Bradford Revolving Loan Fund 2003
The Bradford Revolving Loan Fund (BRLF) was established in 1993 with a $330,000 Community Development Block Grant from the New Hampshire Office of State Planning to the Town of Bradford. The Capital Regional Development Council (CRDC) is a Certified Development Company with the goal of economic development. CRDC underwrites and provides servicing for the Bradford Revolving Loan Fund.
Loans from the BRLF can be used for working capital, fixed assets, re-financing and debt consolidation and range from $5,000 to $100,000. Loans are available to qualified small businesses located in the primary lending area of Merrimack and Sullivan County.
Advantages of the program include:
Repayment terms for working capital up to 5 years, machinery/equipment up to 10 years, and real estate up to 20 years
To encourage rapid repayment, amortization schedules are negotiable
Collateral is negotiable, usually subordinate to bank financing
As of December 31, 2003, the fund balance was $457,479. Two loans were made during 2003 by the BRLF through CRDC. Additional funds are available for qualified borrowers.
For additional information and loan applications you can contact Niel Cannon or Jude Hamel of CRDC at 228-1872. Loan applications are also available via CRDC's web site at www.crdc-nh.com.
Current Committee Members are Harriet Douglass, Les Gordon, Laura Hallahan, Robin Steiner, Deb Sias and Mark Aldrich. Deb Sias is the bank representative and Mark Aldrich is the CRDC representative.
Respectfully submitted,
Deb Sias, Chairman
 Charles Morse cider mill late 1800's
on the corner of Center Rd and Jones Road
Picture courtesy of Sonny Harris
|
|
|
|