The regular meeting of the Board of Directors is scheduled for Monday, October 21, 2019 at 2:00PM, Pillsbury Meeting Room, 2 Pillsbury Street, Concord, New Hampshire.
Agenda
- Introduction of Board Members.
- Approval of Minutes for the Board Meeting of September 16, 2019.
- To consider approving a request from Millyard Bank to execute the standard contract entitled “Capital Access Program: Lender Participation Agreement” and to participate in the Authority’s Capital Access Program.
- Carew and Wells will discuss the BFA’s June 30, 2019 year-end audit.
- Month End Financial Reports – William C. Rushforth
- Lending Reports
- CAP Loan Report – September 2019
- Available Capacity by Program
- Executive Director’s Report.
- Nonpublic Session.
- Other Business.
Minutes
Business Finance Authority
October 21, 2019
Concord, New Hampshire
The meeting of the Board of Directors of the Business Finance Authority (“BFA”) was called to order at 2:24 p.m. at 2 Pillsbury Street, Pillsbury Meeting Room, Concord, New Hampshire. The following Directors were present: Dick Anagnost, Bill Dwyer, Daniel Henderson, Jeffrey Hayes, Nancy Merrill, Senator Jeanne Dietsch, Directors Stephen Duprey, Matthew Benson, Director Charles Withee, and Representative Kermit Williams. Also present were: James Key-Wallace, Executive Director and Clerk; Jeremy Stanizzi, Senior Credit Officer; Meagen Kerris, Administrative Assistant; Randi Hudon, Interim Administrative Assistant, John Stoecker, NFA; and Antonio Martini, Hinckley Allen & Snyder. Absent were Catherine Provencher, Senator Bob Giuda, Representative Laurie Sanborn, and William Rushforth, Chief Financial Officer.
Chairman Anagnost announced the meeting was open to the public and welcomed all present.
The Chairman asked for approval of the minutes September 16, 2019 Board Meeting.
Upo motion made by Director Merrill and seconded by Director Dwyer, the following action was unanimously approved:
VOTED: To accept the minutes of the September 16, 2019 Board Meeting.
The following named directors voted:
Aye: Dick Anagnost, Bill Dwyer, Daniel Henderson, Jeffrey Hayes, Nancy Merrill, Stephen Duprey, Charles Withee, and Matthew Benson. Nay: None. Abstain: None.
Whereupon the Chairman declared said resolution adopted.
The Chairman asked the Board to consider a request from Millyard 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 Duprey and seconded by Director Withee, the following action was approved:
VOTE: To approve the request from Millyard Bank to execute the standard contract entitled “Capital Access Program: Lender Participation Agreement” and to participate in the Authority’s Capital Access Program.
The following named directors voted:
Aye: Dick Anagnost, Bill Dwyer, Daniel Henderson, Jeffrey Hayes, Nancy Merrill, and Charles Withee. Nay: None. Abstain: Stephen Duprey and Matthew Benson.
Whereupon the Chairman declared said resolution adopted.
The Chairman asked Mr. Key-Wallace to review the month end financial report.
Karen Carew from Carew & Wells, CPA entered the meeting and reviewed the Business Finance Authority’s financial audit.
The Chairman asked Mr. Stanizzi to review the loan reports.
Karen Carew from Carew & Wells, CPA departed the meeting.
The Chairman asked Mr. Key-Wallace to present the Director’s Report.
The Chairman asked the Board to consider a request from Capital Regional Development Council (CRDC) for up to a $500,000 line of credit increase under the Aid to Local Development Organizations (ALDO).
Upon motion made by Director Withee and seconded by Director Merrill, the following action was voted on:
VOTE: To approve the request from Capital Regional Development Council (CRDC) for up to a $500,000 line of credit increase under the Aid to Local Development Organizations (ALDO).
The following named directors voted:
Aye: Dick Anagnost, Bill Dwyer, Daniel Henderson, Jeffrey Hayes, Nancy Merrill, Matthew Benson, and Charles Withee. Nay: None. Abstain: Stephen Duprey.
Whereupon the Chairman declared said resolution adopted.
There being no further business and upon motion made and seconded, the meeting was adjourned at 3:19 p.m.
Respectfully submitted:
James Key-Wallace
Clerk