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.
Bank 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.
The 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.