Contact: Elliot Schultz

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March 29, 2006

Gallus Lauds Outreach Program to Target North Country Businesses

Lancaster , NHToday an outreach program was held at the Lancaster Town Hall by a coalition of groups concerned about businesses that were affected by the low snowfall this winter. Small business owners throughout New Hampshire packed the meeting hall to find out about the outreach program.

Members from the Business Finance Authority (BFA), Department of Resource and Economic Development, Coos County of Economic Development, and the New Hampshire Snowmobiler’s Association assembled to let affected businesses know that there is financial help available. The Capital Access Program(CAP), through the BFA, allows businesses, which are expanding, or having problems securing funding, to obtain loans of up to $100,000 through participating New Hampshire banks. The CAP program is open to both existing and new companies with annual sales of less than $5 million.

Senator John Gallus (R- Berlin) who helped organize today’s information session, commented, “This program is designed to assist small businesses most devastated by lack of snow fall this year –and I am proud to lend a hand. It is important that businesses take advantage of the aforementioned programs so that the businesses affected are in the best shape possible for the upcoming winter.”

There was a wide group of businesses represented, saw mills, loggers, snowmobiling associations, snow plowers, and the hotel industry. The low snowfall has truly affected each industry, as shown by the group assembled today. There were even restaurant owners present that said the tourism dollars fell off considerably this winter.

Senator Gallus concluded, “Many New Hampshire businesses have seen a 60% or more decrease in their respective industry. From the high attendance at the meeting today, people know there is help available and as aresult they are asking for it. I am fully committed to helping each and every North Country business get back on their feet as quickly as possible. The North Country can not afford to see any more economic setbacks.”