Business Loans For Downtown

Today's Journal....

New business loan program supports downtown development


MIDDLETOWN —
Businesses interested in moving to downtown, or expanding, can get some assistance from First Financial Bank and Downtown Middletown Inc.

The two organizations have partnered to offer a Micro Business Lending Program that will inject as much as $100,000 to help revitalize the city’s downtown district. The program is geared toward small businesses with revenues of up to $500,000 a year or with 10 or fewer employees. The maximum loan per borrower for the one-time loan is $10,000.

“We want people to know we’re open for business,” said Patrick Kay, director of Downtown Middletown Inc., “and we want to see a bunch of activity down here.”

First Financial Bank officials say the program is designed to spur local economic development, and specifically small businesses.

“At First Financial, we’re committed to investing in the communities we serve,” said Jason Newport, First Financial Bank’s retail market manager. “This program will allow us to support local small business owners and help them position their company for greater success.”

The loan is designed to help businesses expand or relocate to downtown, or assist a start-up business to open.

The micro loan program is the second phase in Downtown Middletown Inc.’s initiative to create a vibrant downtown. Earlier this month, it was announced that downtown will see more than $650,000 worth of facade investments through a facade grant program managed by Downtown Middletown Inc. Eight businesses will receive a share of $50,000 from U.S. Housing and Urban Development funds.

The third phase will establish the city’s downtown as a historic district, which will have additional tax benefits for business owners, Kay said.

Downtown Middletown Inc.’s role in the micro loan program will vet potential applicants. If the projects would be a good fit for downtown, Kay said he’ll provide them with a loan application for the bank to process. Start-up business applicants should have a business plan and explanation of how the funds would be used.

The loan program is just another tool for the city, said Denise Hamet, Middletown Economic Development director.

“The funds provided by First Financial will help cover the gap that our small business sometimes have when trying to grow their business and also improve their facility,” she said. “As our small businesses grow, they create jobs, and there is additional economic development through increased demand for other support services.”

SOME OBSERVATIONS:

Doesn't Sir Lawrence Mulligan the Third work for First Financial? If so, couldn't we have reason to ask the question pertaining to the selection of the lending institution for this program and the suspicion that they may have been the only bank approached for this? Were any other banks asked to participate?

Why is this program just now coming into play? They've been talking "business friendly" for years but Kohler has done everything he could to keep selected businesses out.....IE, ones that he didn't approve of. What about the money the city loaned Beau Verre? Was it paid back to the taxpayers? How about the city taxpayer money given to Verdin for the PAC? Not a loan but just a gift, right? Why do some people have to apply for a loan to run a business in this town and others are given monetary gifts?

And what is this business of declaring the entire downtown as a historical district? Is this an attempt to bolster the S. Main St. area of town?

When reading the story, it appears this business loan program only applies to the downtown area. What about the offer to new businesses in the other areas of town? If this town were truely business friendly, it would provide help to businesses in ALL areas of town.

Why, after all these years, is there a full blown effort on an area of town that is out of the way, has police activity including prostitution, has nothing of interest to offer anyone in this town with the exception of the small segment of people drawn there for the arts and hasn't been a draw for shoppers for decades? To this day, with all the money spent and wasted downtown, the area is still 75% deserted and is not a hotbed of activity in attracting store occupancy.

Where is the effort out east and why has all the activity been curtailed by I-75? Again, wrong focus, wrong logic. I-75 is where the business visability is, not 7 miles west of the town entrance. Mercy sakes!

Vet.....With phrases like 'vet downtown applicants' and 'good fit for downtown', it sounds like Mr. Kay is getting well versed in KOHLERism's.

What I think is ironic is First Financial is commited to investing in the communities they serve.  What is the closest office they have to the downtown area?  Seems they pulled out of this area a long time ago.  My question to anyone at First Financial - Why not support it by putting an office down there yourself?

Vet

Boogyman
Boogyman
Boogyman
Everywhere a Boogyman

Middletown29 wrote: Vet Boogyman Boogyman Boogyman Everywhere a Boogyman

29....rather childish, don't you think? Just asking questions that some may be thinking. With some of the back door, friends of the city back patting, citizen-excluded things they have done behind the backs of the people, you'll have to forgive my lack of trust in them.

Ok, 29, let's approach this from another angle. I have a question for you since you seem to be the spokesperson for the defense of the city leaders and their activities toward the operation of this town.......you might even be one of the leaders which would explain your blind intellect.

What do you find so positive about what is occuring in this town,(pick a subject-doesn't matter) that makes you want to support the city leaders and all of the decisions that we read about each day? I am puzzled by your eagerness to defend them on this forum. You and the rest of us on this forum are looking at the same things happening, yet, we are polar opposites as to the outcome. Why is there such a drastic difference between our viewpoints? Are you a city employee who will defend the leaders to preserve your job? Perhaps a personal friend of one of the leaders? One of the leaders? Just a sh-- stirrer? Why do you believe everything they say and do, especially with the track record (that even you can't defend) as evidence?

I am interested in why you are so adamant about being positive in the midst of what seems to be one disaster after another. This is a discussion for understanding, not a name-calling session as we have had before. Talk to us and tell us why you see positives in the operation of this city.

Why has all the activity stopped on the east end?

Journal story....

New eateries play big role in downtown revitalization

By Michael D. Pitman
Staff Writer
MIDDLETOWN — As downtown Middletown transforms into an arts and education hub, more businesses are committing to the marquee intersection of Central Avenue and Broad Street.
When it opens Dec. 1, Sugar Hi Cafe will join two other eateries who are becoming a big part of the city’s downtown revitalization efforts. The Mockingbird Cafe in the Pendleton Art Center will have its grand opening later this month, and Stained 1054 Bistro at BeauVerre is set to open in November.

HERE'S OUR OLD BUDDY KAY AGAIN....

“Is it going to be competition? Absolutely not,” said Patrick Kay, Downtown Middletown Inc. executive director. “The more restaurants, the better.”
By spring, downtown Middletown “will be a completely different happening place downtown,” he said.

A "COMPLETELY DIFFERENT HAPPENING PLACE DOWNTOWN"




HE REPEATS...

“I think by the spring of next year, you’re going to see a whole new downtown,” Kay said. WE'VE BEEN WAITING FOR A "WHOLE NEW DOWNTOWN" NOW FOR DECADES. HOPE YOU'RE RIGHT KAY, BUT I HAVE MY DOUBTS....NOT WITH THE ARTS AND COFFEE SHOP THEME. JUST DON'T THINK IT WILL FIT HERE. WE'LL SEE.

“One of the city’s biggest concerns is making sure new small business owners understand the pitfalls and what hurdles they’re going to have to overcome,” said Matt Eisenbraun, Middletown Economic Development program manager. “Getting free assistance helps immensely.”

NOW, WHO IN THE HECK IS THIS MATT EISENBRAUN? WHERE DID HE COME FROM? DIDN'T KNOW THE CITY HIRED THIS GUY. WASN'T ANNOUNCED WAS IT? WHAT HAPPENED TO HAMET? THOUGHT SHE WAS THE ECON. DEV. MANAGER.

The more similar businesses there are in an area, and the more times they can work together via cross promotion or collaboration the better it will be fore the downtown, Eisenbraun said.
“It becomes more of a team mentality,” he said. “We can certainly use additional places for tourists to come in.”

WOW, DYNAMIC AND INFORMATIVE! TOURISTS, EHH?
Sugar Hi Cafe will open at 1100 Central Ave., the building that used to be a creole restaurant and pharmacy in previous lives. It will serve coffee, breakfast, lunch, smoothies and desserts.

I AM CURIOUS AS TO HOW MANY "FRU FRU" PLACES (AKA ARTZY BISTROS) CAN CONGREGATE IN ONE AREA AND STILL BE SUCCESSFUL, GIVEN THE CLIMATE OF THIS TOWN AND KNOWING THE MAJORITY OF PEOPLE LIVING HERE WON'T BE INTERESTED IN THIS TYPE OF MENU, I'M WONDERING HOW LONG THIS WILL LAST AND HOW MANY PEOPLE WILL WALK THROUGH THEIR DOORS ON A GIVEN DAY. THESE TYPES OF PLACES CAN'T ATTRACT ENOUGH CUSTOMERS TO KEEP THE DOORS OPEN FOR LONG, CAN THEY? I WISH THEM WELL BUT IS THERE REALLY AN AUDIENCE FOR WHAT THEY ARE OFFERING? THE DOWNTOWN COULDN'T EVEN KEEP A MORE "MAIN LINE" EATING PLACE LIKE QUISNOS FOR LONG. HECK, QUISNOS MAY BE TOO UPSCALE FOR THIS TOWN'S WAGES, MUCH LESS SPECIALTY COFFEE SHOP ITEMS WHICH ARE USUALLY HIGHER. WHY ARE WE TRYING TO BE SO "DONNY TRUMP-NEW YORKISH" HERE?

we need more coffee shops to bring the local economy back,dont get all you negative nelmers

Yes He Does

Learn something new each day.Im in the process of selling my properties to get the hell out of this conrupt city.We have so called "LEADERS" that lie out right to the people and when caught they just cover up with another lie.Until the people OPEN there eyes it will continue and this city will be back in FORBES but this time it will say "CITY files for bankruptcy.

Vivian Moon wrote: The thing that everyone seems to be overlooking is the fact that many years ago these downtown buildings were filled with doctors, dentist and attorneys just to name a few. These were the people that filled the many eateries downtown during the lunch hour five days a week. Where are the professional people that will fill these establishments everyday now?