September 22, 2022 – The New Hampshire Business Finance Authority (BFA) is pleased to announce a New Hampshire business will receive a loan through a new lending program to help small businesses grow in the post-pandemic economy. The funds are being deployed by the BFA through the U.S. Treasury Department’s State Small Business Credit Initiative.
The River Valley Club, a 9,000 square-foot health fitness facility along with FitKids, a childcare facility in Lebanon, will receive $7.5MM for facility improvements. The fitness club offers indoor tennis, pools, spa and exercise rooms in addition to the cardio and weight training. FitKids is listed as a ‘licensed plus’ daycare provider on the NH quality rating system, the only program with this designation in the Lebanon/Hanover area for 188 children.
The loan, made in partnership with Ledyard National Bank, will expand and modernize the facilities so the daycare can add space for another 60 children.
“There are no other facilities in the area that provide the breadth of services available at River Valley Club,” stated James Key-Wallace, Executive Director of the New Hampshire Business Finance Authority. “These funds will allow both the River Valley Club and FitKids to increase capacity, add more jobs and provide much-needed childcare services to the residents of the Upper Valley. The BFA is proud to provide the necessary capital so that they can continue to grow and support New Hampshire families.”
Other companies interested in applying for a BFA loan should reach out to their local banking institution to see if they qualify. For more information about BFA programs and resources, please visit www.NHBFA.com.
About the NHBFA
The Business Finance Authority (BFA) was created to foster economic development and create employment in New Hampshire. The BFA accomplishes these objectives by working with New Hampshire’s banking, business, and economic development sectors to expand the availability of credit in the state. Our customers include manufacturers, small and medium-sized businesses, high-growth industries, health providers, and non-profit educational and cultural organizations.