Agenda
The regular meeting of the Board of Directors is scheduled for Monday, July 20, 2020 at 2:00 p.m., 2 Pillsbury Street, Suite 201, Concord, New Hampshire.
- Introduction of Board Members.
- Approval of Minutes for the Board Meeting of June 15, 2020.
- Month End Financial Reports
- Lending Reports
- CAP Monthly Loan Report
- CAP Statistics/Demographics
- Capacity Report
- Executive Director’s Report
- Nonpublic Session
- Other Business
Minutes
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:20 p.m. at 2 Pillsbury Street, Suite 201, Concord, New Hampshire. The following Directors were present: Dick Anagnost, Jeffrey Hayes, Monica Mezzapelle, Charles Withee, Stephen Duprey, Matthew Benson, and Nancy Merrill. Also present were: Senator Jeanne Dietsch, Senator Bob Giuda, James Key-Wallace, Executive Director and Clerk; Chris Kreidermacher, Chief Financial Officer; Jeremy Stanizzi, Senior Credit Officer; Meagen Kerris, Administrative Assistant, John Stoecker, National Finance Authority; and Kris Moussette, Hinckley Allen & Snyder. Absent were: Representative Kermit Williams, Representative Laurie Sanborn, and Catherine Provencher.
Chairman Anagnost announced the meeting was open to the public and welcomed all present.
The Chairman asked the Board to consider a request from Millyard Bank and Sabbow & Co., Inc. for up to an 80% guarantee of a loan for $775,000 and the associated resolutions under the Guarantee Asset Program (GAP).
Upon motion made by Director Withee and seconded by Director Hayes, the following action was voted on:
VOTED: To approve the request from Millyard Bank and Sabbow & Co., Inc. for up to an 80% guarantee of a loan for $775,000 and the associated resolutions under the Guarantee Asset Program (GAP).
The following named directors voted:
Aye: Dick Anagnost, Monica Mezzapelle, Jeffrey Hayes, Stephen Duprey, Matthew Benson, and Nancy Merrill.
Nay: None. Abstain: Charles Withee.
Where upon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider a request from Millyard Bank and Sabbow & Co., Inc. for up to an 80% guarantee of a loan for $2,640,000 and the associated resolutions under the Guarantee Asset Program (GAP).
Upon motion made by Director Withee and seconded by Director Hayes, the following action was voted on:
VOTED: To approve the request from Millyard Bank and Sabbow & Co., Inc. for up to an 80% guarantee of a loan for $2,640,000 and the associated resolutions under the Guarantee Asset Program (GAP).
The following named directors voted:
Aye: Dick Anagnost, Monica Mezzapelle, Jeffrey Hayes, Stephen Duprey, Matthew Benson, and Nancy Merrill.
Nay: None. Abstain: Charles Withee.
Where upon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider a request from Millyard Bank and Sabbow & Co., Inc. for up to an 80% guarantee of a loan for $1,720,000 and the associated resolutions under the Guarantee Asset Program (GAP).
Upon motion made by Director Withee and seconded by Director Hayes, the following action was voted on:
VOTED: To approve the request from Millyard Bank and Sabbow & Co., Inc. for up to an 80% guarantee of a loan for $1,720,000 and the associated resolutions under the Guarantee Asset Program (GAP).
The following named directors voted:
Aye: Dick Anagnost, Monica Mezzapelle, Jeffrey Hayes, Stephen Duprey, Matthew Benson, and Nancy Merrill.
Nay: None. Abstain: Charles Withee.
Where upon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider a request from Millyard Bank and Sabbow & Co., Inc. for up to an 50% on a Working Capital line of credit guarantee for $1,500,000 and the associated resolutions under the Working Capital Guarantee Program (WAG).
Upon motion made by Director Withee and seconded by Director Hayes, the following action was voted on:
VOTED: To approve the request from Millyard Bank and Sabbow & Co., Inc. for up to an 80% guarantee of a loan for $1,500,000 and the associated resolutions under the Working Capital Guarantee Program (WAG).
The following named directors voted:
Aye: Dick Anagnost, Monica Mezzapelle, Jeffrey Hayes, Stephen Duprey, Matthew Benson, and Nancy Merrill.
Nay: None. Abstain: Charles Withee.
Where upon the Chairman declared said resolution adopted.
The Chairman asked for approval of the minutes for June 15, 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 June 15, 2020 Board Meeting.
The following named directors voted:
Aye: Dick Anagnost, Monica Mezzapelle, Jeffrey Hayes, Charles Withee, Stephen Duprey, Matthew Benson, and Nancy Merrill.
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. Kreidermacher to review the FY 2021 Budget Review.
The Chairman asked Mr. Stanizzi to review Lending Reports.
The Chairman asked Mr. Key-Wallace to present the Director’s Report.
There being no further business and upon motion made by Director Duprey and seconded by Director Withee, the meeting was adjourned at 2:35 p.m.
Respectfully submitted:
James Key-Wallace
Clerk