April 20, 2020 – BFA Board Meeting

BUSINESS FINANCE AUTHORITY BOARD AGENDA

The regular meeting of the Board of Directors is scheduled for Monday, April 20, 2020 at 2:00  p.m., Pillsbury Meeting Room, 2 Pillsbury Street, Concord, New Hampshire.

1. Introduction of Board Members.
2. Approval of Minutes for the Board Meeting of March 16, 2020.
3. To consider approving a request from First Seacoast Bank to execute the standard contract entitled “Capital Access Program: Lender Participation Agreement“ and to participate in the Authority‘ s Capital Access Program.
4. Month End Financial Reports
5. Lending Reports
   • CAP Loan Report
   • Available Capacity by Program
6. Executive Director’s Report.
7. Nonpublic Session.
8. Other Business.

Dated and mailed: April 14, 2020

Minutes

Business Finance Authority
April 20, 2020
Concord, New Hampshire

The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:00 p.m. at 2 Pillsbury Street, Pillsbury Meeting Room, Concord, New Hampshire.

The following Directors were present: Dick Anagnost, Monica Mezzapelle, Daniel Henderson, Jeffrey Hayes, Stephen Duprey, Nancy Merrill, Matthew Benson, Charles Withee. Also present were: Senator Bob Giuda, Senator Jeanne Dietsch,  James Key-Wallace, Executive Director and Clerk; Jeremy Stanizzi, Senior Credit Officer; Chris Kreidermacher, Chief Financial Officer; Meagen Kerris, Administrative Assistant; John Stoecker, NFA, and Kris Moussette, Hinckley Allen & Snyder. Absent were Catherine Provencher, Representative Laurie Sanborn, and Representative Kermit Williams.

Chairman Anagnost announced the meeting was open to the public and welcomed all present.

The Chairman asked for approval of the minutes for the March 16, 2020 Board Meeting.

Upon motion made by Director Withee and seconded by Director Merrill, the following action was approved:

VOTED:  To accept the minutes of the March 16, 2020 Board Meeting.

The following named directors voted:

• Aye:  Dick Anagnost, Nancy Merrill, Charles Withee, and Matthew Benson.
• Nay:  None.
•  Abstain: Jeffrey Hayes, Monica Mezzapelle, and Stephen Duprey.

Whereupon the Chairman declared said resolution adopted.

Director Henderson entered at 2:11PM.

The Chairman asked to consider approving a request from First Seacoast Bank to execute the standard contract entitled “Capital Access Program: Lender Participation Agreement” and to participate in the Authority’s Capital Access Program.

Upon motion made by Director Withee and seconded by Director Hayes, the following action was

approved:

VOTED:  To approve the request from First Seacoast Bank to execute the standard contract entitled “Capital Access Program: Lender Participation Agreement” and participation in the Authority’s Capital Access Program.

The following named directors voted:

• Aye:  Dick Anagnost, Nancy Merrill, Charles Withee, Jeffrey Hayes, Stephen Duprey,

Monica Mezzapelle, Daniel Henderson and Matthew Benson.

• Nay:  None.
• Abstain:  None.

Whereupon the Chairman declared said resolution adopted.

The Chairman asked Mr. Kreidermacher to review the month end financial report.

The Chairman asked Mr. Stanizzi to review the loan reports.

The Chairman asked Mr. Key-Wallace to present the Director’s Report.

At 2:48 p.m., the Chairman asked the Board to consider a nonpublic session.  The purpose of the nonpublic session was for the following reason:

Consideration of applications by the Business Finance Authority under RSA 162-A:7-10 and

RSA 162-A:13, where consideration of confidential, commercial, or financial information that is exempt from public disclosure; and matters which if discussed in public, would likely affect adversely the reputation of any person, other than a member of the public body itself.

Whereupon Director Henderson made a motion for nonpublic session and Director Merrill seconded.

The following roll call vote was taken to enter into the nonpublic session:

Director Anagnost                      yes

Director Duprey                          yes

Director Merrill                           yes

Director Henderson                    yes

Director Mezzapelle                   yes

Director Benson                          yes

Director Withee                          yes

Director Hayes                             yes

Following a vote of the Board to enter into a nonpublic session, the minutes of the nonpublic session are hereby recorded.

At 2:58 p.m., Director Henderson made a motion to come out of nonpublic session, seconded by

Director Merrill.

Aye:  Dick Anagnost, Daniel Henderson, Jeffrey Hayes, Monica Mezzapelle, Nancy Merrill, Stephen Duprey, Matthew Benson, and Charles Withee.  Nay:  None.  Abstain:  None.

Whereupon the Chairman declared said action adopted.

Director Duprey made a motion to seal the minutes of the nonpublic session because it is determined that divulgence of the information likely would affect adversely the reputation of any person other than a member of the public body itself, or render the proposed action ineffective.

Upon second made by Director Hayes, the following named directors voted:

Aye:  Dick Anagnost, Jeffrey Hayes, Daniel Henderson, Nancy Merrill, Monica Mezzapelle, Stephen Duprey, Charles Withee, and Matthew Benson.  Nay:  None.  Abstain:  None.

Whereupon the Chairman declared said action adopted.

There being no further business and upon motion made by Director Henderson and seconded by

Director Duprey, the meeting was adjourned at 3:00 p.m.

Respectfully submitted:

James Key-Wallace

Clerk