. 聽 鈥淲e wanted to stay in the village, and that site was available,鈥?he said. 鈥淲e鈥檙e hopeful someone will be a neighbor. 聽 Copyright 漏 2015 Union Leader Corporation. All rights reserved. 04/19/2015 en-us $date CRDC Customer Spotlight: Knoxland Equipment http://www.lianaishouce.cn/news.html?news_id=80&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The year 2010 will be a year Mike Jones, owner of Warner Equipment won't soon forget. "The economy crushed us," said Jones. "For several years leading up to 2010, we continued to see a decline in our sales, but 2010 was the year we virtually sold nothing." 聽 Jones is a second generation operator of the business, which sells and services farming, construction, and landscaping equipment. He now owns Warner Equipment, but does business as Knoxland Equipment, a well-known and respected company, where his father, Allan, started his employment in 1962 and later purchased. "This was my first job," said Mike, who, now the owner of the business, continues to work side by side with his Dad. 聽 After a devastating financial year in 2010, the company lost two of their three equipment manufacturers. "Our sales slowly started to rebound after about a year, but that wasn't good enough for two manufacturers," said Mike "The third manufacturer, Mahindra Equipment, really stood by us. However, they required us to obtain a full service floor plan in order to meet the minimum qualifications of their dealers. We found General Electric who agreed to finance the floor plan, but they required a partial letter of credit to reduce their risk. Our then current bank at the time couldn't help us, so that's when we reached out to CRDC. CRDC, Liz Sweeney, really listened to our story and understood our needs. She walked us through the process and got the loan approved." 聽 "Knoxland is a great company that hit a bumpy road like a lot of companies did in the down economy following 2008-2009," said Liz Sweeney CRDC Loan Officer. "We offered financing for the business after carefully vetting their financials and projections. Warner Equipment never touched the letter of credit, but it gave General Electric the security they needed, plus it gave Mike an opportunity to focus on rebuilding the company." 聽 Fast forward two years, and Mike Jones is now in a brand new building he built through the assistance of CRDC and Northway Bank. "If CRDC did not believe in us two years ago, we would not be the strong company we are today, we might not have even survived" said Jones. "We went from selling less than a handful of tractors in 2010, to selling close to a 100 last year. We couldn't be more thankful for the opportunity CRDC provided, especially because it came at a time when we needed it the most." 聽 Warner Equipment dba Knoxland Equipment moved into their new building on March 1, 2015. 聽 聽 Photo Caption: Mike Jones inside his new showroom at Knoxland Equipment en-us $date CRDC Creates Financing Package for Local Business Owners to Purchase Building Reducing Overall Occupancy Costs http://www.lianaishouce.cn/news.html?news_id=79&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce a recent loan closed with business owners, Walter and Chris Chapin that allowed them to purchase the building they were leasing resulting in reducing their overall occupancy costs. 聽 CRDC is non-profit development corporation that provides a variety of economic development services and small business loans to businesses and local governments throughout New Hampshire. Company C is a top manufacturer of distinctive rugs, bedding, furniture and decorative accessories with over 1,000 dealers worldwide, three exclusive retail stores including the company鈥檚 headquarters in Concord. With a ten-year lease coming to an end, combined with the need to expand, Company C co-owners, Walter and Chris Chapin began to explore their options for managing the future growth of their premier design studio. They knew it was time to not only own their own building, but increase the existing footprint of the corporate office. Since its inception 20 years ago, Company C has always had its corporate office in Concord. While the both are loyal to their hometown, Walter and Chris knew they had to expand their search and look outside the Capitol City. 聽 After several months of searching for a new building, they decided to explore the option of purchasing the building they were leasing in Concord. It wasn鈥檛 for sale, and it was far from being energy efficient but they had an idea. 聽 鈥淚t made sense not to move,鈥?said Walter Chapin, Company C co-owner. 鈥淏y not moving it would be less disruptive to the corporate office, plus we have a retail store at this location. The only problem is that this building was not energy efficient. But we had a plan. As part of our financing package with CRDC we rolled in an entire renovation project focused on installing energy efficient lighting, adding a generator, plus building renovations to increase the size of our workspace.鈥? 聽 鈥淭his really was a great project that once we crafted the deal, it actually reduced their overall occupancy costs,鈥?said Liz Sweeney, CRDC Loan Officer. 鈥淭he upgrades to the building plus the installation of the energy efficient lighting really provided them with the building they always wanted without the need to move.鈥? 聽 鈥淐RDC worked creatively with the bank to really come up with a great financing package,鈥?said Chapin. 鈥淭hey are very organized and overall it was a great transaction. We are really happy with the choices we made during this process.鈥? 聽 CRDC collaborates with multiple banks to facilitate the lending process for companies looking to expand their business by purchasing real estate, new equipment or for those purchasing a new business. 聽 Photo Caption: Walter Chapin, Company C co-owner with Liz Sweeney, CRDC Loan Officer at Company C鈥檚 Concord, N.H., corporate office and retail store. 聽 en-us $date CRDC & Merrimack County Savings Bank Help Local Chiropractor Expand Business http://www.lianaishouce.cn/news.html?news_id=78&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Dr. Mills, or rather Dr. Stephanie as she likes to be called from her patients knew she had to expand her chiropractic business in the Lakes Region. The Meredith office is one of three Crossroads Chiropractic locations; the others are located in Pembroke and Epping. Under a lease agreement, the space in Meredith was small and during her busy hours it only provided her patients a standing waiting room, according to Dr. Stephanie, "I had to expand to meet the demand of my patients, plus we wanted to expand our community wellness workshops and we needed more space to do that." After an exhaustive search to buy a building, she decided to custom build and found a parcel of land for sale directly across the street from her leased space at 3 Annalee Place. 聽 "Once I found the land, it was a quick process," said Dr. Stephanie Mills, owner, and clinical director of Crossroads Chiropractic. "Working with CRDC and Merrimack County Savings Bank was seamless. It seemed like I was working with only one company." 聽 "It's common for banks to call CRDC and bring us into a deal," said Jennifer Boulanger, CRDC Loan Officer. "We get most of our deals through our strong relationships with local banks and commercial loan officers. The borrower for one reason or another may need some additional financing and that's where CRDC can provide that gap funding." Dr. Stephanie designed a 2,000 sq. ft. office space with expanded space for community health workshops, plus she was able to design the new building to have as much natural light as possible. 聽 "I love our Meredith office, it's beautiful," said Dr. Stephanie. "The loan process was very organized, and CRDC's follow-up was fantastic. I'm not always by my computer so it was great to get a phone call from Jennifer with regard to follow up. I'm also thankful to Merrimack County Savings Bank for recommending them." 聽 聽 Dr. Stephanie with a youth patient she has been treating since birth. en-us $date CRDC Announces 2014 Bank and Banker of the Year at Annual Dinner http://www.lianaishouce.cn/news.html?news_id=73&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC held its Annual Meeting with its Board of Directors, banking partners, colleagues at the Audubon Society in Concord, NH. The event which CRDC hosts annually is an opportunity for the staff to thank its banking partners and to welcome in the new slate of Board of Directors. CRDC also presented the 2014 Bank and Banker of the Year. Click here to view photo album. This year, CRDC presented Bank of New Hampshire with the annual award. Receiving the award on behalf of Bank of NH was Peter Thompson, VP Commercial Banker. 聽 CRDC presented John Udaloy, SVP & Senior Market Manager - Northway Bank with the 2014 Lender of the Year Award. 聽 聽 en-us $date CRDC Receives Grant from U.S. Forest Service for Development of the Claremont Hot Water District Heating System http://www.lianaishouce.cn/news.html?news_id=72&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Capital Regional Development Council (CRDC) is pleased to announced they have been awarded a $250,000 grant from the U.S. Forest Service to support the development of a wood-fired district heating system in Claremont, NH. The Forest Service program is designed to support the use of wood energy which will promote sound forest management, expand regional economics and create new rural jobs. The Claremont wood energy district heating project being developed by New Hampshire-based energy development company, HotZero, will connect downtown buildings with an efficient hot water heating system using biomass wood as its fuel source. It is expected that participating building owners will realize significant savings in heating costs without the need to use scarce capital and building space to install separate biomass systems. CRDC Loan Officer Elizabeth Sweeney said, 鈥淭his grant award is an important economic development resource for the Claremont area. Finding ways to take control of energy costs, while using nearby resources offers some of the tools we need in communities like Claremont.鈥? Sweeney added, 鈥淲hile many parts of the northeast are seeing energy cost reductions related to low natural gas prices, communities like Claremont that do not have access to natural gas run the risk of being left behind. Projects like this hot water district heating system helps level the playing field. The fact that the fuel procurement will mean more jobs in the local forest products industry strengthens the economics of the project.鈥? The grant dollars will be used to complete engineering for the project. It is expected that the first phases of the district heating system will be operational in late 2015. Initially, the project will focus on the Opera Square section of downtown, but is designed to scale-up over time to connect other sections of the city. HotZero Founding Director Dick Henry said, 鈥淲e are looking forward to working with CRDC to make this innovative project a reality for the City of Claremont. This nationwide grant was very competitive. So, we feel the validation this project has received from the U.S. Forest Service is an important step forward 鈥?not only for this project, but for the future of wood-powered hot water district heating systems in the region.鈥?/description> en-us $date CRDC's Closed And Funded Loans for Fiscal Year-End September 30, 2014 http://www.lianaishouce.cn/news.html?news_id=77&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC collaborates with multiple banks to facilitate the lending process for New Hampshire companies looking to expand their business by purchasing real estate, new equipment or those purchasing a new business. We thank our lending partners for our successful year where we funded 30 loans to 25 borrowers totaling $6,043,020. The banks we worked with include: Bank of New Hampshire Bank of New England Centrix Bank Enterprise Bank First Colebrook Bank Lowell Five Savings Bank Merrimack County Savings Bank NBT Bank Northway Bank Salem Five Salem Co-Operative Bank Sugar River Bank TD Bank The Provident Bank 聽 聽 聽 en-us $date CRDC Customer Receives Praise from State and Federal Officials http://www.lianaishouce.cn/news.html?news_id=71&module_params[name]=news&module_params[mode]=default&module_params[action]=detail A great story in today's Union Leader about CRDC customer Joe Lacerda, a veteran owned business owner. CRDC worked with Lacerda to help him purchase a building in downtown Manchester. U.S. Rep Carol Shea-Porter toured Lacerda's business, the Manchester Music Mill. CRDC's Executive Director, Stephen Heavener was there to participated in the conversation and tour. Click here to read the online version of the Union Leader's story about Joe. DALE VINCENT New Hampshire Union Leader MANCHESTER 鈥?Joseph Lacerda, owner of the Manchester Music Mill, 329 Elm St., used his GI benefits for school and a Small Business Administration veteran express loan to help start and grow his business. On Tuesday, he hosted U.S. Rep. Carol Shea-Porter, D-N.H., and both national and local SBA representatives and bank partners, who thanked him for his service and asked how they could reach more veterans to help them establish and grow their own businesses. 鈥淚f 10 percent more veterans knew abut the SBA, it would really help,鈥?he said. M. Rhett Jeppson, associate administrator for the Office of Veterans Business Development at the SBA, said there are programs to provide information and assistance to veterans as they leave the service. But starting a business is not at the top of the to-do list for every veteran leaving the military. Lacerda went to school to become an engineer and worked in that field for a while before he thought about starting what would become the Music Mill. Lacerda, whose business was designated the SBA鈥檚 2014 Veteran-Owned Small Business of the Year, said while he has benefited from both kinds of help, he thinks the SBA could be more proactive in assisting veterans who seek to become business owners. 鈥淲e didn鈥檛 know where to start,鈥?said Lacerda, who began his business online, while working as an engineer. In 2005, he opened a brick and mortar store in the millyard. He鈥檚 now on Elm Street, but it wasn鈥檛 easy, he said. 鈥淚t took a year of going up and down the street, trying to buy a building,鈥?he said. Finally, the man who now owns Van Otis Chocolate agreed to sell him the building he鈥檚 now in. 鈥淗e became my tenant,鈥?said Lacerda, with a 20-year lease. Lacerda had partners early on, he said, but he bought them out and now the business is all his, succeed or fail, and he鈥檚 seeing the business succeed and grow. While he still has an online business, it鈥檚 a shrinking share. He has 11 teachers on staff and the music school is booming. He makes sure his students perform publicly as well. Asked by Shea-Porter and others visiting the business Tuesday afternoon what he had learned, Lacerda said he had to learn not to be afraid of the unknown. 鈥淚鈥檝e learned to take risks,鈥?he said. Jeppson said veteran-owned business have annual receipts of $1.1 trillion. He said one in 10 businesses is veteran-owned, with a preponderance of sole-proprietor businesses. One of the goals of the SBA 504 program is expansion of small business concerns owned and controlled by veterans, especially service-disabled veterans. After leaving the Music Mill, following a tour of the business as well as a conversation with Lacerda, Shea- Porter walked across Elm Street to meet with Market Basket employees out picketing before heading to the Seacoast to meet with another business owner. en-us $date USDA Awards Million Dollar Loan To Capital Regional Development Council http://www.lianaishouce.cn/news.html?news_id=70&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The United States Department of Agriculture (USDA) announced Thursday a $1,000,000 direct loan to Capital Regional Development Council (CRDC) of Concord to relend to small rural businesses. USDA and CRDC expect this loan will help 10 New Hampshire businesses create or continue financing 101 jobs in rural New Hampshire. 鈥淐apital Regional Development Council is an experienced intermediary lender for USDA Rural Development funds,鈥?said USDA Rural Development Vermont and New Hampshire State Director Ted Brady. 鈥淭his loan is the base capital for a series of loans that will assist rural businesses and perpetuate job creation in disadvantaged and rural communities.鈥? Since 2008, CRDC has used $1.5 million in USDA Rural Development Intermediary Relending Program (IRP) loans to finance 22 New Hampshire small businesses. USDA Rural Development鈥檚 partnership with CRDC has resulted in the creation of 97 livable-wage jobs and 352 existing jobs saved. 鈥淯SDA Rural Development鈥檚 IRP program is a very important tool that permits the Capital Regional Development Council to lend much needed assets to New Hampshire鈥檚 growing small businesses,鈥?said Capital Regional Development Council Executive Director Stephen Heavener. 鈥淐RDC鈥檚 lending staff appreciates the flexibility of the program which enables us to provide creative financial solutions to New Hampshire businesses. 鈥漅ural Development鈥檚 IRP loans are given to private non-profit corporations, public agencies, Indian groups and cooperatives to alleviate poverty and increase economic opportunity and employment in America鈥檚 rural communities through very low-interest, accessible small business loans. President Obama鈥檚 plan for rural Americahas brought about historic investment and resulted in stronger rural communities. Under the President鈥檚 leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way 鈥?strengthening America鈥檚 economy, small towns and rural communities. USDA鈥檚 investments in rural communities support the rural way of life that stands as the backbone of our American values. USDA, through its RD mission area, administers and manages housing, business and community infrastructure programs through a national network of state and local offices. Rural Development has an active portfolio of more than $201.3 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural areas. For more information on Rural Development visit the Vermont/New Hampshire Rural Development Website (www.rurdev.usda.gov/nh-vtHome.html) or contact USDA RD at (802) 828-6000 en-us $date SBA NH Honors two CRDC Customers at Annual Small Business Awards http://www.lianaishouce.cn/news.html?news_id=67&module_params[name]=news&module_params[mode]=default&module_params[action]=detail SBA NH honored two of CRDC's customers at their Annual Small Business Week Awards Celebration this week. Chris Licata, President of Blake's All Natural Foods was honored as the Small Business Person of the Year. Read more about Blake's All Natural Foods. The SBA also honored Joe Lacerda, owner of the Manchester Music Mill, LLC in the category of Veteran Owned Small Business. Read more about the Manchester Music Mill. "We are very excited that the SBA is recognizing the hard work and dedication of these two local business owners," said Stephen Heavener, Executive Director, CRDC. "Both have worked very hard to bring their respective companies to success and we are proud to have been part of their journey." PHOTO CAPTION: CRDC Loan Officer Liz Sweeney (R) with Chris Licata, SBA award recipient, along with Don Bennert from Merrimack County Savings Bank. PHOTO CAPTION: Jennifer Boulanger, CRDC Loan Officer with Manchester Music Mill Owner, and SBA award recipient, Joe Lacerda. en-us $date Stephen Heavener, Executive Director Presents at SBA Finance Fair http://www.lianaishouce.cn/news.html?news_id=68&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Executive Director, Stephen Heavener was one of four presenters at this year's SBA Finance Fair held at Southern New Hampshire University. The seminar titled, "Alternative Financing", provided an overview of financing options for business owners. Stephen presented along side John Hamiliton of the Community Loan Fund. The two discussed their organizations' mission and the potential for alternative financing that is available in New Hampshire when a bank is not an option. Stephen did stress the working partnerships CRDC has with New Hampshire banks and provided an overview of the products and services available through CRDC. PHOTO CAPTION - John Hamilton, from the Community Loan Fund, with Amy Bassett, SBA NH, and Stephen Heavener, CRDC Executive Director at the 2014 SBA Finance Fair held at SNHU. en-us $date Two CRDC Customers Honored by SBA http://www.lianaishouce.cn/news.html?news_id=69&module_params[name]=news&module_params[mode]=default&module_params[action]=detail SBA NH honored two of CRDC's customers at their Annual Small Business Week Awards Celebration this week. Chris Licata, President of Blake's All Natural Foods was honored as the Small Business Person of the Year. Read more about Blake's All Natural Foods. The SBA also honored Joe Lacerda, owner of the Manchester Music Mill, LLC in the category of Veteran Owned Small Business. Read more about the Manchester Music Mill. "We are very excited that the SBA is recognizing the hard work and dedication of these two local business owners," said Stephen Heavener, Executive Director, CRDC. "Both have worked very hard to bring their respective companies to success and we are proud to have been part of their journey." en-us $date CRDC Customer Spotlight: S&S Machine, LLC http://www.lianaishouce.cn/news.html?news_id=66&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Father daughter duo Peter and Alana Samuelson recently put the final coat of paint on their new 6,500 sf precision machine shop located on Caldwell Drive in Amherst. With the help of Enterprise Bank and CRDC, the Samuelson's were able to purchase the industrial condominium space. Although the space is a little more than they currently need, they have plans to further expand with new equipment. "We were leasing space next door, and we simply outgrew it," said Peter. "We went from 1,200 sf to our current floor plan of 4,400 sf. We now have more room to work efficiently and the potential to expand. The process with CRDC and Jennifer Boulanger was so easy. It was actually the best banking experience I have ever had." S&S Machine specializes in prototypes, short runs, and quick turnaround work. en-us $date CRDC Participates in Financial Roundtable Discussion hosted by NHBR http://www.lianaishouce.cn/news.html?news_id=65&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Banking and finance in N.H: a Roundtable - Assessing the state of New Hampshire's banking industry NHBR's editors recently met with representatives of the New Hampshire banking and finance industry at our offices in Manchester to get an overview of the sector and find out what they believe the future holds. Participants were: 鈥?Ed Caron, executive vice president and senior credit officer, Merrimack County Savings Bank 鈥?Jay Dinkel, vice president and regional commercial banking manager, NBT Bank 鈥?Stephen Heavener, executive director, Capital Regional Development Council 鈥?Andrew McGeorge, chief financial officer, Service Credit Union 鈥?Joe Reilly, president and CEO, Centrix Bank 聽 锘? From left; Andrew McGeorge, chief financial officer, Service Credit Union; Jay Dinkel, vice president and regional commercial banking manager, NBT Bank; and Stephen Heavener, executive director, Capital Regional Development Council. Photo by Kathleen Callahan Availability of credit was a hot topic when NHBR held a similar roundtable in 2011. What does the situation look like now? Joe Reilly: I think it鈥檚 really not much different than it鈥檚 been from the beginning of the financial crisis. I think the banks of New Hampshire, given the condition that they鈥檝e been in, and continue to be in, have had plenty of capital and funding to lend to the small business sector and have been as aggressive as they can in doing so. Unfortunately, I think there was a little bit of a misnomer in the market that got played up politically with regard to a 鈥渃redit crunch.鈥?I don鈥檛 really think it existed here, but it was played to exist, given people who didn't have the qualifications to support a traditional bank loan. Stephen Heavener: I think that鈥檚 exactly right. There has never been a liquidity problem in New Hampshire as far as capital goes. The problem has been the quality of the credit and borrower, and that鈥檚 traditionally been the problem within the past five or six years. There has been plenty of capital for banks to lend out, but I think there was a perception, especially with free money out there and all the stimulus programs. Most of the stimulus programs were not focused towards small businesses. There was no free money and there really wasn't much change other than a little bit of tweaking and regulatory programs. Ed Caron: If you go back long enough, you had a couple of the big banks back in the 鈥?0s and 2000s fighting for SBA Champion of the Year, and after the crash in 2007, they pulled back. There鈥檚 a rotation that has really been to the local community banks, who have stepped up and filled the breach. There鈥檚 never been a lack of credit available in the small business group. In fact, right now, I would argue there are a lot of banks chasing too few credit opportunities, so you really can go into any bank and the banker will try his best to make the loan because businesses scramble out there for good quality assets. It鈥檚 a great time to be a borrower. Jay Dinkel: There鈥檚 a disconnect somewhere between the businessperson, the borrower and the financial institutions that want to loan money. We鈥檙e working -- harder than ever, I think -- to get loans out, and the competition is as great as it鈥檚 ever been. Interest rates are low, everything seems to be in place, and yet I鈥檇 say many businesses are hesitant to look and, even with the improved balance sheets that we鈥檙e seeing, the volume and demand still seems to be light. SH: I think there鈥檚 a lot of uncertainty at all different levels. There鈥檚 political uncertainty, ACA Obamacare uncertainty -- this is not against or for it, this is just that the small businessperson doesn鈥檛 yet really know what that may cost down the road. Then you have what鈥檚 going on in the Ukraine. There鈥檚 just a lot of caution out there, and the only borrowing that is occurring is borrowing in which the borrower just can鈥檛 wait any longer and they're probably the only companies that are making capital investments. Andrew McGeorge: We鈥檙e one of the new players that鈥檚 adding to the competition in the field, and at the same time we鈥檙e ramping up the business. We have a lot of money to lend, but we don鈥檛 have a ton of businesses beating down our door, probably for the same reasons these folks have talked about. We focus on slightly different types of borrowers than the banks do. A lot of our members already have relationships with us -- plumbers who want to buy a new van or somebody who wants to buy a rental property. We consider those business loans. I mean, it鈥檚 kind of saying the same thing -- New Hampshire remains very healthy, but there is some uncertainty out there that鈥檚 probably preventing us from achieving our full potential. 聽 Is uncertainty the main driver of the depressed demand? JR: It is clearly uncertainty, and we鈥檝e found, over the last two years, there to be a pretty schizophrenic marketplace. We鈥檝e gotten off to good starts in the beginning of the year and then, even by March, the phones are quiet again and our outreach efforts have to be reactivated or intensified to begin to draw opportunities, but it鈥檚 been a long, long road, and I don鈥檛 know exactly what is going to be a key catalyst to change the environment. 聽 Joe Reilly, CEO of Centrix Bank, said New Hampshire "is still a great place to be." EC: Historically, New Hampshire鈥檚 led the New England region with growth. Now we鈥檙e kind of lagging 鈥?in the middle of the pack. We have some issues in the state that we have to deal with. Energy costs are a real problem. I鈥檓 also chairman of the New Hampshire Business Finance Authority, so we deal with some manufacturers across the state, and the spike of natural gas prices has really put a crimp on some big employers. I know the governor鈥檚 trying to work on that by putting a pipeline in, but our energy costs are extraordinarily high, and that鈥檚 a real detriment to the state. We鈥檝e also become a no-growth state in many respects. The state tries to drive business, but I鈥檓 old enough to remember back to the golden years in the 鈥?0s and 鈥?0s when Sam Tamposi brought a lot of new business 鈥?he actually went out and recruited companies to New Hampshire, like Digital Equipment, Anheuser-Busch, Kollsman, Fidelity. He brought a bunch of companies into New Hampshire, and you know, those people could relocate fairly easily. And you get housing for them and we had this tremendous boom in the late 鈥?0s and early 80s, and today I think there鈥檚 a backlash for companies to get established here, to get the permits necessary. It鈥檚 a very lengthy process and when you look at housing development, it鈥檚 become very difficult to put up a significant housing project in the southern part of the state. Again, the state, I think, tries to promote business, but I think at some of the local levels you鈥檝e really got some people sitting on some of these planning boards and zoning boards that might not be there to interpret the law so much about what鈥檚 allowable, but what can they prevent. To me, it鈥檚 becoming a real problem. JD: I鈥檓 not sure that alone prohibits our growth because that鈥檚 true through in all our neighboring states. So, again, it gets back to that slight disconnect where we seem to have the pieces in place as well as any of our neighbors, but we haven鈥檛 seen many results from it yet. JR: I think, too, that it鈥檚 a matter of allocating resources. I鈥檓 a native. I鈥檝e been here my whole life 鈥?a 35-year career in the banking industry in New Hampshire -- and I always marvel every year that there are 1,100 to 1,200 things wrong that need some sort of legislative solution. I think if the state was really serious about trying to improve its business climate and attractiveness to bring families here, they鈥檇 identify a prioritization of half a dozen or 10 really substantive, meaningful issues that can further the environment to provide that incremental development. But right now, the Legislature spends 100 percent of its time on any number of other things than trying to provide a better business environment. At least that鈥檚 my perception from the outside. EC: I will say the banks have done a lot of good things in the last few years too. We鈥檝e taken advantage of some of the New Market Tax Credit opportunities with Steve Duprey in Concord developing two very large buildings that have really transformed South Main Street. And CATCH, a local nonprofit, put up a low-income housing project together, but they鈥檝e also just refurbished the Endicott Hotel into marketplace housing, which is remarkable. The Concord Food Co-Op has gone through a major renovation program. I know Centrix has been very active in the greater Manchester community. We just financed a hotel down in Nashua. We鈥檙e in the process of being a participant in the Hooksett rest area project, which is a major boon for the state. So there are a number of projects that we鈥檙e in, and I think we have to tell someone the good news about it. SH: I think one of the keys of the business activity that has happened in the last four or five years is that a lot of it has had nontraditional funds in the deals. The public might not necessarily know what the New Market Tax Credit is, what an SBA 504 loan is, what a Community Development Block Grant loan is. As an enhancement lender, that鈥檚 what we do every day. We package funds for five different federal agencies, New Hampshire CDFA tax credits 鈥?every single person around this table that鈥檚 a banker has used us in deploying those nontraditional financial products. So, if you were to just peel out traditional conventional lending in New Hampshire, and then add to it all the deals that all the regional development corporations and the certified development companies in New Hampshire have done, it鈥檚 a substantial addition to the investment that takes place in the state. We are very fortunate for the small state that we have, that we have as much creative and nontraditional money. I don鈥檛 know if the bankers would concur with that, but a lot of what goes on out there is designed to help them put out more money. We take on more of the risk so the banks can continue to deploy their money, and we come in behind them and maybe help them do deals that otherwise might not get done without our participation. EC: The other thing is that the state is really a tale of two cities. The southern part of the state from Concord, south and east, the economy has recovered pretty well. The northern part, with the exception of the Upper Valley, which has got Dartmouth and the hospital up there, is in very difficult shape, and I think the western part of the state is also struggling a bit. The closer you get to the Massachusetts line, the better the economy is, in terms of the housing market, in particular. You see the jobs, the high-tech jobs, the Massachusetts people coming back up the highway. You鈥檝e got to look at certain pockets. In terms of the overall economy, where is the demand coming from for loans -- are there specific sectors that you see more activity? JD: Last year, I think most people would agree, manufacturing was real strong. Overall, many manufacturers were booming and expanding and having a hard time finding labor -- up until about the fourth quarter, then it seemed to stall. That carried into the first quarter, and now things seem to be picking up again. We hope that continues, but it鈥檚 this roller coaster of growth and stalling that seems to be pervasive. EC: The manufacturing base in New Hampshire has shrunk over the last 20 years, which is really unfortunate. It鈥檚 a real dilemma for us, but on the other hand we do have some victories. The Safran plant has opened in Rochester. It鈥檚 a 275,000-square-foot facility, an amazing facility. The BFA has invested $5 million in that project for some infrastructure. The state competed against a number of southern states and was able to attract them here primarily because they wanted to be close to Albany International. I think they鈥檝e got like 110 employees now, but they're talking about going to 500 employees within the next five years. It鈥檚 created a demand for the community college out there to expand to try and train high school graduates for a couple more years in basic math and how to learn some of these sophisticated pieces of equipment. That鈥檚 a deal-changer for Rochester. There are a lot of high-paying jobs that will attract some other industries 鈥?it鈥檚 already doing that. And again, I see the state is being active in that role to benefit the local people. Those are the type of industries we need to somehow attract into the state to drive our economy. Does anyone want to take a shot as to how we can do that? JR: I haven鈥檛 given it enough thought, except for to say we鈥檙e a state that is unwilling, whether for right or for wrong, to consider an alternative overall tax structure and scheme, and until we can make a commitment to provide the resources 鈥?whether they be through tax credit incentives or relocation costs or deferral of certain business tax burdens 鈥?to attract businesses, I don鈥檛 know what the solution is. But clearly, with the biennial struggle to balance our budget, I don鈥檛 see us being able to make the commitment to invest meaningful money into that venue. But I think if we did look at it a little differently and really generated a lot of enthusiasm and a lot of focus in that area 鈥?it鈥檚 not going to be a one- or two-year return, but over a five- or 10-year cycle 鈥?we might be able to see some results. SH: I worked in economic development in seven states in the last 35 years, and New Hampshire really does not have an economic development strategy. The Legislature really doesn't invest in economic development. Investing in economic development means giving the Department of Resources and Economic Development a substantial budget to do their business recruitment. It means investing in infrastructure. This is no reflection on DRED Commissioner Jeffrey Rose and his staff. It鈥檚 a reflection of the Legislature not investing 鈥?meaning return coming down the road 鈥?not in one-year, but in five or 10 or 15 years. So most of what happens in the state happens because of the bankers in this room and because of private developers. AM: I also think we have sort of a chicken-and-egg problem in terms of demographics and things like that. There was an article recently in Portsmouth that said that the number of people living in town between 25 and 44 was the lowest in a generation. Part of that is housing affordability, maybe people moving into less expensive places along the Seacoast, but if I鈥檓 a business in another state contemplating where I might want to relocate my firm, looking at a state that鈥檚 aging and is maybe not as good at retaining its young people would give me reason for concern. But the flip side is you have to have those businesses to keep people around in the first place. I don鈥檛 really know what the perfect solution is, but I do think our demographics may work against us in some degree compared to some southern states that are growing so quickly. JD: We sitting around this room love living in New Hampshire and know why people move here, but the traditional influx in an economic recovery and as all the costs of doing business in Massachusetts increase -- that influx has not yet occurred. Personally, I think it鈥檚 still going to, it鈥檚 just everything is on a delay in this recovery. Time will tell. JR: I chair the board of a local institute of art, and we are in the process of searching for a new CEO. We had a meeting with someone who happens to be out of Nantucket, and as they were talking to the search committee and the additional members of the board, she said that this is going to be a very attractive search because people want to be in New Hampshire. I think you're right, Jay 鈥?it is still a great place to be. The proximity to Boston, to the lakes, the beautiful North Country and the Seacoast 鈥?I know I don鈥檛 want to be anywhere else. JD: So why is it that the 20-to-40-year-olds aren鈥檛 moving here, or moving back here, like we did 20 or 40 years ago? SH: It鈥檚 because the jobs aren鈥檛 here. It鈥檚 clearly the chicken-and-egg problem. Where we鈥檙e sitting right now is an excellent place for jobs 鈥?in the middle of the Manchester Millyard, where the Dyns of the world are. That鈥檚 who draws the 25-to-40-year-old range. We don鈥檛 have enough critical mass of that yet, and if we do, it鈥檚 here and it鈥檚 in Dartmouth, and maybe a little bit in the Seacoast. There is a disconnect because there are more people who want to come here than there are jobs here, and I鈥檓 not sure how to address that, but I think that鈥檚 the answer. EC: I think we run a risk of being a little bit too negative. We can argue about the quality of jobs going in the right direction, but we do a lot of construction lending, and we just approved a development down in Nashua. Somebody asked me the question, 鈥淲ell, what kind of competition is there in the greater Nashua area as far as other projects?鈥?because back in the '80s, there was a condo project going up on every corner, and the banks weren鈥檛 talking to each other. But fortunately us old bankers learned from that lesson. 聽 "This real estate crash is really the worst that we鈥檝e ever seen in our banking careers," said Ed Caron of Merrimack County Savings Bank. It prompted me to do look at the Census reports and went back to 1960. In 1960, the state issued 1,777 single-family building permits. If you look back in the 鈥?0s, we averaged about 4,000 single-family building permits. Then we went to the 鈥?0s 鈥?the boom-boom years 鈥?12,000 was the peak in 1986, but we averaged at least 5,000. The bank failures in 鈥?1 scattered people out, but interestingly enough, from 1990 up until 2007, the average was 5,000 single-family building permits. But when the crash came in late 鈥?7, we dropped down over a four-year period, from 鈥?8 to 2012, to 1960 levels of 1,775 single-family permits. It鈥檚 remarkable. Now, we've had a 27 percent increase since 2013 to 2,300 units, but that鈥檚 1962 levels. My point is, this real estate crash is really the worst that we鈥檝e ever seen in our banking careers. Kids now see their parents鈥?houses falling in value. It鈥檚 not such an attractive investment with kids 鈥?even today, you see the demand from the 55 age-designated projects and it鈥檚 tough to get a single-family home project built at an affordable level. The affordability issue is a drag on keeping kids in the state. It鈥檚 very hard to build an affordable house when you鈥檙e paying $100,000 for a buildable lot in the southern part of the state. AM: What we鈥檙e hearing anecdotally on the Seacoast is the sluggishness in real estate is as much due to supply right now as it is demand. There are not that many houses that are listed, and partly that鈥檚 seasonal, we haven鈥檛 really gotten to the spring yet, but year over year, we鈥檝e seen a big decline in mortgage origination. It鈥檚 not because the economy is getting worse, it鈥檚 just because there is nothing out there to transact on. JD: I鈥檝e always felt that housing is more of an indicator than a driver. I鈥檓 not sure if that鈥檚 correct or not, but once the manufacturer and employment needs grow, people will find housing and drive the market rather than the other way around. I think building houses in hopes that people will then be attracted to move is not as likely. EC: When Joe and I graduated from school, you didn't have the student loan debt that you have today. My wife retired from the Hudson School District this year, and she was telling about the young teachers. The young teachers come out of school and they're making entry-level pay, $30,000 to $35,000. They鈥檙e burdened with student loan debt and they're having a hard time making ends meet. So maybe you get married and you鈥檝e got two incomes and maybe you can save a couple of bucks for a down payment. But now you鈥檝e got a couple of incomes and you鈥檙e paying back your college debt. It鈥檚 a real issue in New Hampshire and across the nation. One of the reasons the construction sector is still sluggish is the lack of spending by governments on things like schools and infrastructure. Is there any hope that it will turn around at some point? JR: I think it just comes down to the public willingness to look into the future and try to make necessary investments. I look at it personally, and maybe jadedly so, but I say how could you not consider a gas tax given the severity of the improvements that need to get done in our roadways? Part of our biggest platform for revenue in this state is the rooms and meals tax, and that鈥檚 hospitality, and hospitality relies on a good infrastructure, roadways, bridges, etc. to be able to attract and interest people to come to our state and spend money. So you're going to kind of kill the goose that lays the egg if those investments aren鈥檛 made. I look at the gas tax discussion in Concord and say, 鈥淲hy are we spending so much time with it? Let鈥檚 do it, and move on.鈥?It鈥檚 critical. I don鈥檛 think it鈥檚 even enough. SH: In 鈥?1, when the gas tax was 15 cents, gas was $1.15. That鈥檚 15 percent. We鈥檙e talking 4 cents now on gas at $3.50. It doesn鈥檛 even show up. It should be, as Joe said, a substantially higher number. I think it should be substantially higher because of the level of deferred infrastructure improvements we need to make in New Hampshire. EC: I agree 鈥?I think 4 cents is minimal. With that being said, you鈥檝e got to look again at our energy costs. People are paying $3.79 for heating oil. It鈥檚 a huge burden for a major part of our population living on fixed income. How are they going to pay that $600 or $700 fuel bill? I really think it鈥檚 incumbent on our congressional people to get out there with a national energy policy to encourage things like the Keystone pipeline, to encourage pipelines into the Northeast, to reduce our energy costs to make us a bit more competitive. In terms of the regulatory environment, is there anything in particular that you think is holding back the industry? JR: I guess it sometimes sounds that as an industry all we do is complain. I hate that about it, but it is real, and it is very significant in terms of its adverse impact and our ability to deal with our customers. In the residential mortgage business, with the ATR 鈥?ability to repay 鈥?and the new qualified mortgage rules that went into effect in January, the New Hampshire banking industry study did a retrospective look at the loans, provided on a residential mortgage basis to customers, over the last three years. It then applied the new standards and estimated that about 22 or 23 percent of the loans that have been written historically aren鈥檛 going to be able to be written under these new requirements under the new Consumer Financial Protection Bureau. That鈥檚 money to good people with an historically proven ability to repay the loan, but based upon the recoil from the fallout, from the Wall Street disaster, it鈥檚 going to have a material impact here in New Hampshire. That鈥檚 only one small example of a tsunami of regulations and legislation around the provisioning of financial services that are going to have an impact right here in New Hampshire. That鈥檚 what鈥檚 forcing the need for scale and the need for scale is what鈥檚 forcing, for example, my board鈥檚 decision to make the decision it did -- to partner and get additional bandwidth so that we can stay out ahead and be able to be competitive. EC: Joe鈥檚 nailed it with his description of the regulatory environment. The real risk in my mind is not for the midsize banks that provide credit to the communities, the real risk is for the smaller community banks in the state. You get north of Concord and some of these small banks service some communities that are going to be the victims of this over-regulation because they're going to have a hard time surviving the Dodd-Frank rules and regulations, and that鈥檚 really a shame. God knows, the North Country needs all the help it can get, and they shouldn't have to deal with some of these regulations. For those of us down in the southern part of the state, the bigger banks, we鈥檝e learned how to deal with it and we鈥檙e adapting to the higher scales like we have done with the Meredith Savings, and now Eastern Bank and Centrix. And Jay, you鈥檝e been there. JD: We have. Driven by the same factors that Joe already described, it鈥檚 a drag on all of us. But most businesses are finding more headway. Ours happen to be mostly regulatory, but I think some people would say created unnecessarily in some cases. Interesting statistic: 50 percent of all the foreclosures during this last crisis occurred in four states, and New Hampshire is obviously not one of them, but we鈥檙e all going to pay for it. And you could make an argument, a strong argument, that with the enforcement of the regulations that were already in place in 2007 and before would have been sufficient. JR: I think the other piece that has never been really public is that much of the difficulty arose in what they call the shadow banking industry -- the unregulated, unlicensed mortgage brokers and originators and like outfits. You add that to greed, from rating agencies and Fannie and Freddie and social public policy that encourages everyone to own a home, independent of whether they can afford to or not, and you have a recipe for disaster, and that鈥檚 what happened. Again, I think the banks are easily recognized and understood and were the first identified target for criticism. How do you think the next year or so looks from an economic standpoint? EC: Our backlog is stronger than it was a year ago -- don鈥檛 get me wrong, you still got to go out there and knock on doors and try and develop the relationships with your customers, but clearly it鈥檚 better than it was two years ago. It鈥檚 better than it was a year ago, and I鈥檓 optimistic that it will continue to improve. I can only tell you based off our numbers that we鈥檙e seeing some growth in our portfolios and we鈥檙e seeing some wide range of activities from some small businesses and very significant projects, and I鈥檓 sure that Joe has seen the same thing in his portfolio. It鈥檚 easy to get caught up in the negatives and how difficult it鈥檚 been, but there are still some opportunities out there. The automobile industry is really coming back. We鈥檝e participated in doing some construction with some big clients. It鈥檚 amazing how well some of them are doing. There are some pockets of some real positive information out there, and it鈥檚 easy to get dragged down by only focusing on the negatives. New Hampshire will continue its revival from the deep abyss and will continue to move forward. I am confident that will happen. AM: Automobile lending is a huge part of our business, compared to the other folks around the table. In 2013, we shattered our record for auto lending, and so far, 2014 is 20 percent over where we were in 2013. The beginning of last year, we had huge snowstorms weekend after weekend after weekend, but the evidence on autos suggests that there is this pent-up demand from consumers from years and years of them just not buying cars. That trend is not going to abate in 2014 and beyond. The other thing is just, selfishly for all of us at the table, it seems like rates are finally going to start rising, maybe not within the next week, but by the time we get to the end of 2014, and especially by the time we get into 2015. We鈥檒l see a move off of these record low interest rates, and that helps financial institutions. JD: There is something to be said for the steady recovery that we鈥檙e seeing. Some of us feel that it鈥檚 been too slow, but we may look back at these days and say they were fairly steady and gradual in the improvement that the economy went, rather than so robust we couldn't keep up and maybe were sloppy and made mistakes in the process. JR: I am in the camp that is much more hopeful about continued progress and more prosperity. I am proud to be a banker in this state, I love New Hampshire and I think we鈥檝e got some really great people here. We certainly have a whole plethora of other assets that are going to make it a place that will thrive over the long term. SH: Like Jay said, I鈥檓 looking for incremental growth. I鈥檇 prefer, frankly, predictable, incremental growth. The curve鈥檚 going upward as opposed to peaks and valleys, which makes it really hard to plan and predict and allocate resources. I would love to see a nice steady growth curve for the next five years. This article appears in the April 4 2014 issue of New Hampshire Business Review 聽 聽 en-us $date WGIR-AM New Hampshire's Morning Host, Jack Heath Sits down with CRDC http://www.lianaishouce.cn/news.html?news_id=64&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Jack Heath, New Hampshire's morning host featured on WGIR-AM sat down with Executive Director Stephen Heavener to discuss the benefits that CRDC can provide to small businesses. The interviewed aired this morning on WGIR. Click here to listen. 聽 CRDC's Heavener (left) sits with Radio Host Jack Heath in the WGIR Studios in Manchester. en-us $date A Sampling of Recent CRDC Deals http://www.lianaishouce.cn/news.html?news_id=63&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Below is a sampling of recent approved CRDC deals. en-us $date News from Southern NH Planning Commission http://www.lianaishouce.cn/news.html?news_id=60&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is a strong supporter of SNHPC and is eager to help promote their current projects. CRDC shares the same mission of enhancing the region's economic development and the quality of life by identifying and promoting projects for funding that strengthen the regional economy and lead to job creation. Central New Hampshire and Southern New Hampshire Planning Commission are working together with 21 municipalities in Merrimack County, including the City of Concord and 4 municipalities in Hillsborough County - the towns of Bedford, Goffstown, New Boston and Weare to develop for the first time a Comprehensive Economic Development Strategy (CEDS) for this area. A CEDS is a US Economic Development Administration (EDA) funded economic development planning process designed to coordinate economic development efforts and identify local and regional economic development needs and priorities. Currently, a CEDS Advisory Committee consisting of representatives from these municipalities including the private sector is distributing a project solicitation letter seeking information from public officials and private businesses what they view as the most important economic development and infrastructure projects for their communities and this area. These projects will then be prioritized and included in a CEDS report for the area and by inclusion will be eligible for future EDA funding. Bankers, investors and businesses can participate in the process by identifying those projects they believe are of important local and regional significance. For more information contact: Mike Tardiff, Executive Director, Central RPC at mtardiff@cnhrpc.organd David Preece, Executive Director at Southern NH Planning Commission at: Dpreece@snhpc.org en-us $date CRDC's Executive Director Appointed to Governor's Economic Development Advisory Council http://www.lianaishouce.cn/news.html?news_id=59&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Published by the New Hampshire Business Review e-news edition. Hassan: Panel 鈥榠s critical to our efforts to support innovative economic growth鈥? Published: 02.25.14 聽 聽 聽 <img src="/images/cache/cache_0/cache_b/cache_0/0b02fb06432b3a266ed00ee2a062cb12.jpeg?ver=1393351904&aspectratio=1.1255230125523" alt=""> Gov. Maggie Hassan announced on Tuesday she has appointed 26 people to the state Economic Development Advisory Council. Established in 2008 by the Legislature 鈥?a measure sponsored by then Senator Hassan 鈥?the council assists the state Division of Economic Development by providing advice on the trends and the needs across all sectors of industry and government to aid in the strategic planning efforts of the division. Members of the council serve three-year terms and represent industries across the state, including manufacturing, education, tourism and retail, among others. Hassan said the council 鈥渋s critical to our efforts to support innovative economic growth and help businesses create good jobs. These appointees have a diverse track record of success in a variety of sectors across our economy, and I am confident that their service will help build a stronger, more innovative New Hampshire.鈥? The governor鈥檚 appointees, who Department of Resources and Economic Development Commissioner Jeffrey Rose said represent 鈥渋ndustries from every corner of the state,鈥?are: 鈥?Zenagui Brahim, director of the New Hampshire Manufacturing Extension Partnership 鈥?Kendall Buck, vice president of the Home Builders and Remodelers Association of New Hampshire 鈥?Dean Christon, director of New Hampshire Housing Finance Authority 鈥?Patrick Clark, president/CEO of BurstPoint Networks 鈥?Jamie Coughlin, director of New Ventures and incubator programs, Dartmouth College 鈥?Eric Crainich, president of Design Standards Corp. 鈥?Katharine Eneguess, president of White Mountains Community College 鈥?Phil Ferneau, founder/director of Borealis Ventures 鈥?Jeffrey Hayes, director of the Lakes Region Planning Commission 鈥?State Sen. Jeanie Forrester, R-Meredith 鈥?Judy Gove, director of the New Hampshire Electric Co-op 鈥?Stephen Heavener, director of the Capital Regional Development Council 鈥?Gale Hennessy, executive director of Southern New Hampshire Services 鈥?Chris Hodgdon, director of government affairs for Comcast 鈥?State Rep. Naida Kaen, D-Lee 鈥?Carmen Lorentz, director of the New Hampshire Division of Economic Development 鈥?Daniel Lee, associate professor of economics at Plymouth State University 鈥?Patrick McDermott, director of external affairs for Hinckley Allen 鈥?Mark McKenzie, president of New Hampshire AFL-CIO 鈥?David Mullen, director of Pease Development Authority 鈥?Jayne O鈥機onnor, president of White Mountains Attractions 鈥?Eric Proulx, general manager of Tanger Outlet Center 鈥?Kathleen Reardon, vice president of Citizens Bank 鈥?Tim Sink, president of the Greater Concord Chamber of Commerce 鈥?Sarah Smith, extension professor at the University of New Hampshire 鈥?Philip Suter, director of the Regional Center for Advanced Manufacturing at Keene State College This article appears in the March 7 2014 issue of New Hampshire Business Review en-us $date The town of Hudson is added to the list of municipalities receiving funding through CRDC's Brownfields Revolving Loan Fund http://www.lianaishouce.cn/news.html?news_id=61&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC was awarded a $1.8 million grant from the U.S. Environmental Protection Agency to capitalize a Brownfields Revolving Loan Fund (RLF). CRDC is providing loans and sub-grants to businesses, non-profits and municipalities to support clean-up activities of environmentally damaged (hazardous materials) sites that are suitable for redevelopment. Sites contaminated with petroleum based materials are not eligible. All sites must be pre-approved by the U.S. EPA prior to participation. Click here to read more about CRDC's Brownfields loans and grants. The Town of Hudson and Rockingham Economic Development Corporation (REDC) along with the EPA had requested that CRDC participate in the clean-up of a Hudson Brownfields site through a sub-grant of $200,000, to supplement the other funding from the EPA, provided earlier by REDC. 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 The Town, in conjunction with the Zachary Tompkins Memorial Fund (ZMTF), intends to develop the site into a recreational complex, containing football and baseball fields, with an associated parking area and support facilities. Hudson town officals have been aware of the asbestos contamination since 1984. After the town acquired the property for non-payment of taxes, with an indemnification of the town, several studies have been completed to identify the extent of the asbestos contamination. A Remedial Action Plan (RAP) and the Analysis of Brownfield Cleanup Alternatives (ABCA) was prepared. These are key EPA requirements, as they focus on selecting the most appropriate remedial action to eliminate exposure to the asbestos contamination. The RAP was approved, based upon wholesale removal, relocation of the waste and capping. With the commencement of work, based upon evidence examined by the contractor and the supervising engineer, it became clear that the depth and the horizontal level of contamination was more extensive. "Because of safety concerns and winter conditions, CRDC's participation was both necessary and time-sensitive," said Stephen Heavener, CRDC Executive Director. CRDC awarded the $200,000 grant to Hudson and immediate work was done by the end of November 2013 to include mostly excavation and capping of the contaminated soil. The project was stabilized to the satisfaction of NH DES and EPA. This spring, Hudson officials say finishing work will be done related to the final ground cover, pavement and loam and seeding. In addition to Hudson, the City of Concord has been awarded sub-grants totaling $325,000 for the clean-up of three contiguous sites known as the Allied Leather Tannery and Amazon Realty, both on Canal Street in Penacook. In Keene, a $200,000 loan was deployed by CRDC to the Monadnock Economic Development Corporation to support clean-up of the site which is now home to the Monadnock Community Market Cooperative. en-us $date CRDC Sponsors ACCESS Greater Manchester Event http://www.lianaishouce.cn/news.html?news_id=58&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC participated as a sponsor at the Greater Manchester Chamber of Commerce's, ACCESS Greater Manchester Annual meeting. The event held at the NH Institute of Politics at St. Anselm College brought a crowd of more than a hundred business leaders, comprised of bankers and economic development offices across the southern part of the state. The keynote speaker was Daphne A. Kenyon an economist and visiting fellow from the Lincoln Institute of Land Policy in Cambridge, Massachusetts. She presented, "What You Should Know About Property Taxes and Economic Development."During her presentation, she reminded attendees to embrace NH's no broad-based income or sales tax and to promote the "New Hampshire Advantage". The Access Greater Manchester Annual Meeting is an opportunity for development professionals and other business leaders, municipal staff, and elected and appointed officials from across the region to gather together to network and learn. PHOTO CAPTION: L-R: Daphne A. Kenyon of the Lincoln Institute with CRDC Executive Director, Stephen Heavener, Robin Comstock, President, GMCC, and David Preece of the Southern NH Planning Commission. en-us $date CRDC featured on WKXL's Downtown Dialogue http://www.lianaishouce.cn/news.html?news_id=57&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC Executive Director, Stephen Heavener, joined WKXL's Downtown Dialogue host, Paul Brogan for an informative 40 minute interview. Topics ranged from the benefit of partnering with CRDC to explaining CRDC's enhancement lending programs.Click here to listen to the interview. 聽 聽 聽 en-us $date ReadySetGo! http://www.lianaishouce.cn/news.html?news_id=55&module_params[name]=news&module_params[mode]=default&module_params[action]=detail In an effort to increase awareness of certain properties in Southern New Hampshire, the Southern NH Planning Commission is actively marketing its website: www.ReadySetGoNH.com. This innovative certified site program wil present and market the availability of properties which have been pre-certified. ReadySetGo! designated sites are commercial, industrial or mixed-use sites and buildings that will be marketed to potenital users on a local, regional, state and national scale.CRDC is a strong suppoter of this campaign and will help promote SNHPC's current projects along with their Comprehensive Economic Development Strategy (CEDS). CRDC shares the same mission of enhancing the region's economic development and the quality of life by identifying and promoting projects for funding that strenghten the regional economy and lead to job creation. For more information visit: www.cnhrpc.org en-us $date CRDC Sponsors Access Greater Manchester Annual Meeting & HighTech Council's Entrepreneur Forum http://www.lianaishouce.cn/news.html?news_id=56&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 Two upcoming business forums targeting economic growth in Southern New Hampshire is sparking a buzz, both of which CRDC is a proud supporter. Access Greater Manchester is hosting its Annual Meeting on Monday, February 3 at the NH Institute of Politics at St. Anselm College. Dr. Daphne Kenyon, an economist will speak on the topic, What You Should Know About Property Taxes and Economic Development. The meeting is free and open to the public, though an online RSVP is requested. For more information visit: AccessGreaterManchester.com 聽 The High Tech Council is continuing its successful Entrepreneur Forum with ApplyKit and BurstPoint Networks as the featured businesses. The two companies with make their pitch at the next Forum which will be held on Wednesday, February 12 beginning at 5:20pm at the FIRST Place in the Millyard in Manchester. Audience members can take part in the process by asking questions and sharing feedback with the presenters. For more information or to register visit: NHHTC.org en-us $date CRDC Among Lenders Assisting Renovation of Concord's Raquet Club http://www.lianaishouce.cn/news.html?news_id=54&module_params[name]=news&module_params[mode]=default&module_params[action]=detail http://www.concordmonitor.com/community/town-by-town/concord/10127341-95/planning-board-to-hear-proposal-for-racquet-club-of-concord-makeover By MEGAN DOYLE Monitor staff Thursday, January 9, 2014 (Published in print: Friday, January 10, 2014) In one room, a group of women lifted weights, mirroring their class instructor. Around a corner, doubles teams whacked balls to each other on an indoor court. On another side of the building, a massage chair waited open in the spa. That鈥檚 the scene at the Executive Health & Sports Center in Manchester. And next week, owner Mike Benton will ask the city鈥檚 planning board to approve his multimillion dollar plan to replicate that scene locally by renovating the existing Racquet Club of Concord in the image of his pilot facility. 鈥淚t will be a brand new facility,鈥?Benton said. 鈥淚t will certainly have the same sort of traditional services such as racquetball, tennis, a pool. But their fitness (equipment) is completely antiquated. . . . Most of the equipment they have on their floor is 20 years old." Concord A.C. Tennis Division Inc. owns the Racquet Club property. The owners of Executive Health & Sports Center have a purchase-and-sales agreement that Benton said could allow contractors in the building within 24 hours after the planning board鈥檚 approval. Carlos Baia, deputy city manager for development, said the planning board could approve the project as early as during the public hearing Wednesday. The Racquet Club 鈥渉as been on the market for quite some time,鈥?Baia said. 鈥淭he club itself is in need of some renovation. . . . From the city鈥檚 perspective, if the project is approved by the (planning) board, it will help to improve a property that has seen some better days.鈥? The current Racquet Club building on Garvins Falls Road is about 72,000 square feet. During three phases of development, Benton鈥檚 plan would increase the health club space to more than 103,000 square feet. But he stressed this facility, like his operation in Manchester and a similar location in Hooksett, would be more than a gym. It would be a wellness center, a place for a family or an individual to get healthy and learn how to stay that way. Benton鈥檚 son, Justin, walked near a fleet of empty standing bikes ready for a spin class in Manchester. He nodded to another man in gym shorts walking alongside a female employee, clipboard in hand. That guest would have just received a wellness assessment available to every person who joins Executive, Justin Benton said. That assessment provides every member with a complete health profile, including a blood lipid profile and an analysis of body composition. 鈥淚t鈥檚 our job to make sure we鈥檙e reducing any risks that you have,鈥?said Paula Joyce, general manager of Executive. Also part of the addition to the Racquet Club of Concord would be about 12,000 square feet for medical offices. At Executive in Manchester, an occupational therapy practice has its office just downstairs from the fitness center, and an urgent care center has set up next door. Benton said he would hope to provide similar services in that medical office space in Concord. We are going to be working with the greater medical community in Concord, as we have in Manchester, to establish a community health, wellness and fitness facility at that location,鈥?Benton said. Between the wellness services and the adjoining medical offices, Benton said the new facility would be 鈥渃ompletely differentiated鈥?from fitness options already available in Concord, such as the YMCA. 鈥淲hat we鈥檙e building is something where our whole goal is to provide a very nice, affordable but also structured environment,鈥?Benton said. Should the city鈥檚 planning board give Benton the go-ahead in Concord, Baia said he foresees the Racquet Club as 鈥渙ne-stop shopping鈥?for health and fitness needs. Benton and his team is 鈥渋nspired, they鈥檝e got success in their record and they want to get going,鈥?Baia said. The city council first heard about the project in June, when it voted to apply for a $500,000 grant through the state鈥檚 Community Development Finance Authority to help with the renovations. The money would pass through another agency, the Capital Regional Development Council, and on to the business in the form of a loan, which the business would repay to the city. At the time, the councilors were told the estimated cost of the project would total $5.1 million. Benton did not confirm that, saying the project cost was in the range of several million dollars. Stephen Heavener, executive director of the CRDC, said the organization is working with Benton and his team to provide additional financing to the Racquet Club project on top of that loan. 鈥淲e think this is a very important, impactful, high-visibility project for the city of Concord, and we鈥檙e very excited to be involved at whatever level is possible,鈥?Heavener said. The owners of the Racquet Club of Concord did not respond to requests for comment. The planning board will host its public hearing on the project Wednesday at 7 p.m. in council chambers. 聽 en-us $date CRDC Guest Speaker - Women & Money Forum http://www.lianaishouce.cn/news.html?news_id=53&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Center for Women's Business Advancement at Southern New Hampshire University tapped, CRDC Loan Officer, Jennifer Boulanger as a guest speaker for their, Women and Money Forum. The business forum drew a crowd of new and seasoned woman led business owners. The forum's theme was "Learn, Earn, Grow!" The Center prides itself on providing future and current women entrepreneurs with the necessary resources to advance their business goals. CRDC's Jennifer Boulanger presented with Marilyn Bogue, Lead Economic Development Specialists from the Small Business Adminstration (SBA), and Donna Ehrler, Senior Vice President at Northway Bank. The presentation was focused on Business Finance Options, and packed with information on financing options from traditional bank loans to non-traditional loans through organizations like CRDC which works closely with NH Banks to provide gap financing and SBA 504 loans. PHOTO CAPTION: (L-R), Donna Ehrler, SVP, Northway Bank, Jennifer Boulanger, CRDC Loan Officer, and Marilyn Bogue, Lead Economic Development Specialist, SBA present, "Business Finance Options", at the 2014 Women & Money Forum on Thursday, January 9, 2014. en-us $date CRDC Executive Director Featured in Union Leader Q & A http://www.lianaishouce.cn/news.html?news_id=52&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC's Executive Director, Stephen Heavener sat down with Union Leader reporter, Dave Solomon for a look into New Hampshire's financial outlook and how CRDC plays a role in the state's economic development. Follow the links below to read the full story printed on two pages and as published in Sunday's Union Leader Business section on November 24, 2013. Union Leader Business Page 1 Union Leader Business Page 2 en-us $date CRDC Provides Funding for Local Developer's Organic Vision http://www.lianaishouce.cn/news.html?news_id=62&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Concord real estate developer, Steve Duprey is continuing his "green" quest with the recent purchase of a hydroponic container garden. CRDC provided the necessary funds to help Duprey's vision of providing all local, home grown greens at the Grappone Conference Center in Concord. "We have faith in Steve and his new, creative, visionary projects," Heavener says. "He's got a successful track record." PHOTO CAPTION: Steve Duprey with Grappone "Chef Trish" stands with a pitchfork in front of his new organic venture. 聽 en-us $date CRDC Names Bank of the Year, and Commercial Lender of the Year http://www.lianaishouce.cn/news.html?news_id=51&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC presented two awards at its Annual Meeting of Board Members and invited guests held on November 6, at the Audubon Society, in Concord.The first award recognized Northway Bank as CRDC's Bank of the Year. The award according to CRDC Executive Director, Stephen Heavener is based on the highest dollar volume of loans referred to CRDC in the fiscal year ending September 30, 2013. "This award recognizes Northway Bank for its dedication and commitment to CRDC's mission to facilitate economic development throughout the state." 鈥淲e enjoy the collaboration with CRDC,鈥?said John Udaloy, SVP Group Manager at Northway Bank who accepted the award on behalf of Northway Bank. 鈥淐RDC is a great community partner to have who understands what it takes to get a deal done.鈥?鈥淐RDC is a non-profit that relies heavily on our relationships within the banking industry to achieve our mission," says Heavener. "In addition to Northway Bank, CRDC worked with 11 other banks last fiscal year to achieve our mission." PHOTO: Kristy Comarcho, VP of Treasury Services and Municipal Banking, John Udaloy, SVP Group Market Manager and CRDC's Executive Director, Stephen Heavener. CRDC also celebrated the dedication and support from Claudia Walker of Merrimack County Savings Bank, as she was named 2013 Commercial Lender of the Year. The award is based on the number of loans and dollar volume produced together by a commercial lender and CRDC. 鈥淐laudia understands the importance of collaboration and we are thankful for her dedication to CRDC,鈥?said Stephen Heavener. 鈥淭his award recognizes and thanks Claudia for her hard work throughout the year.鈥? 鈥淥n behalf of Merrimack County Savings Bank, I would like to thank CRDC for the extraordinary service they provide,鈥?said Claudia Walker, Senior VP, Commercial & Construction Loan Officer, Merrimack County Savings Bank. 鈥淥ne of our customers had a financing request this year that required an 鈥榦ut of the box鈥?approach. As usual, we found a solution from Stephen Heavener and Jennifer Boulanger at CRDC and through the SBA.鈥? PHOTO: CRDC's Stephen Heavener and Claudia Walker, Senior VP Commercial & Construction Loan Officer, Merrimack County Savings Bank. 聽 en-us $date CRDC Provides Gap Financing to a Leading Manufacturer of Orthopedic Products http://www.lianaishouce.cn/news.html?news_id=50&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Capital Regional Development Council (CRDC), recently closed a deal to help support a leading manufacturer expand its corporate headquarters. Corflex, a manufacturer of orthopedic rehabilitation products is a well known name and respected brand in the orthopedic industry. Over the last decade, Corflex experienced a surge in national sales and distribution increasing their need to expand their Manchester based office. A strong strategic vision, smart financial planning, and patience allowed brothers, and co-owners, Paul and Ted Lorenzetti to develop their now 29,000 sq ft building in stages. The most recent addition and probably the most crucial to Corflex鈥檚 operations is the 9,000 sq ft. expansion of their manufacturing center and warehouse. 鈥淲e are exactly where we want to be, it took us time but we are finally here,鈥?said Paul Lorenzetti, Corflex CEO. 鈥淭he expansion has enabled us to provide more room in critical areas like our manufacturing operation. More space means we could hire more employees. We have increased our labor force from our original 18 to 55 employees. Corflex has worked hard over the years to become one of the leading distributors of orthopedic rehabilitation products. We thank CRDC and Centrix Bank for helping us through the financing of this final stage of our expansion project.鈥? 鈥淭his was a great project to get involved in,鈥?said Stephen Heavener, CRDC Executive Director. 鈥淭hese are the types of loans where we can deploy financing from other programs besides our popular SBA 504 loans. Funds for this loan came from the U.S. SBA Intermediary Lending Pilot Program (ILPP). The ILPP loan program permits direct lending in cities that have a population of 25,000 or greater and allows small businesses to use the loan proceeds for working capital, real estate, or the acquisition of materials, supplies or equipment.鈥? 鈥淲e were very pleased to support Corflex through the final stage of their expansion plan,鈥?said Wayland Elwood, VP, Commercial Loan Officer for Centrix Bank. 鈥淭hey are a well-managed company and we wish them continued success in their mission to remain a leading distributor of orthopedic rehabilitation products around the world.鈥? 鈥淲e were very happy with the financing process,鈥?added Lorenzetti. 鈥淎s with any loan there is paperwork but CRDC and Centrix really collaborated to make this a seamless process for us, allowing us to stay focused on our business. PHOTO: CRDC's Stephen Heavener and Jennifer Boulanger with brothers and Corflex Owners, Ted and Paul Lorenzetti. en-us $date CRDC Annual Meeting a Success! http://www.lianaishouce.cn/news.html?news_id=49&module_params[name]=news&module_params[mode]=default&module_params[action]=detail On Wednesday, November 6, CRDC held its Annual Meeting with Board Members and invited guests. The evening's keynote speaker was Department of Resource and Economic Development Commissioner, Jeffrey Rose. He presented his vision for the state's economic development strategy and how CRDC plays a role in those efforts. "The state of NH is very fortunate to have Commissioner Rose's vision for enhancing the economic vitality especially in the private sector. We look forward to helping the Department of Resource and Economic Development in any way possible," said Stephen Heavener, CRDC Executive Director. CRDC's Executive Director, Stephen Heavener, Liz Sweeney, Loan Officer, Jennifer Boulanger, Loan Officer, Commissioner Rose and CRDC Loan Porfolio Administrator, Kim Imbriglio. en-us $date CRDC Speaks to Media Regarding Government Shutdown http://www.lianaishouce.cn/news.html?news_id=48&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC Executive Director, Stephen Heavener talks with media regarding the Government Shutdown and how this affects NH businesses. Quoted by WMUR-TV, Union Leader and the Concord Monitor, Heavener told the media that all SBA funding has come to a halt with the Government shutdown. Links to the full story can be found below. Photo Caption: WMUR-TV Anchor and Reporter, Amy Coveno, interviews CRDC's Stephen Heavener for the 6:00pm news. 聽 http://www.unionleader.com/article/20131002/NEWS06/131009887/0/SEARCH http://www.wmur.com/page/search/htv-man/news/politics/shutdown-leads-to-concerns-for-business-owners/-/9857748/22223832/-/2wq1m2z/-/index.html http://www.concordmonitor.com/news/politics/8755144-95/in-nh-some-services-grind-to-a-halt-while-others-continue-as-federal-government en-us $date Government Shutdown Impacts NH Businesses http://www.lianaishouce.cn/news.html?news_id=47&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Impacts of the federal Government Shutdown on Commercial Real Estate and Small Business Lending By: Stephen Heavener, Capital Regional Development Council The federal government shutdown effective October 1, 2013, will have a major negative impact on commercial real estate and small business lending in New Hampshire. Many commercial real estate and small business loans are financed with U.S. Small Business Administration 7A loan guarantees or SBA 504 certified development company loans. The SBA has terminated processing both types of loans under the current shutdown.To put SBA lending in New Hampshire in perspective, as of August 31, 2013 (the initial eleven months of the Federal fiscal year) a total of 441 SBA loans were approved for a total of $89.5 million, of which 83 loans totaling $32.5 million were SBA 504 loans. The SBA 504 program is specifically targeted to end-user commercial real estate purchases and provides up to 40 percent of the purchase price at a 20-year fixed interest rate. Many 7A loan guarantees are also used to finance commercial real estate. The Capital Regional Development Council, CRDC, is one of the five SBA certified development companies in New Hampshire, none of which can secure approval of an SBA 504 loan during the shutdown. They accounted for the 83 SBA 504 loans approved to August 31, 2013. Fortunately, the Capital Regional Development Council, also manages various small business direct loan programs that can be deployed throughout New Hampshire to assist growing small businesses without Federal government approval. We work closely with most commercial lenders in NH to provide up to $200,000 to enhance the bank鈥檚 loan when a financing gap has been identified. Although this program is important to the evolving small business community, CRDC only approved eleven direct loans totaling $1.5 million since October 1, 2012. These loan funds remain available for commercial real estate and small business lending, but the program falls far short of the much needed loan funds provided under SBA programs. CRDC has experienced an increase in loan demand since the summer as businesses begin to emerge from the uncertainty of past years and re-engage in capital investing. We fear that the Federal government shutdown will substantially dampen this emerging momentum. 聽 en-us $date CRDC Helps to Build Up Downtown Manchester http://www.lianaishouce.cn/news.html?news_id=44&module_params[name]=news&module_params[mode]=default&module_params[action]=detail "Manchester is a hot spot, especially for a company like mine," says Manchester Music Mill owner, Joe Lacerda. "The city has a lot of history, especially downtown - I knew this is exactly where I wanted the Manchester Music Mill to be." CRDC Executive Director, Stephen Heavener, with Manchester Music Mill's owner Joe Lacerda and CRDC Loan Officer, Jennifer Boulanger. Lacerda started his business in the Millyard, but the need for more room and higher visibility led him to South Elm Street where he leased space for four years, ironically just one building over from his current location. With a desire to stay downtown, South Elm Street particulary, the building he wanted was not for sale, but that didn't stop Lacerda from his pursuit of expanding space to meet the growth of his successful music store. "Downtown is the perfect location for our walk-in customers," Lacerda added. He struck a deal with the owners of Van Otis Chocolates to buy the 20,000 square foot building located at 341 Elm Street, just two blocks from the Verizon Wireless Arena. The next step was financing. Lacerda connected with Stephen Heavener, Executive Director of CRDC and CRDC Loan Officer, Jennifer Boulanger. Heavener a music lover and guitar collector himself knew Manchester Music Mill's business model well and recommended an SBA 504 loan as his best option. "Stephen was very professional and aggressive in a good way, "said Lacerda. "He along with Jennifer got behind me from the get go, and really came up with the best financing solution for me. They worked seamlessly with my bank and got the deal done. For me, the most challenging part of this project was the construction." A conveyor belt and other existing old building quirks that was part of Van Otis' daily business operations proved to be a construction obstacle. Lacerda tapped into his engineering background and designed a music facility which goes beyond a retail footprint. The Manchester Music Mill's 11,000 sq. ft. includes 12 sound proof rooms designed for lessons, plus space for The Music Techs, an instrument repair shop owned and operated by his wife, Dawn. The remaining 9,000 feet of space continues to be the Van Otis store, a lease now managed by Lacerda. Check out the Manchester Music Mill's store by visiting www.manchestermusicmill.com or visit The Music Techs online at www.themusictechs.com. en-us $date Evaluating CDC's as a Lending Partner http://www.lianaishouce.cn/news.html?news_id=45&module_params[name]=news&module_params[mode]=default&module_params[action]=detail A recent online article shared with us from a local, respected commercial banker is worth sharing. The article written by Kurt Chilcott, President/CEO, CDC Small Business Finance asks the question, "Do your CDC partners pass the Limtus Test?" Click here to read the article. 聽 We encourage you to read the article, and think of us when doing so. We take pride in our extensive lending experience, our strong reputation within the SBA and the leadership and guidance from our Board of Directors who they themselves are respected leaders in NH's banking, finance and real estate industries. Our loans promote job growth and protect job retension while helping local communities prosper through economic development. Please contact us if you have any questions. en-us $date CRDC Sponsors Greater Manchester Economic Development Summit on October 9 http://www.lianaishouce.cn/news.html?news_id=46&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Economic Development Summit is day-long gathering of the region's top business leaders and policy makers to learn about and discuss ongoing and future infrastructure and economic development projects and initiatives. The event organized by the Greater Manchester Chamber of Commerce features speakers and panelists from across New Hampshire and New England, including developers, transportation officials, educators, business officials, economists, elected officials and more. Click here for more information or to register. en-us $date CRDC Receives EPA Brownfields Grant http://www.lianaishouce.cn/news.html?news_id=43&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC was selected by the EPA for an $800,000 brownfields revolving loan fund grant. CRDC will provide loans andsubgrants to support cleanup activities for sites contaminated with hazardous substances.The funding is part of more than $62 million in EPA Brownfields investments across the region announced by the EPA to protect health and the environment, create jobs and promote economic redevelopment in American communities. "The first step in restoring and redeveloping polluted properties is cleaning them up, and these EPA Brownfields Grants will help do just that," said EPA regional administrator Curt Spalding. "These grants are important investments for the future of NH redevelopment." "CRDC is very pleased that it was awarded an additional $800,000 to re-capitalize its existing $1.0 million Brownfields RLF," said Stephen Heavener, executive director, CRDC. "The Brownfields RLF program is a very important tool that CRDC has added to its various non-traditional loan programs that enables developers, business owners and municipalities to access affordable capital to assist with the cleanup of environmentally impacted sites." The check presentation was made to CRDC at the redevelopment site of the former tannery site in Penacook. The Allied Leather tannery site is now owned by the City of Concord and major cleanup is underway made possible by EPA Brownfield funding. 聽 CRDC Executive Director, Stephen Heavener accepts the $800,000 grant from EPA Reg. Admin. Curt Spalding. en-us $date CRDC sponsors Concord Chamber of Commerce Breakfast with Commissioner Rose http://www.lianaishouce.cn/news.html?news_id=42&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC recently sponsored a Concord Chamber of Commerce breakfast forum featuring the new Department of Resources and Economic Development Commissioner, Jeff Rose. Commissioner Rose spoke to a crowd of 75 business leaders. He presented his outlook of leading four distinct divisions within the agency which are critical to the health and well-being of the state; Economic Development, Forests & Lands, Parks & Recreation, and Travel & Tourism Development. Caption: (L-R) CRDC Executive Director, Stephen Heavener, Commissioner Rose and Concord Chamber President Tim Sink. 聽 en-us $date CRDC Among 13 Applicants Across the Country to Receive U.S. EPA Brownfields Funding http://www.lianaishouce.cn/news.html?news_id=41&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC was one of 13 applicants throughout the United States to receive a Brownfields Revolving Loan Fund grant from the U.S. Environmental Protection Agency. A total of $11million was allocated for Revolving Loan Fund activities. CRDC was awarded $800,000 to re-capitalize its existing $1.0 million Brownfields RLF, which was established in 2011. "The Brownfields RLF program is a very important tool that CRDC has added to its various non-traditional loan programs that enables developers, business owners and municipalities to access affordable capital to assist with the clean-up of environmentally impacted sites," said Stephen Heavener, CRDC Executive Director. "The program is designed to return underutilized or environmentally tainted sites to the development inventory." CRDC has already assisted the City of Concord with a grant to clean-up the Penacook Tannery site and a loan to the Monadnock Economic Development Corporation in Keene to assist with remediation on the Railroad Avenue Redevelopment Project. CRDC's Brownfields Program is targeted to eligible hazardous remediation projects located throughout Grafton, Sullivan, Cheshire, Hillsborough and Merrimack Counties. en-us $date CRDC Provides City of Concord with $200,000 Brownfield RLF Grant http://www.lianaishouce.cn/news.html?news_id=39&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC recently awarded the City of Concord with a $200,000 Brownfields RLF grant for the clean-up of two contiguous sites, both located on Canal Street in Penacook. The site of Allied Leather Tannery and Amazon Realty are currently under clean-up and upon completion, the City plans to convey approximately 2.5 acres of the 4 acre site to a private developer for final redevelopment. The City envisions a mixed use development for the property. Presently, the City is entertaining a proposal for a 45-60 unit assisted living facility, with other ancillary development. The development will create approximately between $5 - $6.6 million in new assessed value, as well as many full and part time positions. Residual portions of the Allied Leather site directly abutting the Contoocook River will be retained by the City for a new public "Riverwalk Park" as well as potential new branch City library. 聽 In 2011, CRDC was awarded a $1.0 million grant from the U.S. Environmental Protection Agency to capitalize a Brownfields Revolving Loan Fund (RLF). CRDC is able to provide loans and sub-grants to businesses, non-profits and municipalities located throughout Merrimack, Hillsborough, Sullivan, Cheshire and Grafton Counties to support clean-up activities of environmentally damaged (hazardous materials) sites that are suitable for redevelopment. Sites contaminated with petroleum based materials are not eligible. en-us $date CRDC sponsors Concord Chamber of Commerce Breakfast with Commissioner Rose http://www.lianaishouce.cn/news.html?news_id=40&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Join us for a breakfast forum featuring the new Department of Resources and Economic Development Commissioner Jeff Rose, formerly of BAE Systems. As Commissioner he is responsible for leading four distinct divisions within the agency which are critical to the health and well-being of the state; Economic Development, Forests & Lands, Parks & Recreation, and Travel & Tourism Development. Commissioner Rose will be presenting his vision for the Department of Resources and Economic Development and its effects on the greater Concord region. Click here for more information or to purchase your ticket. en-us $date CRDC Featured in New Hampshire Business Review http://www.lianaishouce.cn/news.html?news_id=38&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC Executive Director, Stephen Heavener sat down with New Hampshire Business Review (NHBR) for a one-on-one. The article featured in the February 22 edition, focuses on CRDC's services to NH's businesses and CRDC's financial lending capabilities. To read the article click here. 聽 en-us $date CRDC Provides Funding to Blake's All Natural Foods, a local, family-owned business http://www.lianaishouce.cn/news.html?news_id=37&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The business world does not often see evidence of longevity, continuity, community value, as well as success and growth. CRDC has benefitted by a relationship with just such a business: Blake's All Natural Foods. Blake鈥檚 Family Farm began in 1929 at 178 Silk Farm Road, Concord, NH, first established by the current owner鈥檚 grandparents. Today, it proudly remains a family-owned business, as a production facility, with a concentration on natural and organic foods. 鈥淲e are fortunate to have experienced periods of explosive growth over the past several years鈥?said Chris Licata, President and partial owner of Blake鈥檚. 鈥淐RDC, and Liz Sweeney specifically, responded to our needs, taking the time to understand our business, our people and our future. This understanding made it possible to have strategic conversations about how we could work together鈥? 鈥淏lake's was focused on expanding it's product line, which required additional working capital to fund product development, a sales team and facility upgrades to make this happen. At the time, conventional financing was not available, but CRDC stepped in to provide a $100,000 working capital loan", said CRDC Loan Officer, Liz Sweeney. Now, Blake鈥檚 sells their products in 47 states across the country. With the expansion of their market presence, Blakes鈥檚 experienced an increase in sales, which often are time-sensitive. In addition, CRDC was also pleased to provide an additional loan to finance additional equipment/facility upgrades which were crucial to meet the demands of their increased production needs. According to Licata, Blake's has more than doubled its鈥?work force in the last few years, now totaling more than 40 employees. "Thanks to the help of Liz and the CRDC team we are one step closer to fulfilling our mission of providing families across the country with healthy, delicious, made-from-scratch meals". 聽 CRDC Loan Officer, Liz Sweeney with Chris Licata, President and partial owner of Blake's All Natural Food. 聽 en-us $date CRDC Closes Second Loan Under U.S. SBA Intermediary Lending Pilot Program (ILPP) for Manchester Based Company http://www.lianaishouce.cn/news.html?news_id=36&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Earlier this month, CRDC closed an $80,000 loan for the NH School of Mechanical Trades. The loan is part of the U.S. SBA stimulus funded Intermediary Lending Pilot Program. This is the second loan from the $1 million that is available under this program. "We are excited that more and more businesses are learning about the ILPP loan program," said Stephen Heavener, CRDC Executive Director. "This new tool allows CRDC to assist businesses, which may be new and poised for strong growth, throughout the State of New Hampshire including large cities such as Manchester, Concord or Nashua." Jennifer Boulanger, CRDC lender worked on the deal with NH School of Mechanical Trades owner Dean Millard. "This company fits well under ILPP guidelines - where small businesses can use the loan proceeds for working capital, real estate, or the acquisition of materials, supplies, equipment," said Boulanger. "The loan will allow my partner John Duff and I to create more training labs and buy new equipment," said Millard. "CRDC made this loan process very easy. They are very organized, and what I liked most is that they spelled out exactly what I needed to do." NH School of Mechanical Trade offers a variety of training and licensing classes in HVAC, Oil & Gas Heat, Electrical, plumbing and OSHA Safety Courses. They also offer a "Ladies Night" which the course is dedicated solely to educating women on many household repair techniques, as well as immediate response actions to common household emergency situations. The school is located at 7 Perimeter Road in Manchester. Photo: Jennifer Boulanger with Dean Millard en-us $date Union Leader features CRDC: Manchester Design Firm Snags $200,000 from SBA Loan http://www.lianaishouce.cn/news.html?news_id=35&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Union Leader, Tuesday December 4, 2012 Manchester design startup snags $200,000 SBA loan MANCHESTER - A product design and development firm with headquarters in the Millyard was the first recipient of a loan from a Small Business Association pilot program designed to enable direct lending in cities with a population of 25,000 or greater. Helix Design, a full-service industrial design firm, was awarded a $200,000 SBA loan through the Intermediary Lending Pilot program, administered by the Capital Regional Development Council, based in Concord. 聽 Click here to read full article at www.unionleader.com en-us $date NHBR features CRDC for First in NH SBA ILP Loan http://www.lianaishouce.cn/news.html?news_id=34&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Friday, November 30, 2012 - Source: NHBR - Online Publication www.nhbr.com New CRDC loan for high-tech firm is a first for New Hampshire A growing Manchester technology firm is the first New Hampshire company to secure a loan through a new U.S. Small Business Administration pilot program, administered locally by the Capital Regional Development Council. Helix Design Inc., a full-service industrial design firm headquartered in the Manchester Millyard, secured a $200,000 loan through the program, called the Intermediary Lending Pilot program. Helix will use the loan for working capital fund the company's growth. The ILP program was established by the federal Small Business Jobs Act of 2010 and was funded by the federal stimulus. CLICK HERE TO READ ENTIRE ARTICLE PRINTED IN NHBR 聽 en-us $date CRDC Closes First Loan Under New SBA Pilot Loan Program to Growing Mancheter Technology Firm http://www.lianaishouce.cn/news.html?news_id=33&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Within one month of being awarded a $1.0 million loan from the U.S. SBA under the stimulus funded, Intermediary Lending Pilot (ILP) Program, CRDC closed its first loan to Manchester based, Helix Design, Inc. According to CRDC's Executive Director, Stephen Heavener, "Unlike USDA funded loans, the ILP loan program permits direct lending in cities that have a population of 25,000 or greater." Great news he adds for companies in Manchester, Concord and Nashua.Jennifer Boulanger, CRDC lender worked on the deal and quickly realized that Helix's financial needs fit well into the ILP guidelines, where small businesses could use the loan proceeds for working capital, real estate, or the acquisition of materials, supplies, equipment. Joe Schappler, Principal and founder of Helix Design took advantage of the new loan program to fund working capital. "We essentially design cool things you want to use," said Schappler. "Industrial design is the consumer appeal to the product. You need a connection with the product - we make that happen." Some of the innovative products designed by Schappler and his team include; digital cameras, a video conferencing robot, a state-of-the-art water filter systems, but the products he is most proud of include a series of military gear, "We know our military is using good gear to fight, we know that because we designed it. "Recently, Helix received national publicity for its "Designed in America," mosaic they designed and featured in this photo. The design features a collage of more than 1,000 separate illustrations all inspired by and pertaining to the field of product design. "When viewed as a whole, the artistic inspiration takes on the image of the Stars and Stripes, and delivers a powerful message as well," said Schappler. For more information about Helix Design, visit their website at www.helixdesign.com Photo Capton: Helix founder, Joe Schappler stands before his "Designed in America" flag with CRDC's Stephen Heavener and Jennifer Boulanger 聽 聽 聽 聽 en-us $date CRDC Presents Awards at Annual Board Meeting http://www.lianaishouce.cn/news.html?news_id=32&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is pleased to announce two awards were presented at its Annual Meeting of Board Members and invited guests held on November 7, at the Audubon Society, in Concord. The first award recognized Centrix Bank as CRDC鈥檚 Bank of the Year. The award according to CRDC Executive Director, Stephen Heavener is based on the highest dollar volume of loans referred to CRDC in the fiscal year ending September 30.鈥淥ur lenders worked collaboratively with Centrix鈥檚 lenders to close three SBA 504 loans totaling more than $1 million last fiscal year,鈥?says Heavener. 鈥淭his award recognizes Centrix Bank for its dedication and commitment to CRDC鈥檚 mission to facilitate economic development throughout the state.鈥?鈥淐RDC has been a true partner to our commercial lending team,鈥?said Joe Reilly, President/CEO Centrix Bank. 鈥淐RDC provides alternative products to our business customers and provides the gap funding that is sometimes needed plus they provide outstanding, timely services.鈥濃淐RDC is a non-profit that relies heavily on our relationships within the banking industry to achieve our mission,鈥?says Heavener. In addition to Centrix Bank, CRDC worked with 15 other banks last fiscal year according to Heavener and include; Bank of NH, Citizens Bank, Claremont Savings Bank, First Colebrook Bank, Franklin Savings Bank, Lake Sunapee Bank, Ledyard Bank, Mascoma Savings Bank, Merrimack County Savings Bank, Northway Bank, People鈥檚 United Bank, Savings Bank of Walpole, St. Mary鈥檚 Bank, TD Bank and Woodsville Guaranty. 聽 聽 聽 聽 聽 聽 聽 聽 Stephen Heavener, Executive Director of CRDC (left) and CRDC鈥檚 President of the Board of Directors, Christine Fillmore present Brian Lavoie of Centrix Bank with the 2012 Bank of the Year Award. CRDC also celebrated the dedication and support of Arlene Adams, of Mascoma Savings Bank as the 2012 Commercial Lender of the Year. The award is based on the number of loans and dollar volume produced together by a commercial lender and CRDC. 鈥淐RDC鈥檚 sustainability depends on lending funds to growing New Hampshire businesses in collaboration with our banking partners,鈥?says Heavener. 鈥淢ascoma鈥檚 projects have had a very important impact on our profitability in 2012. We extend a deep appreciation to Arlene for her hard work and commitment to CRDC and our mission.鈥濃淎rlene works extremely hard for her customers,鈥?said Steve Christy, President/CEO Mascoma Savings Bank. 鈥淚t鈥檚 no surprise to hear that CRDC has chosen Arlene as its Commercial Lender of the Year. She advocates for her customers and if that means bringing in additional resources of funding to help her customers achieve their goals 鈥?she鈥檚 working to get it done. CRDC has been great to work with and provides that gap funding that is sometimes needed.鈥? Caption: Stephen Heavener, Executive Director of CRDC (left) and CRDC鈥檚 President of the Board of Directors, Christine Fillmore present Arlene Adams of Mascoma Savings Bank with the 2012 Commercial Lender of the Year Award. en-us $date $1 Million Available for NH's Small Businesses through CRDC http://www.lianaishouce.cn/news.html?news_id=31&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC is one of 20 Organizations Nationwide Selected to Participate in the U.S Small Business Administration Intermediary Lending Pilot Program The Capital Regional Development Council (CRDC) was recently awarded a $1.0 million loan from the U.S. Small Business Administration under the Stimulus Funded, Intermediary Lending Pilot (ILP) Program CRDC is among only 20 organizations nationwide that were awarded the loan 鈥?a total of $20 million was dispersed. CRDC is non-profit development corporation that provides a variety of economic development services and small business loans to businesses and local governments throughout New Hampshire. 鈥淭his resource will add to CRDC鈥檚 growing diverse direct lending tools,鈥?said Stephen Heavener, CRDC Executive Director. 鈥淲e will work to deploy all of the funds as quickly as the market can absorb them with an initial $500,000 budgeted for 2013. Unlike other government funded loans administered by CRDC such as the USDA funded IRP loan program, this program permits direct lending in cities that have a population of 25,000 or greater 鈥?great news for small businesses in Manchester and Nashua. The funds are available throughout New Hampshire. 鈥淥ne of the most important ways SBA can foster business development and support underserved markets is through increasing the points of access to capital,鈥?stated Robert H. Nelson, SBA Acting Regional Administrator. 鈥淧artnering with community lenders has proven to be an effective way to reach start-ups and those small businesses that have been disproportionately affected by the recession. Under the guidelines of the ILP Program CRDC is allowed to fund eligible businesses up to $200,000. According to Heavener, small businesses may use the loan proceeds for working capital, real estate (some guidelines apply), or the acquisition of materials, supplies, furniture, or equipment. CRDC deploys most of its loan programs working in close coordination with New Hampshire鈥檚 banks, providing loan funds to business borrowers to fill financing gaps. This new program will follow the same guidelines.鈥淔inancing start-ups and meeting the demand for small loans continues to be the greatest challenge reported by our New Hampshire lending partners,鈥?added SBA district directorGreta Johansson. 鈥淲e look forward to working with CRDC as they continue to seek ways of meeting that demand.鈥滷or more information about the ILP Program call CRDC Executive Director, Stephen Heavener at 603.369.6000. 聽 en-us $date CRDC Provides Gap Financing for Bindery Project, 45 South Main Street, Concord http://www.lianaishouce.cn/news.html?news_id=30&module_params[name]=news&module_params[mode]=default&module_params[action]=detail 聽 Earlier this month, real estate developer Steve Duprey started construction on his newest commercial project in downtown Concord. Located at 45 South Main Street, right next door to the Smile building which is also a Duprey Companies project. CRDC is among seven lenders that participated in financing, which includes a portion in tax credits.The building is slated to open Late Summer 2013, tenants include; the law firm Orr & Reno and Gibson's Bookstore. 聽 45 South Main Street, Concord 聽 Groundbreaking Ceremony at 45 South Main Street. Steve Duprey featured 3rd from left alongside his team of lenders and future tenants. CRDC lender, Liz Sweeney pictured 3rd from right. 聽 en-us $date CRDC Partners with 13 Different Banks by Approving $6.3 Million in Direct Small Business Loans and Increases Its Direct Loan Lending Limit to $200,000 http://www.lianaishouce.cn/news.html?news_id=29&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC Executive Director, Stephen Heavener is pleased to announce with less than one quarter left in it's fiscal year, CRDC has approved 23 loans totalling $6.3 million. Of that, $4 million are SBA 504 loans with the remaining $2.3 million in direct loans. "The industry is seeing more and more complex loans that are requiring banks and their customers to seek alternative financing," said Heavener. "Our lenders are commited to working diligently with banks to seek financing solutions that work for everyone. We are proud to continue to partner with our local banks and lenders while welcoming new relationships." CRDC approved loans with the following 13 banks: - Bank of NH (formerly Laconia Savings Bank) - Centrix Bank - Citizens Bank - Claremont Savings Bank - First Colebrook Bank - Franklin Savings Bank - Lake Sunapee Bank - Ledyard Bank - Mascoma Bank - Merrimack County Savings Bank - People's United Bank - Savings Bank of Walpole - St. Mary's Bank 聽 CRDC is also pleased to announce changes to its direct lending limit."Based on the ongoing demand for enhancement lending products from CRDC's lending partners, the CRDC Board of Directors approved an increase in direct lending up to $200,000 from the current borrower limit of $150,000, "says Heavener. "This is the first time the direct loan programs lending limit has been raised in more than ten years." en-us $date BNH Magazine taps Heavener for insight on NH jobs, Wages... http://www.lianaishouce.cn/news.html?news_id=28&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC Executive Director is called upon to add insight on New Hampshire's jobs, economy and wages in a recent story titled, Wages, the Northern and Southern Divide Widens. To read the full article printed in the June 2012 issue click here. en-us $date CRDC Customer Chosen for SBA Award http://www.lianaishouce.cn/news.html?news_id=27&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Congratulations to CRDC Customer, Design Standards Corp Named Family-Owned Business of the Year by the SBA CRDC applauds Design Standards Corp and owner Eric Crainich for being named winner of the Jeffrey H. Butland Family-Owned Business of the Year Award. Crainich is a second generation contract manufacturer in the medical device industry. CRDC provided a SBA 504 loan to perform major renovations to their expanded new medical equipment manufacturing facility which is located in Charlestown, New Hampshire. CRDC Loan Officer, Liz Sweeney submitted the nomination and worked closely with Crainich during the loan process. Photo Caption: Eric Crainich, Liz Sweeney of CRDC and Lawrence Crainich attended the SBA Awards Luncheon held in Nashua on May 17, 2012. en-us $date CRDC is Helping Businesses Survive, Emerge and Succeed http://www.lianaishouce.cn/news.html?news_id=26&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Five months into CRDC's fiscal year and the organization is helping New Hampshire鈥檚 economy during these challenging times. According to Stephen Heavener, CRDC's Executive Director, CRDC has successfully financed six businesses around the state in towns like; Claremont, Hooksett, Concord and Boscawen. -------------------------------------------------------------------------------- Total lending to date since October 1, 2011 is $1,989,000. Direct loans: $300,000 SBA 504: $1,689,000 --------------------------------------------------------------------------------- "Perhaps the most important aspect of our loan closings is our banking partners," says Heavener, "which include; Centrix Bank, Hampshire First Bank, Mascoma Bank, Merrimack County Savings and St. Mary鈥檚 Bank. All of whom see the value of CRDC鈥檚 mission and our expertise with SBA 504. Our loan officers work hard to ensure the interests of the banks and their customers are met. We are proud to be an extension of their lending team. We play a critical role in assisting with the state鈥檚 economic recovery." en-us $date CRDC Executive Director, Stephen Heavener Talks with the Concord Monitor on New Loan Opportunites for Environmental Cleanup http://www.lianaishouce.cn/news.html?news_id=25&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Concord Monitor Featured Monday January 23, 2012 en-us $date CRDC Executive Director, Stephen Heavener Meets with President Obama http://www.lianaishouce.cn/news.html?news_id=24&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Written from the desk of Stephen Heavener While visiting New Hampshire on November 22nd, President Barack Obama delivered an address at Central High School in Manchester, NH, and I was invited along with almost 35 other New Hampshire leaders, to attend the speech and participate in a "meet and greet" with the President. Even though my position is non-partisan, I was deeply honored to be included in this exclusive group, which included Mayor Jim Bouley, Senator Sylvia Larsen and former Congressman Paul Hodes. During the President's speech, our group was invited to stand just to the side of the stage, which was an invaluable privilege and a unique perspective. Although his speech touched on many relevant topics, the American Jobs Act was a central theme, and certainly struck home with the supporters in the crowd. As the Executive Director of the Capital Regional Development Council, the economic development outcomes from President Obama's initiatives are critical to our continued operations and success. As an added value, I was thrilled to have significant time to interact with professional colleagues, such as Jeanne Hulit, the regional administrator for the US Small Business Administration, and Curt Spalding, the regional administrator for the US Environmental Protection Agency. Immediately following the speech, President Obama and I shared a few minutes of private conversation while we waited for our photo opportunity. As an advocate for economic development services for business and local government in New Hampshire, I utilized this opening to speak with President Obama about the Capital Regional Development Council's lending programs and the need for Congress to extend the eligibility of the refinancing of existing commercial debt by the Small Business Administration 504 Program beyond the September 30th sunset. He agreed that it should be extended as part of his overall ongoing initiatives to stimulate the economy. This brief conversation is one that I will always remember fondly, both for the economic development perspective as well as the personal encounter with a respected and admired public figure. As an economic development professional who has worked in seven states over the past 30 years, I am grateful to have been present for an address so pertinent to my expertise. For the Capital Regional Development Council, President Obama's support of our lending programs to facilitate job growth and private sector investment is invaluable. Over the next year, I look forward to additional opportunities to participate in more detailed events that are relevant to my position and experience. en-us $date CRDC featured in Union Leader Business Section: http://www.lianaishouce.cn/news.html?news_id=23&module_params[name]=news&module_params[mode]=default&module_params[action]=detail New Hampshire's largest newspaper, The Union Leader featured CRDC for its outstanding loan development in 2011. In the interview with CRDC Executive Director, Stephen Heavener - Stephen points out the loans were closed with 11 different New Hampshire Banks, which is a clear indication of CRDC's value to the banking and finance industry in the state. CRDC also contributed to the State's job growth with an 11% increase over 2010. To read the full article click here en-us $date CRDC through its Creative Financing Solutions Helps the NH Economy with Jobs and Loan Development http://www.lianaishouce.cn/news.html?news_id=22&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CRDC announced its financial results for fiscal year ending September 30, 2011. The report is highlighted by solid loan growth despite a down economy, increase in creation and/or retention of jobs and an increase in approved SBA 504 lending giving CRDC the number two ranking in licensed New Hampshire SBA Community Development Companies 鈥?a jump from fourth in 2010. 鈥淚n addition to providing direct lending, CRDC works closely with New Hampshire banks to provide gap funding which often times comes in the form of SBA 504 lending,鈥?says Stephen Heavener, CRDC Executive Director. 鈥淒espite a challenging economic time, we had a successful year with $4,489,305 in closed loans. This does not account for the pending closings dated after September 30th. I attribute the success to the diligent work of our loan officers; Elizabeth Sweeney and Jennifer Boulanger, our established relationships within the banking industry combined with CRDC鈥檚 strong reputation that our loan products are very competitive and necessary for banks to draw upon to enable growing companies to borrow.鈥? 鈥淣ew Hampshire has many innovative business owners that are seeking to grow their business but need some financial assistance,鈥?said Elizabeth Sweeney, CRDC Senior Loan Officer. 鈥淢y biggest joy is to work with these owners, and match their needs with our direct lending products or to be there to provide gap funding solutions in conjunction with their bank.鈥? The report released at CRDC鈥檚 Annual Meeting of Board Directors, and invited guests on November 9, highlights CRDC鈥檚 work in the creation and/or retention of New Hampshire jobs. In 2011, 130 jobs were the direct result of CRDC鈥檚 loan development, that鈥檚 an 11% increase from the previous year. 鈥淎s a mission-driven non-profit we are focused on offering financing programs that result in private sector job retention and creation,鈥?said Jennifer Boulanger CRDC Loan Officer. 鈥淭he majority of these jobs were in the hospitality and information technology industries further proving CRDC鈥檚 value to New Hampshire鈥檚 economy.鈥? Click here to download the 2011 Annual Report http://www.lianaishouce.cn/default/resources.html en-us $date CRDC Recognizes Merrimack County Savings Bank, and Mary Jane Ricker of Laconia Savings Bank at Upcoming Annual Meeting http://www.lianaishouce.cn/news.html?news_id=21&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Capital Regional Development Council (CRDC) is pleased to announce two awards will be presented at its Annual Meeting of Board Members and invited guests to be held on November 9, at the Audubon Society, in Concord. The first award will salute Merrimack County Savings Bank as CRDC鈥檚 Bank of the Year. The award according to CRDC Executive Director, Stephen Heavener is based on the total number of loans referred to CRDC in the fiscal year ending September 30. 鈥淐RDC is a non-profit development corporation, and relies heavily on our relationships within the banking industry to achieve our mission,鈥?says Heavener. 鈥淢errimack County Savings Bank believes in CRDC and the work we do to facilitate economic development. We work closely with many New Hampshire banks, but clearly Merrimack Savings Bank is a lead supporter of our work at CRDC and we recognize their support through this award.鈥?Merrimack County Savings Bank President, Paul Rizzi applauds CRDC for its mission, 鈥淐RDC is an integral part of our state鈥檚 economic development. Their programs often provide our banking customers with the gap funding they need to proceed with their business goals. CRDC is a true partner for the Merrimack, and we appreciate the work they do for our customers.鈥?Rizzi is expected to accept the award on behalf of the Bank at the November 9 reception. CRDC will also celebrate the dedication and support of Mary Jane Ricker, of Laconia Savings Bank as the 2011 Commercial Lender of the Year. The award is solely based on the dollar volume produced together by a commercial lender and CRDC. 鈥淲e look forward to celebrating Mary Jane鈥檚 dedication to CRDC and her commitment to her banking customers through this award. She introduces our financial options such as our SBA 504 Lending or New Market Tax Credits as gap funding options to her customers,鈥?says Heavener. 鈥淪he is a direct link to CRDC鈥檚 financial success this year and we applaud her for her strong commitment to not only us, but ultimately to her banking customers.鈥? 鈥淢ary Jane is a seasoned commercial lender with us at Laconia Savings Bank and the one thing we all know about Mary Jane is that she advocates strongly for her customers,鈥?says Louis H. Guevin, Jr., Executive VP of Commercial Services at Laconia Savings Bank. 鈥淪he works hard to ensure her customers are offered the best loan products that fit their business needs, and it鈥檚 clear she taps into all resources like that of CRDC to make that possible.鈥? Ricker is a Senior Vice President and Team Leader in the Commercial Services Group and works closely with CRDC鈥檚 Senior Loan Officer and Economic Development Associate, Elizabeth Sweeney and CRDC Loan Officer, Jennifer Boulanger. en-us $date Concord Monitor:CRDC assists the Town of Bow with Economic Development Consulting http://www.lianaishouce.cn/news.html?news_id=20&module_params[name]=news&module_params[mode]=default&module_params[action]=detail CONCORD MONITOR Monday, October 24, 2011 By: Tricia L. Nadolny - Monitor Staff Town prepares to attract business Water development project nearly done As Bow's water development project nears completion, town officials are preparing to aggressively market the updated Route 3A corridor with hopes of having businesses interested when the system goes online this spring. Nearly 10 years after voters approved funding for the development, Town Manager David Stack said he is eager to see the project's original vision - of building industry and expanding Bow's tax base - become a reality. "We're starting to get the word out that we're here," Stack said. "And we have water." Stack said crews are expected to begin testing the newly laid water mains between Johnson and Vaughn Roads this winter, with the water supply ready for hookups in the spring. Since starting construction last November, the town has also begun work to replace the pump stations at Hall Street and River Road. The project's original conception, which voters approved $12.5 million in funding for in 2002, also included installing a sewer system in the area. But in 2010 the selectmen realized the project's price tag had raised substantially and voted to shrink the sewer portion of the project, with crews laying some sewer pipes but not connecting them to the Hall Street pump station, according to Stack. Stack said the town plans to finish the sewer expansion, which would cost about $3.5 million, in the future, but he added that demand will dictate that timeline. To build development interest in the area, Stack said the town will soon unveil a new economic development section on its website, which will provide maps and site information to interested businesses. Stephen Heavener, executive director of the Capital Regional Development Council, said he believes the area could be ideal for light manufacturing firms with about 50 employees. He said Bow has also identified a few locations where large distribution centers of up to 200,000 square feet could be built. Heavener said he sees most outside growth coming from companies in Massachusetts, New York, Connecticut and New Jersey that are looking to expand or move into a better tax environment. Heavener, who said the CRDC has acted as an economic development consultant to Bow for several years, noted that projects like this take substantial time to build. But he's hopeful between six and 12 developments, totaling $10 million to $20 million in investment, can be secured in the next five years. While outside recruitment is an important part of that equation, Heavener and Stack both said growth of existing businesses should make up a majority of the area's new jobs in coming years. For that reason, the town is also starting a substantial campaign to meet with every business in Bow and hear about any future expansion plans owners might have, Stack said. "Your best source of new business is from an existing client," said Harry Judd, chairman of the board of selectmen. "We're doing that outreach, (asking) what we've done right what we could have done better and what we can do to make our business community grow." Stack and Judd began those meetings this week and both said they hope to continue scheduling appointments with other businesses, with the ultimate goal of securing investments before the new water mains go online. "We hope to get folks lined up so they'd be ready to rock and roll a soon as we have the water," Judd said. (Tricia L. Nadolny can be reached at 369-3306 or tnadolny@cmonitor.com.) Click the link to the article: http://www.concordmonitor.com/article/287748/town-prepares-to-attract-business?CSAuthResp=1319474873%3A3b21adca136981ce4ua2f7so97%3ACSUserId%7CCSGroupId%3Aapproved%3AAB3992C8089F2541A7871E8A1D6A824E&CSUserId=94&CSGroupId=1 聽 en-us $date CRDC Featured on WMUR-TV http://www.lianaishouce.cn/news.html?news_id=18&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Stephen Heavener, CEcD, EDFP, Executive Director, CRDC, was recently a guest on NH's Business, a weekly business segment featured on WMUR-TV. Discussion focused on the success of CRDC's loans this year to date, the jobs created from these loans and an overview of CRDC's mission. Click here to watch the full interview: http://www.wmur.com/video/29489473/detail.html en-us $date CRDC Receives $750,000 from USDA & Assists 10 Local Businesses http://www.lianaishouce.cn/news.html?news_id=19&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Capital Regional Development Council, CRDC, was awarded a $750,000 loan from the U S Department of Agriculture鈥檚 Rural Development Intermediary Relending Program (IRP) today. A total of 18 economic development organizations were awarded $10,650,000 throughout the US from this highly competitive program. Three loans were awarded to New Hampshire Regional Development Corporations. In addition to CRDC, the Grafton County EDC was awarded a $500,000 loan and the Monadnock EDC was also awarded a $500,000 loan. This is the second $750,000 loan awarded to the Capital Regional Development Council. The initial award was made in early 2008. CRDC used those funds to assist ten businesses with loans to finance growth. CRDC deploys the IRP throughout Sullivan, Merrimack and Hillsborough Counties to businesses located in communities of fewer than 25,000 population. This is the second Federal award received by CRDC in 2011. In June, the U S Environmental Protection Agency awarded a $1.0 million Brownfields Revolving Loan Fund grant to CRDC to assist with the clean-up and remediation of environmentally impacted sites throughout Merrimack and Hillsborough Counties. The Capital Regional Development Council is a non-profit development corporation that provides a variety of economic development services to businesses and local governments throughout New Hampshire. The Capital Regional Development Council is a mission driven non-profit focused on offering programs that result in private sector job creation and local property tax base enhancement. en-us $date CRDC ANNOUNCES COLLABORATION DESIGNED TO ASSIST NEW HAMPSHIRE鈥橲 BUSINESSES http://www.lianaishouce.cn/news.html?news_id=17&module_params[name]=news&module_params[mode]=default&module_params[action]=detail The Capital Regional Development Council, CRDC, has announced a new collaboration with BDC Capital Corporation and New England Certified Development Corp. The collaboration is designed to bring needed capital and outreach to small and mid-size businesses located in New Hampshire. 鈥淏DC is a New England wide loan and investment company with more than $600 million invested in companies around the six state region,鈥?according to Stephen Heavener, Executive Director of CRDC. 鈥淭hey bring a wide range of financing resources to our local clients including revolving lines of credit, SBA term loans, and mezzanine investment. Like CRDC, they are a successful New England based SBA 504 lender. CRDC plans to work with BDC to bring all of these financing options to companies in New Hampshire to complement the lending tools CRDC already offers.鈥? 鈥淐RDC is a well-respected local lender throughout New Hampshire and we welcome the opportunity to work with them鈥?says Ken Smith, President of BDC Capital. 鈥淐RDC is well known to New Hampshire bankers and they have helped many area businesses expand through their SBA 504 loan and other direct loan programs.鈥?鈥淪tephen Heavener and the CRDC lending staff that includes Liz Sweeney and Jennifer Boulanger, are really committed to expanding CRDC鈥檚 mission to help businesses. We met at a regional small business conference and he presented a compelling case that we should open an office in Concord and partner with them to assist New Hampshire businesses.鈥? BDC and its affiliate, New England Certified Development Corp., are sharing office space with CRDC at 91 North State Street in Concord. Mr. Raymond Dugdale, a Vice President with more than 25 years of small business lending experience, will work from the Concord office. 鈥淚 started my outreach efforts last week,鈥?reports Mr. Dugdale. 鈥淚 am interested in getting out and working with small business owners to see how we can be of help to them in solving their financing problems. Last year alone we delivered more than $100 million in financing to New England companies and I am optimistic that this collaboration with CRDC will bring a good portion of that here to New Hampshire.鈥? For more information: Stephen Heavener, CRDC Executive Director, CRDC 603/369-6000. 聽 en-us $date State of Concord's Business Climate http://www.lianaishouce.cn/news.html?news_id=1&module_params[name]=news&module_params[mode]=default&module_params[action]=detail August 2010 The State of Concord's Business Climate NHBR en-us $date Bow Water and Sewer Project http://www.lianaishouce.cn/news.html?news_id=2&module_params[name]=news&module_params[mode]=default&module_params[action]=detail June 2010 Bow Water and Sewer Project Goffstown News en-us $date Growth in Sullivan County http://www.lianaishouce.cn/news.html?news_id=3&module_params[name]=news&module_params[mode]=default&module_params[action]=detail Summer 2010 Growth in Sullivan County Eagle Times en-us $date 日本亚欧乱色视频在线_农村妇女野外牲交视频_中文无码肉感爆乳在线