Central New Hampshire Focus, Statewide Reach!
The Capital Regional Development Council and its partners provide creative
small business financing solutions, not just products.
Loans Approved and Closed FY 2010 and 2011
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"When our business needed to vacate the building that we were leasing, on a very short notice ( 3 months), we had to acquire a larger building and needed to do so in a timely fashion. We contacted CRDC…"
The Capital Regional Development Council approved and funded 16 loans to growing New Hampshire small businesses in the fiscal year ending September 30, 2011. The total amount lent was $4,489,305.
Barber Studio and School – Penacook, NH
Project: Renovations to Land and Building |
Food Production Facility - Concord, NHProject: Purchase of EquipmentTotal Project Cost: $44,100 CRDC Direct Loan: $44,100 |
Grocery and Cafe - Concord, NHProject: RefinanceTotal Project Cost: $139,205 CRDC Direct Loan: $139,205 |
Manufacturer of Fiber Optic Cable - Concord, NH
Project: Purchase of Land and Building |
Construction Contractor - Bow, NHProject: Purchase of Land and BuildingTotal Project Cost: $235,000 CRDC Direct Loan: $94,000 |
Country Store and Gas Station - Grafton, NH
Project: Purchase of Land and Building |
Hospitality - Hotel/Motel - Tilton, NH
Project: Purchase of Land and Building |
Construction Contractor - Hopkinton, NHProject: Purchase of Land and BuildingTotal Project Cost: $208,000 CRDC Direct Loan: $90,000 |
Manufacturer - Machine Shop - Concord, NH
Project: Purchase of Land and Building |
Gas Station and Convenience Store - New Hampton, NH
Project: Purchase of Land, Construct Building |
Automotive Repair and Restoration - Goffstown, NH
Project: Purchase of Land and Building |
Dentist Office – Concord, NHProject: Purchase of Land and BuildingTotal Project Cost: $790,000 CRDC Direct Loan: $40,000 |
Hospitality - Restaurant - Belmont, NH
Project: Expansion and Renovations |
Construction Development - Claremont, NHProject: Development CostsTotal Project Cost: $2,550,000 CRDC Direct Loan: $150,000 |
Manufacturer - Machine Shop - Newport, NH
Project: Purchase Equipment |
Retail - Auto Parts - Tilton, NHProject: Purchase of Land and BuildingTotal Project Cost: $850,000 CRDC SBA 504 Loan: $361,000 |
The Capital Regional Development Council approved and funded 18 loans to 14 companies in the fiscal year ending September 30, 2010. The total amount lent was $4,058,449.
Truck Repair – Bow, NH
Project: Building purchase |
Daycare – Bow, NHProject: New facility constructionTotal Project Cost: $1,298,000 CRDC SBA 504 Loan: $516,000 CRDC Direct Loan: $150,000 |
Auto Sales– Epsom, NHProject: Purchase of real estate.Total Project Cost: $680,000 CRDC SBA 504 loan: $232,000 |
Family Entertainment Center – Chichester, NHProject: Expansion of an existing businessTotal Project Cost: $1,401,000 CRDC SBA 504 Loan: $333,000 CRDC SBA 504 Stimulus Loan: $235,000 |
Manufacturing – Newport, NHProject: Purchase of a new buildingTotal Project Cost: $600,000 CRDC SBA 504 loan: $242,000 CRDC Direct Loan: $60,000 |
Motorcycle Sales – Pembroke, NH
Project: Purchase of a second building to accommodate growth |
Manufacturing – Claremont, NH
Project: Refinanced the outstanding balance of a 2004 direct loan to the company originally used to purchase and expand an industrial building |
Manufacturing – Charlestown, NHProject: Provided financing to assist the growing medical devices manufacturer expand and improve an industrial buildingTotal Project Cost: $2,222,000 CRDC SBA 504 loan: $898,000 |
Manufacturing– Bow, NH
Project: Provided financing to assist with the acquisition of an existing business. CRDC financed portions of the real estate and assets |
Pharmacy-Warner, NH
Project: Financing the purchase of an existing Main Street building to house a new pharmacy |
Restaurant– Concord, NH
Project: Provided financing to assist an experienced Lake’s Region based restaurant open a new 9,800 sf, 200 seat restaurant in downtown Concord. |
Food Processing – Concord, NHProject: The business provides a product line of both home baked turkey/vegetable pies and a variety of organic foods. In order to implement a new fresh product line, CRDC provided a permanent working capital loan.Total Project Cost: $250,000 CRDC Direct loan: $100,000 |
Developer-Concord, NH
Project: Provided a short term loan to a seasoned local developer to support critical up-front soft costs prior to the closing on the larger New Market Tax Credit financing package. These costs included utility relocation, design costs from the design-build firm, relocation costs and professional fees. The project is located in the area of Concord, known as the Opportunity Corridor, for which CRDC has a specific loan funs designated for the redevelopment of the downtown and its business district, both to enhance the city’s tax base and improve aesthetics.
Total Project Cost: $18,800,000
CRDC Direct loan: $175,000
Health Center-Plymouth, NH
In 2006, CRDC constructed a 19,000 s.f. building in Plymouth for lease to a growing regional health center using New Market Tax Credits financing. The total project financing was $3,864,700. In addition to New Market Tax Credit financing CRDC secured funds from CDBG, CDFA (CDIP), and USDA Rural Development (RDLEG). A final financing component of the project was a direct loan of $71,100 from CRDC which was outside of the NMTC financial package with interest to accrue for seven years. The building was leased to the health center during the 7-year New Market term with the intent to transfer ownership to it during the seven year term when it determined it was financially able to do so. In September, 2010, the transfer was completed. An existing $115,000 CRDC loan remains a component of the NMTC total financing package and cannot be retired until the 7-year term expires in 2013.
The $71,100 loan plus accrued interest of $23,849.24 was refinanced on a 36 month amortization schedule at an annual interest rate of 5.0 percent. The new debt will be serviced monthly.
Total new financing: $94,949.24.
Total Initial Project Cost: $3,864,700
Funding Sources:
Bank: $2,653,600
CRDC Direct loan: $115,000
CDBG: $415,000
USDA RDLEG: $360,000
CDFA: $250,000
CRDC Loan: $71,100 (outside of approved NMTC financing model)