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Posts Tagged ‘New Hampshire Banking Department’

Governor Announces Regional Business Finance Fair

Thursday, March 25th, 2010

Gov. John Lynch and his Jobs Cabinet today announced a regional Business Finance Fair will be held on April 30 from 8 a.m.-noon at the Sheraton Portsmouth Harborside , giving businesses the opportunity to meet with representatives from area banks, credit unions and other financial resource organizations. The fair is open to businesses of all sizes and sectors, entrepreneurs and anyone interested in starting a business.

During Gov. Lynch’s Jobs Cabinet Roundtable Series held over the last several months, many businesses leaders expressed concerns about a difficulty in obtaining financing. This finance fair is in response to those concerns.

“Businesses continue to tell me how they are struggling to find the credit or working capital to grow their companies. If our companies are not able to grow, they cannot create new jobs and our economy will not be as strong as it could be,” Gov. Lynch said. “Meanwhile, local financial institutions tell me they have money to lend. The goal of this Fair is to help businesses connect with financing options so that they can continue to grow.”

The Finance Fair will also several workshops on ways businesses can use credit enhancements, on preparing to speak with lenders and on how to work with alternative financing.

financeBank of America, Service Credit Union, the New Hampshire Banking Department and the New Hampshire Division of  Economic Development are sponsoring the event.

“For some local business leaders, securing financing can be intimidating given the different options and effect each may have on a company’s balance sheet,” said John Weeks, New Hampshire president, Bank of America. “By bringing together lenders and providing valuable educational workshops, organizers of the inaugural Business Finance Fair aim to provide clarity around the process.”

“Service Credit Union is honored to sponsor the Finance Fair. It provides a unique opportunity for business leaders to learn about the local resources available to them. At Service Credit Union, we recognize that building strong relationships are key to success in business,” said Gordon Simmons, president and CEO of Service Credit Union. “We are proud to support Governor John Lynch’s business initiative and to share our vision of being a leader in corporate citizenship. It is a great pleasure to be a major sponsor of the Finance Fair and we look forward to expanding our cooperation in these venues.”

“I want to make sure we are doing all we can to foster our business friendly environment here in New Hampshire,“ Gov. Lynch said. ”It is my hope these fairs will provide business leaders with a better understanding of the financing options that may be available to them and how to pursue those options.”

Businesses interested in attending are encouraged to RSVP with the New Hampshire Banking Department by calling 271-3561 or by sending an e-mail to events@banking.state.nh.us.

Innovative Exercise Helps Students Explore “The Road Ahead”

Thursday, February 4th, 2010

Those who create and operate successful businesses understand the importance of budgeting and being fiscally responsible. But what do we do to prepare our future CEOs and entrepreneurs for the financial challenges they will face?

Yesterday, I received a press release from our friends over at the New Hampshire Banking Department regarding a great new personal finance exercise geared at high school students. Check this out:


Banking Commissioner Peter C. Hildreth today announced the release of a new personal finance exercise designed for high school students. The Road Ahead exercise was developed to raise student awareness about the costs of owning a car. The exercise discusses several elements of personal finance but is not intended to take the place of a full semester course. The Road Ahead exercise was designed by the Banking Department and Robert Nadeau, economics teacher at Hopkinton High School.

“Financial literacy is essential for economic success and security. Our goal was to give teachers and parents a short exercise to begin financial education. By using a topic of great interest to teenagers – owning a car – The Road Ahead certainly accomplishes that goal,” stated Commissioner Hildreth.

women-driver2The exercise was initially designed to fit into one class period but could be stretched over two or three periods. It can also be used independently by parents who want to discuss the financial side of car ownership and operations. In either case, it serves as a springboard to other types of financial education.

“I have used the program in my classes and I found that it was easy for some students and an eye opener for others,” commented Robert Nadeau, “It’s a good tool to start some broader discussions about opportunity costs and other concepts.”

The exercise will be taught during a breakout session at the upcoming Jumpstart Financial Fitness Fair on February 6, 2010 at Southern NH University. Information about the conference can be found at www.nhjumpstart.org.

The Road Ahead Exercise is free and available for download by teachers and parents at http://www.nh.gov/banking/education.html.