On Jan. 20, the Coastal Area District Development Authority gave a presentation to the Long County Chamber of Commerce on organization matters. The meeting at the Long County Senior Citizen’s Center let CADDA illustrate to chamber members how local businesses can benefit from the authority’s program.
CADDA CEO Andrew Standard and loan officer Wendy Jefferson gave the chamber a brief history on the authority
Standard said CADDA has been in business
since 1976, and has invested more than $1.6 million in Long County since
its inception. He also said authority funding has helped to create 48 jobs and many business in Long County, such as Huddle House and McCarn Farms.
Standard focused on CADDA’s revolving loan program, and Jefferson discussed the SBA 505 program.
According to Jefferson, the revolving loan
program usually focuses on smaller projects and SBA 505 is for larger ones.
Jefferson explained
the three project stages: application/credit, appraisal stage and environmental approval, and
said the turn-around time for a typical loan is a lot quicker than most think. It’s usually less than a week.
Other business discussed at the meeting included Long County Chamber of Commerce President Marky Waters’ membership report, which revealed membership increased to 86 in 2008 — 18 couples, 20 individuals and 48 businesses.
Waters said the next meeting is Feb. 17, when the chamber will here from Ebony Simpson of the Georgia Department of Community Affairs
There won’t be a meeting in March because of other scheduled activities, including the Business After Hours dinner on March 17. It will be sponsored by the Long County School Board. A member recruitment breakfast also is planned, but Waters said a date hasn’t been confirmed.
Member Betty Smiley said Long County Chamber of Commerce cookbooks still are available at the Long County Library.
CADDA CEO Andrew Standard and loan officer Wendy Jefferson gave the chamber a brief history on the authority
Standard said CADDA has been in business
since 1976, and has invested more than $1.6 million in Long County since
its inception. He also said authority funding has helped to create 48 jobs and many business in Long County, such as Huddle House and McCarn Farms.
Standard focused on CADDA’s revolving loan program, and Jefferson discussed the SBA 505 program.
According to Jefferson, the revolving loan
program usually focuses on smaller projects and SBA 505 is for larger ones.
Jefferson explained
the three project stages: application/credit, appraisal stage and environmental approval, and
said the turn-around time for a typical loan is a lot quicker than most think. It’s usually less than a week.
Other business discussed at the meeting included Long County Chamber of Commerce President Marky Waters’ membership report, which revealed membership increased to 86 in 2008 — 18 couples, 20 individuals and 48 businesses.
Waters said the next meeting is Feb. 17, when the chamber will here from Ebony Simpson of the Georgia Department of Community Affairs
There won’t be a meeting in March because of other scheduled activities, including the Business After Hours dinner on March 17. It will be sponsored by the Long County School Board. A member recruitment breakfast also is planned, but Waters said a date hasn’t been confirmed.
Member Betty Smiley said Long County Chamber of Commerce cookbooks still are available at the Long County Library.