AUGUSTA — Seth Goodall, Region 1 administrator and Marilyn Geroux, Maine’s district director, traveled to Aroostook County this week to visit with area economic development professionals and lenders to discuss Small Business Administration programs, lending, and the business climate of Northern Maine during round table discussions.
While there, Goodall visited businesses that had used SBA-guaranteed loans to grow including the SBA’s Young Entrepreneur of the Year for Maine and New England in FY 2012, Cory Laplante of Northern Prosthetics, Inc. in Presque Isle, and 52 Academy Street, LLC (also in Presque Isle) which will house Northern Physical Therapy and Rehab Services, a customer of Katahdin Trust Company in the process of building a new facility with the assistance of a 504 loan that will provide space for their physical and occupational therapists to work with area athletes.
Goodall also had the pleasure of addressing the Houlton Rotary Club on Monday afternoon.
Administrator Goodall took this opportunity to recognize Katahdin Trust Company as Maine’s highest 7(a) dollar volume lender for FY 2013 while also finishing as the second highest overall lender in the state. In addition, Goodall recognized NorState Federal Credit Union for their impressive finish as the third highest overall lender based upon loan volume and the highest credit union dollar and 7(a) loan volume lender for the state of Maine.
“Aroostook County lenders have shown tremendous commitment to SBA lending and small businesses in general through their use of our guaranteed loan programs,” Goodall said.
“In our last fiscal year, Aroostook County had the second highest number of SBA-guaranteed loans for any county in the state in a year that saw the SBA inject more than $110 million dollars into small businesses through our loan guarantee and micro-loan programs.” Goodall went on to explain.
Administrator Goodall’s visit was capped with a meeting with Northern Maine Development Commission of Caribou, one of the agency’s leading mico-lenders in the state of Maine that also happens to be one of three designated Community Advantage lenders for Maine.
