The Vermont Economic Development Authority (VEDA) Board of Directors approved $8.5 million in financing assistance to support manufacturing, business incubator and small business projects around the state. Total costs of the projects approved for VEDA financing are $15.6 million.These loans will help expand production capacity at several existing manufacturing facilities, said Jo Bradley. In addition, new incubator space will be created for entrepreneurs who have moved beyond the early stages of commercialization, and have begun manufacturing and producing new products and services.Approved for financing by the VEDA Board are: – Autumn Harp, Inc., Essex Junction Industrial revenue bond inducements totaling $4 million were approved by the Board, enabling Autumn Harp to pursue expansion plans for the company. Autumn Harp, founded in 1978, is a private label custom manufacturer of personal care and cosmetic products for major national and international brands. The company plans to maintain operations in Bristol and will expand to a second location in Essex Junction to ensure adequate capacity for continued product diversification, and a growing customer base. Autumn Harp estimates the planned $4.6 million project would increase employment at both facilities by 50 employees over a three year period. – Vermont Center for Emerging Technologies, Inc., Colchester Financing of $1.1 million was approved, allowing the non-profit Vermont Center for Emerging Technologies (VCET) to develop a second business incubator facility in Colchester. Since 2005, VCET has operated a high-technology business incubator on a portion of the former Trinity College campus in Burlington, property now owned by the University of Vermont. The $3.1 million expansion project planned by VCET involves the purchase of 2.2 acres and a 21,000 square foot building in Colchester. The new space will provide incubator facilities to serve companies that have moved beyond initial commercialization and have begun manufacturing and producing products and services. It is expected that jobs will increase over three years from 13 at the current facility to 35 positions housed in both facilities. – Vermont Precision Woodworks, Morrisville The Board renewed a loan guarantee for up to 32% of a $1.25 million Union Bank working capital line of credit for Vermont Precision Woodworks. The VEDA-insured Union Bank line of credit will help the wood furniture manufacturer maintain its recent growth in employment at its Morrisville plant. – Vermont Quality Wood Products, Brandon The Board approved a 6-month renewal of $300,000 in mortgage insurance to guarantee a KeyBank working capital line of credit to owners of the former Vermont Tubbs furniture manufacturing firm. Vermont Quality Wood Products purchased the assets of Vermont Tubbs in 2003 as Tubbs was poised to liquidate the company and close the business. Vermont Quality Wood Products has continued operations since that date, and currently employs 105 individuals. – SecurShred, South Burlington An approved $306,000 loan will allow SecurShred, a growing document destruction company, to purchase a 10,000 square foot warehouse in South Burlington. The $850,000 project will enable SecurShred to increase its capacity and efficiency in the shredding of paper and electronic media for companies in Vermont, New Hampshire, Massachusetts and New York. SecurShred employs 10, and expects to increase that number to 14 within three years of the expansion.In addition, $1.9 million in Vermont SBA 504 Program loans were approved to support $5 million in business real estate and construction project costs. And, small business loans totaling $472,550 were approved by the Board.VEDAs mission is to promote economic prosperity in Vermont by providing financial assistance to eligible businesses, including manufacturing, agricultural, and travel and tourism enterprises. Since its inception in 1974, VEDA has made financing commitments totaling over $1.2 billion. For more information about VEDA, visit www.veda.org(link is external) or call 802-828-5627.
ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » In 2006, I attended a roundtable in Las Vegas to discuss how credit unions could build market share in mortgages. At the time, credit unions had about 2% of the market nationwide. “Two to 10 in 10” was the rallying cry; 10% market share in 10 years.At the time, it seemed like a Big Hairy Audacious Goal for sure, yet credit unions have seen their market share hit 10% and settled in the 9% range the last several years.Credit unions have certainly been helped by the financial crisis, as more borrowers sought us out because we never participated in the pick-a-payment loan business or did anything else that created the mess in the housing market. We also have to give an assist to some of the big banks that have, for the most part, abandoned affordable housing and mortgages, preferring to make jumbo loans to wealthy customers with the promise of additional cross-sold products.Yet with this market share comes profound responsibility, and a commitment to fair lending is without a doubt in my mind the biggest responsibility—and potential pitfall. Ask a lot of lenders about fair lending, and you’ll get this response: “We don’t discriminate; we want to make loans.” They believe that having strong policies prohibiting discrimination, paired with fairly routine and consistent training, are sufficient to ensure fair lending. Yet when it comes to fair lending, forgive the pun, it’s not that black and white.
continue reading » In an exclusive interview with Adam Mendler, an expert in thought leadership and strategy development and CEO of The Veloz Group, NAFCU President and CEO Dan Berger discussed his experience as one of Washington’s most influential advocates, strategies for successful leadership, and how he led NAFCU to record membership growth.“The best advice I can give is to always be respectful of others and value their time. Be prompt when arriving for meetings, be responsive to policymakers’ questions, and be sure to keep open lines of communication through proactive outreach and honest interactions,” said Berger, who has been recognized as a top lobbyist by The Hill for 17 consecutive years. “The surest way to have a lawmaker’s door close on you or to burn a relationship is to undervalue the needs of others.”After taking the reins as president and CEO of NAFCU, Berger used these leadership skills to help refocus the association’s agenda towards issues credit unions cared deeply about.“Trade associations in Washington have a habit of trying to be all things to all people, but at NAFCU, we focus on advocacy, compliance assistance, and education and training – that is it!,” said Berger. “And our members have supported us every step of the way. Because of this, we have grown our membership by over 40 percent in just over seven years and we now represent 54 percent of the industry’s assets.” ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
Read also: Airport operators pivot to cargo services to survive pandemicFarida said the student had a document issued by a West Java Health Agency laboratory on June 21 showing a positive PCR result.The Soekarno-Hatta Airport Health Office did not immediately respond to The Jakarta Post’s request for comment.West Java Health Agency head Berli Hamdani confirmed that the passenger was a Sorong resident who was studying in West Java.“[The passenger] is not a resident of West Java but is studying here. But students here have been asked to study at home for a while now,” Berli told the Post on Monday.Berli declined to say whether the student should have been self-isolating but said that local health agencies had been monitoring COVID-19 patients to ensure that they were isolating either at hospitals or in their homes.“[The case] is still being studied by the provincial health agency. As soon as we have clear details, we will inform the public,” he said.Topics : He added that Garuda had disinfected the aircraft and had requested that the cabin crews on duty that day self-quarantine.“We will conduct intensive coordination and communication regarding the follow-up to this incident in order to ensure that health procedures for flights during the new normal transition period run optimally,” Irfan said.Sorong Airport Health Office coordinator Farida Tariq said that health officials had discovered that the passenger, a 20-year-old student, had tested positive for the virus during a routine health document check conducted upon arrival at Domine Eduard Osok Airport in Sorong on Saturday.According to the latest government regulations on air travel, all prospective passengers must provide documents showing a negative COVID-19 polymerase chain reaction (PCR) or rapid test result before being allowed to fly. A passenger who was allowed to board a Garuda Indonesia flight from Jakarta to Sorong, West Papua, despite having recently tested positive for COVID-19 had been cleared for travel by health authorities, the national flag carrier has said.“All passengers on the flight received validation and clearance from relevant authorities regarding compliance with health requirements for flight passengers,” Garuda president director Irfan Setiaputra said in a statement on Sunday.Flight GA 682 had also followed physical distancing protocols, with passengers limited to 62 percent of total capacity, Irfan said.
It’s not time to panic, yet.When the final kill hit the hardwood on USC’s side of the net, the Trojans stood as still as Michelangelo’s David, frozen in a state of disbelief before finally, mechanically, shaking hands with the opponent.Down · Junior Austin Zahn and the Trojans have lost three of four. – Gary Fung | Daily Trojan The No. 2 USC men’s volleyball team couldn’t believe they had just been swept by No. 7 Pepperdine at home Friday night (30-28, 30-28, 30-26) for their third loss in four games. Two of those losses have come at the hands of the Waves (5-4, 5-3), who dethroned the former No. 1 Trojans (7-4, 5-3) in a five-set thriller two weeks ago in Malibu, Calif.This time, the Waves only needed three sets to put a dent at the start of the Trojans’ seven-game homestand and plant a seed of doubt in the back of the team’s mind.“I think coach said it well that it’s not panic time, but it’s concerned time,” said Tony Ciarelli, sophomore outside hitter. “We should all be a little concerned right now. We should be playing better than this.”USC had a chance to close out the third set and extend the match, but, much like the previous two sets, the Trojans got stuck in a rotation and it hurt them. With USC up 20-18, Pepperdine called a timeout, then proceeded to go on a deadly 10-2 run to put the match away.The same thing happened in the second set. The Trojans took a 12-11 lead, only to watch as the Waves went on a 6-0 run. Once the Trojans were able to get out of their rotation, they clawed their way back to tie the game at 28. But they couldn’t put it away.“It wasn’t like throughout the game we were playing terrible,” Ciarelli said. “We weren’t playing bad for 90 percent of the game but that 10 percent just took out that other 90. It was that one rotation that was killing us.”Other than getting stuck in one rotation, USC had trouble passing and building onto a lead. USC’s biggest lead was four points — 16-12 in the first set — and every time the Trojans looked like they were ready to pull away they made a mistake and the Waves reeled them back in.USC was never able to pull away because of the predictability of passes. Opposite hitter Murphy Troy and Ciarelli had 71 combined attempts — more than double the rest of the team. They put away only 29 of those attempts while middle blockers Austin Zahn and Hunter Current killed 19 balls on 31 attempts. If the Trojans could’ve gotten Zahn and Current the ball more, the match might have turned out differently.“We’re not passing the ball as well as we can so we’re not getting opportunities to set them,” USC coach Bill Ferguson said. “The passing was huge and did us in tonight and made our offense two-dimensional instead of three.”Despite this, Ferguson said panic time hasn’t arrived yet. He points to the late start in the fall — Troy, Ciarelli and outside hitter Tri Bourne played on the USA Junior National team at the world championships in August and Current was injured. As well as, the weekly Wednesday/Friday matches they had earlier this season, giving USC only one real day of practice.So, it’s back to the gym for the Trojans, where all they can do is continue to work to end their midseason funk.“We go back to the practice gym and video room and keep getting better,” Ferguson said. “This is only the second week we’ve had to train since late December, so we are finally able to get back to the drawing board, and anytime we get to train right now is going to be huge for us.”