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Financial Development Officer Matthew Norton departs SEDC after a year of service. He moves onto the NH Community Loan Fund where he will serve as Business Lender.
News Archive:
On June 21, 2018, Cocheco Valley Humane Society broke ground on their new facility being built on County Farm Road in Dover. We are proud to facilitate this venture through our role as a financing partner alongside Kennebunk Savings and Federal Savings Bank.
The new facility will increase the nonprofit humane society's capacity and capability in caring for animals in need here in Strafford County and Seacoast New Hampshire. SEDC customer and director Mark Wentworth, founder and president of Green View Technologies in Rollinsford, has been named the U.S. Small Business Administration’s 2018 Small Business Person of the Year in New Hampshire, first and foremost of awardees statewide.
Wentworth launched Green View Technologies, a “re-refinery” for used oils, in 2010 with $4 million in SBA financing through Enterprise Bank and $1.5 million in funding through SEDC. The company employs 15 people and processes over 4 million gallons of oil annually. An expansion planned this year has the goal of doubling GVT’s current output. Subsequent to the yearlong process of SEDC lining up the financing that leveraged the bank funds into the project, Mark became fascinated by the role SEDC plays in assisting businesses and became the Rollinsford representative on the SEDC Board of Directors. In December of 2017 our successful efforts to obtain and sell tax credits to fund a new position at SEDC were featured in a piece posted by ReThink Health in Cambridge, Massachusetts. By selling tax credits awarded by the New Hampshire Community Development Finance Authority, SEDC was able to establish a new position to assist Strafford County regional treatment and recovery centers to connect with funding to build capacity, much needed infrastructure, and support organizational stability.
ReThink Health proposes that this method of financing health initiatives be adopted to fund other regional health initiatives. We thank ReThink Heath and Amanda McIntosh for their acknowledgement and recognition of our efforts in the region! In March of 2018, Hope on Haven Hill in Rochester closed on financing to purchase the facility they operate in located on Rochester Hill Road. SEDC located low fixed-rate financing and acted as a liaison throughout the process. We connected Hope on Haven Hill with New Hampshire Health and Education Finance Authority and assisted with loan application and closing processes.
Congratulations to Hope on Haven Hill! Click here to read about the successful relocation of a Portsmouth tool and die business.
Congratulations to North East Cutting Die and thanks to Dan Grey of Coastal Economic Development Corporation for the referral! Stephanie Benedetti is a Financial Development Officer at SEDC. Stephanie will assist in the development of Strafford county’s main street businesses and small business development throughout the area.
Prior to joining SEDC, Stephanie’s area of expertise comes from financially managing government funded private engineering, construction, and planning development projects. As the former business and financial manager of an architectural cost construction firm in New York City, she brings an extensive amount of financial, small business planning, and community development knowledge to the organization. Stephanie holds her BS in Business Management with a minor in Accounting from SUNY at Farmingdale. Katherine Clarcq is the Portfolio Administrator at SEDC. Clarcq manages customer loans and works with our customers on a regular basis by providing them assistance with their loans as needed. Clarcq's background is in accounting and includes working as a performance and financial auditor for the State of New Hampshire.
Clarcq is a CPA and received her MPA (Master of Public Administration) from the University of Connecticut. Dennis H. McCann is the Executive Director of Strafford Economic Development Corporation of New Hampshire. McCann has over 20 years of experience in economic and community development finance. In 1997, he was hired to start up the operations of SEDC. Now, SEDC has one of the largest revolving loan funds in the state, both in dollar volume and number of loans. Prior to SEDC, he was Economic Development Specialist for the NH Community Development Block Grant Program. There, he was involved in $50,000,000 worth of projects in 43 communities.
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Strafford edc
AuthorEDBy the SEDC Team. Archives
September 2018
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