For Immediate Release
Federal Savings Bank Recognized For Providing Capital to Rochester Business Using the American Recovery and Reinvestment Act
At a press conference conducted August 26th at Granite Ford in Rochester, NH, Representative Carol Shea-Porter commended the leaders of Federal Savings Bank for a recent loan made to Granite Ford of Rochester, NH using the loan enhancements provided by the U.S. Small Business Administration under the American Recovery and Reinvestment Act (ARRA). “This is exactly the type of loan we wanted to see take place, when we voted for the ARRA. It is a loan made by Federal Savings, a community bank, to a community based business. It provides the capital to help a business to remain strong amid the recession and more importantly for the seventeen people employed at Granite Ford to bring home a paycheck each week.”
Federal Savings Bank’s President & CEO, James J. O'Neill, Jr. said, “Federal Savings Bank is committed to investing in our local communities. Lending locally provides us with an opportunity to truly develop relationships with our customers, like Kevin Donovan and Granite Ford, and have a positive impact on the economic vitality of our region. We've enjoyed our partnership with the SBA and are proud to have assisted with the financing of many successful NH businesses."
Witmer Jones, District Director of the SBA’s New Hampshire Office added “It is important to get the word out that capital is available for small business owners throughout New Hampshire. With the help of the ARRA we are able to waive fees to borrowers while also boosting the percentage for loans guaranteed which encourages our New Hampshire banks to lend. The fee savings alone for 360 SBA loans made in New Hampshire exceeds $1.1 million dollars.”
Senator Jeanne Shaheen, a member of the Small Business and Entrepreneurship Committee said, "New Hampshire's economy depends on small businesses, and the economic downturn and rising costs of health care have made it harder for business leaders to keep employees on their payrolls or expand their companies. It is essential that we provide the capital business owners need so that they can keep their doors open, hire more employees, and grow their businesses in the changing economic environment. This increased funding is an important step in the right direction but more still needs to be done."
For more information about this loan program, contact a Federal Savings Bank Commercial Loan Officer at 1-800-462-2265.
Former major league baseball pitcher and current Psychology Coach for the Boston Red Sox, Bob Tewksbury, made an appearance at the Federal Savings Bank Apple Harvest Day booth. Federal Savings Bank is the proud underwriter of Apple Harvest Day, which is a fall festival produced by the Greater Dover Chamber of Commerce.
Federal Savings Bank employees volunteer every year to participate in the American Cancer Society's Relay for Life Walk. Over the last few years, FSB employees have raised over $15,000 for the American Cancer Society.
For over 10 years, Federal Savings Bank has participated in the United Way's Day of Caring. A group of FSB employees volunteer to help work at a deserving non-profit organization for a day. Here, a group of FSB employees help do yard work at a youth camp in Strafford.
Each year, Federal Savings Bank employees volunteer to produce an internal campaign to raise funds for the United Way. The staff picks a theme, prepares a breakfast and holds several fundraising activities throughout the year.
Federal Savings Bank partners with Seacoast Media Group and The United Way to produce the annual Spirit of the Seacoast awards. Federal Savings Bank employees serve on the committee that selects deserving volunteers in the community to receive special recognition. FSB grants each recipient a $500 grant to donate to a non-profit organization. To date, FSB has donated over $12,000 to the Spirit of the Seacoast program. In this photo, FSB Vice President, Kelly Glennon, presents a volunteer award to John Miskus, a volunteer for the Dover Adult Learning Center
FSB Vice President, Kelly Glennon, receives the 2006 Volunteer of the Year Award from the Greater Dover Chamber of Commerce.
FSB recently pledged a $50,000 donation to the capital campaign for Cross Roads House, a homeless shelter in Portsmouth. In this photo, FSB employees Kelly Glennon, Deb Scott and John Crisp attend the Cross Road House annual fundraising benefit.