"Focus on Banking & Finance" piece on the financing of company expansions or rel

Vanessa Cirulli

Source

Mainebiz

Date

4-4-2005

Pages

26-28

Abstract

"Focus on Banking & Finance" piece on the financing of company expansions or relocations. The close relationship among the U.S. Small Business Administration (SBA), traditional lenders, and gap financing institutions is a model in Maine. Co-owners Travis Holland and Dave Hoidal of Toegoz, a flip-flop company, used a combination of bank and SBA loans to move from a leased space in Sanford to a building they bought in Portland. Rynel Inc., which received state and local tax breaks, moved from leased space in Boothbay to the former Maine Yankee site in Wiscasset, where owner National RE/Sources is financing and building a facility for the foam manufacturing company. John Bader and other managers of bankrupt Wahlco Engineered Products Inc. in Lewiston used bank loans and community-based gap financing instititions to buy their sister company in the U.K. and turn what is now Wahlco-Metroflex into a growing air pollution control system manufacturer. With a list of some business financing resources in Maine.

Subjects

Loans

Full text is not available here. Please contact the Library for a copy of the article.

Share

COinS