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PathStone Enterprise Center Business Class at Finger Lakes Community College

PathStone Enterprise Center Business Class Graduation at

Finger Lakes Community College

On May 7th participants of PathStone Enterprise Business Development Class celebrated the completion of the 11 week class.

Among the businesses completing the class were Super Casuals, Penn Yan Diner, OM Yoga, Instant Monogramming, Flour City Growlers, Seneca White Deer, Inc, Naples Valley Brand Products, Exquisite Skin Care, G-town Philly Steaks, Strong Hill Studio and West Wildlife. There were a number of startup businesses ranging from a Horse Farrier, Event Center, Jewelry, Dog Day Care, Herb Gardens and more.

PathStone Enterprise Center is very fortunate to have the support of Finger Lakes Community College. FLCC puts into action their commitment to assisting the local community by helping startup and existing businesses. This is the fifth class that FLCC has sponsored.

A fall class is scheduled to start on September 26 in Seneca Falls, click here for an application.

Posted On: Tuesday, May 21st, 2013 @ 3:16 pm by Web Administrator
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Naples Apothecary Grand Opening

The Community Welcomes Naples Apothecary

Ann Ritzler, RPh, had the vision and dedication to the Naples community in order to make the Naples Apothecary a reality. Months of planning, research and hard work paid off for Ann and the Naples community. Naples Apothecary's is a welcomed and needed business in the community. On opening day, over 500 people welcomed Naples Apothecary to the community.

Besides being a pharmacy, the store, located at 129 South Main St in Naples, NY, carries local artist's work, gifts, and greeting cards. Stop in for a cold drink, cup of coffee and a snack.

Naples Apothecary is open: Monday - Friday 8am - 8pm Saturday 8am-2pm and the Pharmacy is open: Monday - Friday 9am - 7pm Saturday: 9am - 2pm.

Click here to check out their facebook page for more information.

PathStone Enterprise Center is pleased to have played a part in bringing this business to the community.

Posted On: Wednesday, April 24th, 2013 @ 9:00 am by Web Administrator
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Brimont Bistro in Webster Plans Opening for February 2013

Al Hartsig from PathStone Enterprise Center and Greg Cody owner of Brimont Bistro, Webster Restaurant

Al Hartsig of PathStone and Greg Cody of Brimont Bistro

You can look forward to Brimont Bistro, 24 West Main St in Webster opening in February 2013. Patrons will be pleased with the clean, simple lines of the decor with period pictures of the building on display.

Brimont Bistro will be patterned after New York City restaurants, offering fine dining where patrons can relax and enjoy their meal in a quiet surrounding.

Greg Cody, well known for his catering business, obtained traditional financing from his local bank but needed some working capital to make his dream a reality. PathStone Enterprise Center provided a working capital loan to fill the gap.

Posted On: Thursday, January 10th, 2013 @ 2:37 pm by Web Administrator
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Ground Breaking for Candy Apple Daycare Center

Candy Apple Ground Breaking, Newark, NY

Saturday, December 15, 2012

Posted On: Friday, December 21st, 2012 @ 3:24 pm by Web Administrator
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PathStone Busines Class Graduation - Keuka College

MAP Business Class Graduation 2012

Keuka College

On December 4, 2012 eleven businesses celebrated the completion of the 11 week course.

The final class covered Human Resource issues and a motivation presentation by Jim Grillo. We were honored to have Congressman Reed's Dristrict Director Joseph Sempolinski participate in the program.

Watch for these businesses:

Lake Street Filling Station Winery, Geneva, NY

Vineyard View Winery, Keuka Lake, Penn Yan, NY

KP Konsulting, Penn Yan, NY

Dallywaters, Geneva, NY

Good News Coaching, Penn Yan, NY

Ironvine Studios, Dundee, NY

Happy Camper Ice Cream Co., Keuka Park, NY

M & J Building Contractors, Prattsburgh, NY

LAE's Campfire Wood, Keuka Park, NY

Plans for two spring classes are being finalized for Canandaigua and Big Flats.

Posted On: Tuesday, December 11th, 2012 @ 3:36 pm by Web Administrator
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Adena Shoshan, Psy.D. Opens Private Practice

Adena Shoshan, Psy. D psychotherapy consultation

Adena Shoshan, Psy.D., P.C. - 160 Allens Creek Rd., Rochester, NY 14618

Adena Shoshan, Psy.D., a licensed clinical psychologist, was unable to secure traditional financing due to student loan debt. She received a loan from the PathStone Enterprise Center to fulfill her dream of opening a private practice. Dr. Shoshan opened her practice in October and provides psychotherapy, consultation, and assessment for individuals, couples, and families. Specialty areas of service include women’s health, treating PTSD/trauma, geropsychology, and psychological assessment.

Dr. Shoshan chose to become a psychologist because of her belief in the effectiveness of the therapy process and people’s innate ability to move toward growth and healing. She has been a therapist since 2003 and decided to open a private practice so she could create a safe, welcoming, compassionate, and professional place for her clients. When you enter Dr. Shoshan’s practice a sense of wellbeing and healing can be felt. She provides a therapeutic environment of respectful challenge, acceptance, curiosity, and joy, and she is currently accepting new clients in her practice.

Click here to learn more about Adena's practice.

Posted On: Monday, November 26th, 2012 @ 3:31 pm by Web Administrator
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Kitchen Concepts - Lockport, NY

Kitchen Concepts

80 Main St., Lockport, NY 14094

716-433-3719

Visit Kitchen Concepts

Jim Garlock, after working for two large kitchen and bath show room companies in the Lockport, NY area for fourteen years, decided to strike out on his own and started Kitchen Concepts in August 1997. After working out of a small basement office, Jim realized he needed a showroom to properly display cabinets, counters, and fixtures in order to continue growing his business.

Never needing business financing before, Jim attended a small business seminar sponsored by Niagara County Community College Small Business Development Center and NYS Senator George Maziarz to see what was available to assist a small business like his. It was at this seminar that Jim learned about the importance of a business plan and what bank lenders look for from prospective applicants. It was also at this seminar that Jim met a representative of PathStone Enterprise Center, Inc. (PECI). The representative explained the various forms of alternative financing available and how they can work together and with bank financing to assist small business such as Kitchen Concepts.

Working with the Small Business Development Center Jim crafted a thorough business plan while searching for an acceptable site to relocate. After a more than five month search Jim located a site that met his needs. Even with a sizable equity contribution the bank was not able to provide the balance of the funds needed to complete the project. Recalling his conversation with PECI at the business seminar Jim contacted PECI. Working with Jim and the bank, PECI was able to provide the remaining funds necessary to complete the relocation of Kitchen Concepts. According to Jim, “Using PathStone to help with the financing of my new showroom was the best thing I did. Unlike traditional banks, PathStone cares about the client. PathStone offers sound advice and was very helpful through the entire process. I couldn’t have done it without them”.

With the opening of the new showroom Kitchen Concepts created three new jobs and removed a vacant store front in the downtown area of the City of Lockport. PathStone is proud to assist small business in New York create new jobs and build strong communities.

Posted On: Friday, November 02nd, 2012 @ 4:00 pm by Web Administrator
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PathStone Enterprise Center Partners with NYSERDA for Energy Loans

The Enterprise Center is pleased to be partners with NYSERDA to offer business energy loans.

NYSERDA provides 50% of a loan, up to $50,000, at 0% interest, and the lender provides the rest of the loan at market rate. By partnering with NYSERDA, PathStone Enterprise can offer small businesses and not-for-profits energy efficiency financing at about half the market rate.

For more informations click here.

Posted On: Tuesday, August 21st, 2012 @ 2:27 pm by Web Administrator
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Spring 2012 Canandaigua Business Graduation at Finger Lakes Community College

PathStone Enterprise Center celebrated the completion of the Canandaigua Spring Business Class on Wednesday April 25 at Finger Lakes Community College.

Twenty three potential and existing businesses completed the eleven week class.

The evening was highlighted with food provided by several of the participants.

Redman's Barbeque, Geneva, NY provided Barbequed Pulled Pork.

Lena May's Catering, Geneva, NY provided an appetizer tray.

Bigg Papa's Brazen Bull Bbq, Hemlock, NY, provided smoked brisket and spare ribs.

Cydney Pocock made boutineers and corsages for all.

Dark Hollow Road Bakery, Bloomfield, NY provided Red Velvet and Salty Chocolate Caramel cupcakes for desert.

Posted On: Friday, May 06th, 2011 @ 1:14 pm by Web Administrator
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Grand Opening at Lotus Life Yoga Center

Grand Opening at Lotus Life Yoga

Kim Fischer of Lotus Life Yoga Center is celebrating her grand opening this week.

Since her soft opening in August her client base has been growing steadily. Her business plan was solid and she has not had any surprises.

Located at 4467 East Genesee St, Dewitt, NY Lotus Life Yoga Center provides high-quality yoga instruction to the communities of Fayetteville, Manlius, Jamesville and Syracuse.

New classes are being added on a weekly basis, including pre-natal yoga and soon they will add mother and child classes. Reiki and a massage therapist will be added soon.

On the day we visited we assisted Kim with some QuickBooks technical assistance.

Relax for a few minutes and visit her website http://www.lotuslifeyogacenter.com/

Posted On: Friday, October 21st, 2011 @ 3:53 pm by Web Administrator
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Hunt Country Hosts Senator Gillibrand

Hunt County Vineyards, Branchport, NY, hosted a roundtable meeting for Senator Gillibrand on August 25, 2011.

This listening session focused on federal policies and programs that help rural businesses succeed, including access to financing, small business technical training and new market opportunities.

Lee Beaulac, Sr. Vice President of PathStone facilitated the meeting.

As the first New Yorker to serve on the Senate Agriculture Committee in nearly 40 years, Senator Gillibrand plans to focus on a broad range of agricultural issues that are important to New York in the next Farm Bill, including access to financing, new market opportunities, assistance for dairy farms and specialty crops, and investments in renewable energy.

PathStone picture includes

(front row) Mary Wilmot (Sojourner House at PathStone), Yesenia Ramos (Executive Assistant to the CEO). Julie Everit (Real estate development), The Senator, Lee Beaulac, Joyce Hunt, Art Hunt

(second row) Dana Brunett, Hubert VanTol, Al Hartsig, Megan Johncox (Corporate Development)

Posted On: Thursday, August 25th, 2011 @ 3:28 pm by Web Administrator
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PathStone Enterprise Center receives $1.5 million award

Earlier this week, Donna J. Gambrell, director of the U.S. Department of the Treasury’s Community Development Financial Institutions Fund, announced awards totaling $142,302,667 for 155 Community Development Financial Institutions (CDFIs) serving economically distressed communities across the nation. Rochester-based PathStone Enterprise Center, Inc. received a $1.5 million award, the largest amount awarded through the CDFI program for this fiscal year.

“We’re very pleased to have been awarded these funds” stated Dana Brunett, president of the PathStone Enterprise Center, “this award will allow us to better serve the needs of small business owners and entrepreneurs throughout the region over the next few years.”

Click here to read more!

Posted On: Monday, July 25th, 2011 @ 11:20 am by Web Administrator
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Corning Business Development Class Graduation

Corning Business Class

On May 31, 14 participants celebrated the completion of PathStone's Business Development 11 week class.

This class was made possible with the efforts of Diane Lantz of REDEC. Diane saw the value of providing this opportunity to the businesses in the Corning area.

Existing businesses participating in the class were:

Donna Ayers of Sandlot Sports Academy

Rodi Rovner of Hands On Glass

Elaine Walker of Happy Tails

Doug Cole of Heavenly Cup Coffee Roasters

Posted On: Wednesday, June 01st, 2011 @ 1:21 pm by Web Administrator
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Fall 2010 Mt Morris MAP Graduation

PathStone Enterprise Center hosted a graduation ceremonies at the Mt. Morris Genesee Valley BOCES on December 15th.

If you missed out on this opportunity, we are excited to announce another class will start in February on Wednesday evenings!

Applications are being accepted now.

Call 585-226-1623 for more information or click here for an application

Posted On: Friday, December 17th, 2010 @ 7:28 pm by Web Administrator
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Fall 2010 Geneva MAP Graduation

On December 14, PathStone Enterprise Center hosted a graduation ceremonies at Finger Lakes Community College, Geneva Campus. Graduates from the program attended an 11-week business ownership class. A mix of startup and existing businesses participated in the classes.

The pictures show how much fun we have during the class while learning a lot!

After completing the course, Sandra Hicks commented,

"I obtained so much useful and well delivered information. You made it seem easy and accessible....that my goals don’t have to be just dreams, they can be reality. "

Sandra is going to open a yoga studio called Namaste (meaning….. the light in me honors the light in you)

Check back and we'll post pictures of her grand opening!

A fall class is planned for September at the Canandaigua Finger Lakes Community College campus. Applications are being accepted now.

Call 585-226-1623 for more information or click here for an application.

Posted On: Friday, December 17th, 2010 @ 4:52 pm by Web Administrator
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PathStone Business Loans Featured on Channel 8 News

A Rochester company has millions of dollars to lend, and wants you to apply for a piece of that funding.

Pathstone has been helping local businesses and individuals for 40 years.

They offer career training, loans for economic development (to read the full story and see the video click here)

Posted On: Friday, October 29th, 2010 @ 3:48 pm by Web Administrator
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Victor Spring 2010 MAP Graduation

PathStone Enterprise Center hosted a graduation ceremonies at Finger Lakes Community College, Victor Campus, honoring a total of 22 entrepreneurs. Spring 2010

Posted On: Thursday, April 29th, 2010 @ 3:12 pm by Web Administrator
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Fall 2009 Business Class Graduations

In December, PathStone Enterprise Center hosted two graduation ceremonies at Finger Lakes Community College and one at Haverling High School in Bath, honoring a total of 18 businesses.

Applications are being accepted now for future classes.

Call 585-226-1623 for more information or click here for an application

Posted On: Friday, January 08th, 2010 @ 4:09 pm by Web Administrator
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The City of Rochester MAP Graduation - December 2008

PathStone Enterprise Center along with the City of Rochester hosted a MAP graduation ceremony honoring 17 individuals and businesses on Wednesday, December 15 at Council Chambers, Rochester City Hall.

MAP provides entrepreneurs interested in starting or expanding their own business with training, technical assistance and access to low interest loans. With funding from M & T Bank, PathStone Enterprise Center and the U.S. Dept. of Housing and Urban Development, MAP’s overall goal is to support viable small businesses in Rochester.

Van Smith, Recovery Houses, attended the graduation last night. Mr. Smith participated in the Spring MAP class and wanted to show his support and appreciation to the program by attending the Fall Graduation.

Commissioner of Economic Development Carlos Carballada welcomed the participants and acknowledged their commitment to the class. He offered encouragement and welcomed them to the Rochester business community.

The 12-week training program covered all aspects of operating a small business, including going into business, taxes, legal/business law, budgeting, financial statements, recordkeeping, computer applications and employee issues. Miguel Laureano, MAP graduate felt, "the business seminar has opened my and other participants eyes beyond expectations. Hands on participation by the professor and other speakers goes beyond normal seminars."

Program “graduates” who completed the educational and technical assistance components will be eligible to apply for low-cost, flexible term financing, in addition to receiving assistance in accessing capital from other public and private resources. The program includes a post-business support program to nurture and strengthen developing businesses in their startup phase.

Applications are being accepted for a 2009 class, those interested in participating must contact The Enterprise Center for an application, 226-1623.

Posted On: Tuesday, December 16th, 2008 @ 9:39 am by Web Administrator
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Finger Lakes Community College MAP Graduation

PathStone Enterprise Center hosted a MAP graduation ceremony honoring 14 businesses at Finger Lakes Community College.

Information on future classes is available by contacting PathStone Enterprise center at 585-226-1623.

Posted On: Tuesday, July 21st, 2009 @ 2:48 pm by Web Administrator
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Pictures from the 2008 Wine Conference held at Keuka College

Posted On: Tuesday, March 25th, 2008 @ 8:02 am by Web Administrator
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The Wine and Bank Forum

Local Winery Owners Work With Local Non-Profit to Access New Lines of Capital

When: Thursday, November 30^th

Where: Keuka College

Gannett Room

Lightner Library

Penn Yan, New York.

According to a recent study of the industry conducted by MKF, the wine and grape industry is responsible for contributing approximately $2.8 billion each year to our regional economy. New York wines have come of age and are eagerly sought after around the world. But, will we be able to capitalize on the growing popularity of our regional wine products and successfully sustain this important sector of our economy? We hope so. One question that is being asked, however, relates to the availability of credit and capital, and whether or not there are adequate financing opportunities within the region for our expanding winery industry.

Rural Opportunities, Inc. (ROI) has been examining this issue for the past year and has taken steps to better understand wineries and their challenges with respect to access to credit and capital. Last year, ROI created the Winery Credit and Capital Advisory Board (WCCAB). This group has met four times in the past year and has helped inform the discussion and has helped ROI understand the issues from their perspective. Six months ago, we completed a survey of 17 small and intermediate sized banks and 6 industrial development agencies in the region.

On Thursday, November 30^th, we are pleased to sponsor the first of a series of round table discussions where we will explore the very important issue of access to credit and capital by the New York winery industry, particularly in the Finger Lakes region of the state. We have invited a cross section of the industry including winery owners, bankers, other credit providers, federal and state regulators, economic development agencies, rural development agencies and organizations and elected officials. Sponsors of the event include the Bank of America, Rural Opportunities, Inc., Keuka College, and the SIFE (Students in Free Enterprize) Team from Keuka College.

ROI is a private, not-for-profit regional community development and human service organization providing services to farmworkers, low-income families and economically depressed communities throughout New York, Pennsylvania, New Jersey, Ohio, Indiana, Vermont, and Puerto Rico.

Posted On: Thursday, January 25th, 2007 @ 7:36 pm by Web Administrator
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Finger Lakes Community College Spring 2009 MAP Graduation

PathStone Enterprise Center hosted a MAP graduation ceremony honoring 11 individuals and businesses on Wednesday, April 22 at Finger Lakes Community College.

Information on future classes is available by contacting PathStone Enterprise center at 585-226-1623.

Posted On: Wednesday, April 29th, 2009 @ 1:59 pm by Web Administrator
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Wayland Fall 2008 MAP Graduation

Wayland Business Fall 2008 Class

PathStone Enterprise Center hosted a MAP graduation ceremony honoring 11 individuals and businesses at Wayland Middle School, Wayland, NY. on December 1. 2008. Jim Grillo, SUNY Distinguish Professor from Alfred State College presented the businesses with certificates.

Peter Stull, Bicycle Man, Alfred Station, NY, has been in business for over 30 years, “still found the class interesting and very helpful. It showed me our weak areas and gave me the knowledge & resources to work on them. In today's economy even a successful business can't afford to be complacent, we need to stay on top of our game!”

The classes were enhanced by outside speakers from Five Star Bank, Nancy Levesque and Terry Kelley, Norm Karsten from the Small Business Development Center, from Thompkins Insurance Thomas Didas, Rob Baldwin from Go Pro Web Solutions and John Vogel, Attorney at Law.

Kellie O'Dell, Canisteo Valley Transcription Specialists, Greenwood, NY, “After 10 years in business it humbles me to know that I knew little about correctly running a business, until I took this class. Now my business can grow and prosper and I can be confident that I know the right way to get to the next level!

The expertise of Jim Grillo takes this course to a level that would be hard to match anywhere else! Jim uses his own business experience and knowledge combined with textbook to make it real and relevant for all of us, no matter where we are in our business! I would have paid $1000 for this course!!!”

If you are interested in participating in a future class, call PathStone Enterprise Center, 585-226-1623, for the location on upcoming classes and an application.

Posted On: Monday, December 08th, 2008 @ 12:08 pm by Web Administrator
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Finger Lakes Trading Cooperative

The Enterprise Center, Inc. (a program of Rural Opportunities, Inc.) and the Allegany Business Center have partnered to offer The Finger Lakes Trading Cooperative program in March!

The Finger Lakes Trading Cooperative program is looking for rural business owners that would like assistance entering the world of e-commerce. The program provides the loan of a Kodak Digital Camera and a laptop computer for six months, if needed, and qualified participants can apply for startup and expansion loans. Opportunities to network with other business owners and technical assistance and training are also available.

Senator Hillary Rodham Clinton started this program with the assistance of Rural Opportunities, Inc. The idea was to expand the market for rural artists and businesses. Rural businesses can take advantage of this unique opportunity to expand their market with a 24/7 storefront. Your business can access previously inaccessible markets using the Internet as a resource to upcoming generations that accept technology and telecommunication as a given.

Kodak supported the program in the past with the donation of funds for the laptops and digital cameras. They continue to show their commitment to the community by providing additional support this year.

Small businesses with fewer than ten employees benefit the most from being on-line, 35% gain 10 to 99 percent of current sales directly or indirectly from the Internet. On average, Web users are upscale (25% have income over $80K), professional (50% are professional or managerial) and educated (64% have at least a college degree). Approximately 14% (2.5 million) of Web users have purchased products or services over the Internet.

If your business is ready to expand its market using e-commerce and the Internet then call for an application today, (1-888-379-0371) and learn how the Finger Lakes Trading Cooperative can help grow your business.

Posted On: Friday, January 04th, 2008 @ 11:18 am by Web Administrator
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Microenterprise Assistance Program

City of Rochester, NY -

Rural Opportunities, Inc. through The Enterprise Center, its economic development affiliate, is accepting applications for the Microenterprise Assistance Program (MAP) classes to be held in the City of Rochester this Spring.

According to Kathleen English, Business Development Officer for Rural Opportunities, Inc., “We are very lucky to have an experienced teacher for the program, Jim Grillo, Professor of Business and former Vice President at Alfred State College. Professor Grillo designed and developed the Entrepreneurship major at Alfred State, and not only brings experience from the classroom, but real life.”

“The materials presented are invaluable but the networking that occurs during the class is even more valuable. Businesses no longer feel they are alone, they develop relationships that last long after the class concludes.”

A recent graduate of MAP, Dan White, Keuka Studios, Inc. wrote, “It's rare to have an opportunity to learn from someone with such diverse experience in business. Jim has a unique blend of academics and real world business experience making this one of the most beneficial business courses we have taken.”

This program addresses the specific issues related to the startup and expansion of a small business. We endeavor to present a logical sequence of issues, questions, examples, and action steps that will lead entrepreneurs to develop a practical and usable business plan. The class supplies steps, and the entrepreneur supplies the effort to chart a course for a successful business venture.

This program is made possible by funding from the City of Rochester, M&T Bank and The Enterprise Center, a program of Rural Opportunities, Inc.

MAP’s goal is to support existing and start-up micro-businesses. Participants will be selected through a competitive screening process. Those selected for the program will attend a 11-week training course, meeting every Wednesday from 6:00 p.m. to 9:00 p.m., starting February 6 and ending April 16. The cost for the course is $50, pre-registration is required.

Participants need to complete an application. These are available by clicking below. The applications need to printed and mailed or faxed to the number on the application.

For a startup business: http://www.theenterprisecenterinc.com/applicationsPDFs/MAPProspectiveApplication.pdf

For an existing business: http://www.theenterprisecenterinc.com/applicationsPDFs/MAPexisting.pdf

Posted On: Thursday, January 03rd, 2008 @ 8:48 pm by Web Administrator
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New Market Tax Deal

Senator Clinton announces New Market Tax Credit for Fralo Plastech Manufacturing LLC

Lee Beaulac, Senior VP of Housing and Economic Development for Rural Opportunities, Inc. acted as the master of ceremonies as Senator Hillary Rodham Clinton and Congressman James Walsh joined executives of Fralo Plastech Manufacturing at a ribbon cutting ceremony that marked the successful start of a new business venture that has already created 50 new jobs and put an idle former GM plant in Syracuse, New York into productive reuse in an environmentally-friendly operation.

Fralo Plastech Manufacturing LLC is a new Salina, New York based firm (near Syracuse, NY) that used the critical funding to purchase the world’s largest plastic blow-molding machine that is being used to produce exceptionally strong, environmentally friendly wastewater and stormwater tanks, septic tanks and related products. FRALO’s plastic tank manufacturing operation has already had a significant positive economic development impact by creating the 50 new well-paying, full-time jobs in the challenged greater Syracuse community.

Rural Opportunities, Inc., through its economic development affiliate the Enterprise Center (ROECI) is under contract with Coastal Enterprises. Inc., a New Market Tax Credit allocatee located in Portland Maine, to market the NMTC program to potential projects in New York State. This agreement allows CEI to concentrate on the projects at hand while ROECI staff recruits additional potential NMTC projects that may qualify for future allocations of tax credits.

“We’re very pleased to be partnering with CEI to bring access New Markets Tax Credits to Upstate New York” stated Dana Brunett, President of the Enterprise Center. He further added “Right now we’re putting together another four deals here in the Upstate region that could potentially use New Markets Tax Credits to attract investors to their projects”

CEI has a combined federal allocation of $129 million in NMTC tax credit investment capacity awarded in a competitive process run by the U.S. Treasury Department’s CDFI Fund. Its prime service area includes Maine, New Hampshire, Vermont, western Massachusetts and upstate New York..

“Fralo Plastech is pleased to be a successful new business that has been able to secure the financing it needed through the New Markets Tax Credit program that is allowing us to create these new jobs and produce a competitive, environmentally-friendly product,” said Francis Lombardi, CEO of Fralo Plastech Manufacturing, LLC. “We are very appreciative of the support that Senator Clinton, Congressman Walsh, and our entire congressional delegation have given to us and to this important federal tax credit program.”

But the environmental benefits are even wider in scope. The plastic tanks manufactured by Fralo also use recycled materials making them not only environmentally friendly because they help contain wastewater and pollutants, but also because they make good use of recycled natural resources.

The key to attracting the needed capital to allow Fralo to finance the purchase of the new $6 million plastic blow-molding machine, which is the centerpiece of the new manufacturing venture, was the use of the federal New Markets Tax Credits (NMTCs).

The New Markets Tax Credit program was authorized by the U.S. Congress and is run by the U.S. Treasury Department’s Community Development Financial Institution (CDFI) Fund. The purpose of the NMTC program is to provide financial incentives to help attract significant investment capital to historically underserved communities. The program is expanding the availability of credit, investment capital, and financial services in distressed urban and rural communities.

The NMTCs provide the incentive to debt and equity investors in the form of a 39% federal income tax credit to make investing such capital into qualified projects in designated eligible low-income areas more attractive. The financial support often helps mitigate the sometimes substantial risks associated with investing large amounts of money in less-accessible, rural, or already economically challenged areas.

This infusion of private-sector capital into urban and rural low-income areas is financing community development projects, stimulating new economic opportunity, and creating jobs in some of the most challenged areas.

Nationally, the New Markets Tax Credit program’s approximately 130 sponsoring organizations have been working with $6 billion of NMTC investment allocation that were awarded in the first two rounds of a competitive application process managed by the CDFI Fund. A third round of NMTC allocation awards is pending and should be announced within the next 30 days. Congress originally authorized $15 billion in NMTC investment capacity to be awarded and the program is coming up for reauthorization in the next year.

Posted On: Thursday, February 22nd, 2007 @ 12:58 pm by Web Administrator
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Entrepreneurs benefit from new city program

Steve Sink
Business editor, Rochester Democrat & Chronicle

(February 3, 2008) — Nicole Lauriano wants to open a funeral home for pets.

So on Thursday night she was one of 50 people who came to City Hall to learn about a pilot program aimed at helping entrepreneurs get started or get better at what they're already doing.

The Microenterprise Assistance Program is a joint effort of Rochester's economic development office and The Enterprise Center, an affiliate of Rural Opportunities Inc., which, despite its name, works in cities like Rochester as well as rural areas.

"This is the city of some of the greatest entrepreneurs ever," Mayor Robert Duffy said in announcing the program. "George Eastman, Chester Carlson, Jacob Bausch, Henry Lomb.

"Someone from this program might be the next Arunas Chesonis," Duffy said, invoking the name of the PAETEC founder and chief executive who delighted the mayor last year with his plan to build a new corporate headquarters downtown.

Not everyone who attended Thursday's informational session will get selected for the program, which starts March 5 and continues each Wednesday from 6 to 9 p.m. through May 21. Philip Banks, the city's deputy economic development commissioner, said he expects the class to have from 20 to 25 members.

"But people who don't make this go-round may very well get selected next time," Banks said.

The instructor will be Professor James Grillo of the State University College at Alfred, a veteran small business owner.

I have no idea if Lauriano will be one of those chosen, but, as both a dog and cat owner, I can understand her aspirations. She already is a funeral director, for humans, and wants to provide caring services for pets and the people who love them.

By the time the microenterprise classes wrap up, the participants will have at least a rough draft of a business plan. They also will be entitled to more help from the city and The Enterprise Center. The city, for example, works closely with neighborhood business associations and knows where there is available space for new businesses.

If all goes well, Rochester will have a bunch of new enterprises in a few months. May they all be successful.

To learn more

You can still apply for the program beginning March 5. Call the city economic development office at (585) 428-6965 or go online to www.roeci.org, the Web site of The Enterprise Center. The program costs $50.

Posted On: Monday, February 04th, 2008 @ 10:33 am by Web Administrator
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Invitation for Winery Conference January 2008 at Keuka College, Penn Yan, NY

Dear Winery Owners and Grape Growers,

The Rural Opportunities Enterprise Center, Inc. (ROECI), an affiliate corporation of Rural Opportunites, Inc. (ROI) created an advistory group known as the Winery Capital & Credit Advisory Board (WCAB) which is populated with several winery owners, the NYS Wine & Grape Foundation.....

Click the grapes for the full story Click here for Conference Brochure

Posted On: Friday, January 04th, 2008 @ 11:01 am by Web Administrator
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The City of Rochester MAP Graduation - May 2008

The Enterprise Center, Inc. along with the City hosted a MAP graduation ceremony honoring 28 individuals and businesses, 7:00 p.m., Wed., May 28 at Council Chambers, Rochester City Hall.

Sally Kamprath, President, ReHouse Architectural Salvage, feels “we can go forward with the correct knowledge to grow our corporation. This course is a great opportunity for a new start up and businesses wanting to expand, the City of Rochester will benefit from well educated entrepreneurs.”

“The training was invaluable, the information that we received really added much more value than the $50.00 that we paid as participants,” was Van Smith’s, Recovery Houses, thoughts on the program. “I honestly feel like we, as a class, have been informed of the correct way of establishing a business and given the tools.”

Persephone Modeste felt the course was worth the time and money she invested. "The microenterprise Assistance Program (MAP) helped me to realize that my desire to establish a business and help the women in our community could be more than a dream. The quality and the cost of the MAP program is unprecedented. The education provided through MAP staff, community and business professionals led me to reassess my goals and outcomes. I now have the tools, knowledge and on-going support to develop, institute and maintain a community organization that will provide services to enhance homes and families, starting with women."

Posted On: Thursday, May 29th, 2008 @ 11:30 am by Web Administrator
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