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BFA
Assistance to Local
Development Organizations
The
Business Finance Authority knows that New Hampshire municipalities and local
development organizations (LDOs) play a vital role in stimulating New
Hampshire's economic development. To assist these efforts, the BFA offers two
programs which help LDOs be more flexible and creative with their lending and
economic development efforts.
The
Secondary Market for Loans Program enables LDOs to turn over their loan
portfolio by selling their existing loans to the BFA and using the proceeds to
make additional loans. The program allows LDOs to expand their lending capacity
and meet loan requests they otherwise would not have been able to meet.
The
Aid to Local Development Organizations Program provides LDOs with additional
resources to develop and expand their local economies. When a business applies
for a loan which exceeds a LDO's capacity, the LDO may apply for additional
funding from the BFA. By helping LDOs expand their lending power, the BFA works
hand-in-hand with LDOs to foster local economic growth. For
more information on how the BFA can help build your local economy, contact your
local development organization or the Business Finance Authority at (603)
415-0190.
Eligibility
·
Any local development organization (LDO),
including municipalities, dedicated to the promotion and development of New
Hampshire business, is eligible for this program.
·
The LDO must have a detailed plan
describing how the proceeds of the loan sale will be used to develop business
and maintain or create employment opportunities (Secondary Market for Loans
Program only).
How
to Apply
·
The business applies for a loan from a
LDO. If additional funds are necessary to make the loan, the LDO applies to the
BFA, either for assistance, or to sell existing loans.
·
The terms of the loan to the business
will be determined by the LDO.
·
All applications submitted by LDOs must
receive approval from the BFA and authorization from the Governor and Council of
the State of New Hampshire.
Fees
Activity
Summary
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LOCAL
DEVELOPMENT ORGANIZATION
|
TOTAL
LOANS
|
LOAN
AMOUNT
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#
JOBS MAINT./NEW
|
|
Monadnock
Economic Development |
1 |
$3,882,584 |
252/161 |
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Rochester
Industrial Development |
2 |
$4,900,000 |
426/16 |
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Concord
Community Development |
1 |
$918,985 |
30/32 |
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Rockingham
Economic Development |
3 |
$1,306,000 |
153/195 |
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Dover
Economic Development |
5 |
$4,974,000 |
279/80 |
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City
of Portsmouth |
1 |
$617,720 |
100/NA |
|
Sullivan
County EDC |
2 |
$705,000 |
7/302 |
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Town
of Conway |
1 |
$157,188 |
NA/17 |
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Somersworth
IDA |
1 |
$125,000 |
28/12 |
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Claremont
IDA |
2 |
$500,000 |
NA/125 |
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Belknap
Economic Development |
1 |
$75,000 |
NA/NA |
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Pease
Development Authority |
1 |
$1,575,000 |
120/100 |
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Southeastern
Economic Development |
9 |
$4,650,000 |
585/104 |
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Manchester
Economic Development |
1 |
$750,000 |
18/NA |
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Derry
Economic Development |
1 |
$100,000 |
NA/16 |
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5 |
$5,817,000 |
594/1 |
| Hampton Economic Development Corp | 1 |
$3,750,000 |
425/75 |
| Grafton County Economic Dev. Council |
3 |
$2,300,000 |
NA/25 |
| Wentworth Economic Development Corp. |
1 |
$795,000 |
NA/35 |
| Berlin Economic Development Council |
2 |
$1,375,000 |
145/32 |
| Mt. Washington Valley Economic Council |
1 |
$1,000,000 |
NA/75 |
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TOTALS |
63 |
$40,213,477 |
3142/1481 |
New
Hampshire
Business Finance Authority
2 Pillsbury Street, Suite 201
Concord, NH 03301
(603) 415-0190 Fax(603) 415-0194
e-mail MikeD@nhbfa.com
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