HomeMy WebLinkAboutAgenda - 02-19-2013-11bORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: February 19, 2013
Action Agenda
Item No. 11 -b
SUBJECT: Small Business Loan Program Board - Appointment
DEPARTMENT: Board of Commissioners PUBLIC HEARING: (Y /N) No
ATTACHMENT(S): Under Separate Cover
Member Roster
Information regarding creation, duties
And Purpose of this Board
INFORMATION CONTACT:
Clerk's Office, 245 -2130
1
PURPOSE: To consider making an appointment to the Small Business Loan Program Board.
BACKGROUND: The following appointment is for Board consideration:
• Appointment to a full term for an Orange County Commissioner ending 12 -31 -2013.
POSITION NUMBER
SPECIAL REPRESENTATION
EXPIRATION DATE
1
Board of Commissioners
12 -31 -2013
FINANCIAL IMPACT: None.
RECOMMENDATION(S): The Board will consider making an appointment to the Small
Business Loan Program Board.
2
From the original documents creating the loan program, regarding its purpose:
"The purpose of the Orange County Small Business Loan Program is to stimulate the
creation of good jobs for Orange County citizens, as well as to stimulate successful
business development and expansion. The program will attempt to assist businesses
that have limited access to financing through conventional means or other government
guaranteed sponsored programs. .."
The Program was created as a nonprofit, but is fully funded by Orange County. The
recent quarter cent sales tax provided additional support, up to $200,000 annually.
To date, the Program has disbursed loans to 7 local companies totaling $300,000.
The Program's Bylaws mandate that the Program is managed by a volunteer Board of
Directors, consisting of eight individuals:
• 1 member of BOCC, as designated by that Board from time to time (vacant);
• 1 member of the Orange County Economic Development Commission, as
designated by that Commission from time to time (our current representative is
Tom Underwood, HR Director from PHE);
• The Director or Orange County Economic Development;
• The Orange County Financial Services Director;
• Two Bank Directors (i.e. employees of financial institutions) — current
representatives are Jim Evans from Bank of Harrington and Brad Curelop from
BB&T; and
• Two Small Business Directors (i.e. small business owners) — current
representatives are Sherry Gray, owner or Yesterday and Today frame Shop in
Hillsborough, and Tom Proctor, owner of the Vacuum Cleaner Hospital in Chapel
Hill.
The Board does not have a standing meeting time; the Board meets only when a
thoroughly vetted application has been received. In the past, this has averaged out
to approximately every couple of months. There have been circumstances that the
Board has met monthly; but they have also gone several months without meeting.
In general, the duties of the Board are to receive applications, review the materials in
advance of the scheduled meeting, discuss the application during the Board meeting,
interview the applicant during the Board meeting, and make a decision on the loan
request. Additionally, the Board may also make a decision on loan modifications, and
the Directors encouraged to publicize the Loan Program to potential applicants.
Orange County Small Business Loan Program Company
Board of Directors
Updated February 4, 2013
Name
Role
I
Company
Address
Phone
Email
Term
Term
Begins
Expires
Jim Evans
Bank Director
Harrington
1203 MLK, Jr Blvd
913-1971 (w)
ievans ban katharri ngton.com
3/27/2008
6/30/2012
Bank
Chapel Hill 27514
President
Brad
Bank Director
BB&T
351 S. Churton Street
644-0899 (w)
bcu relo r)CcD-g mail. com
5/13/2011
6/30/2013
Curelop
Hillsborough 27278
Vice President
Clarence
County Director
Orange County
200 S. Cameron St.
cqrierCcD-oranqecountvnc.qov
n/a
n/a
Grier
Finance
Hillsborough 27278
Director
Sherry Gray
Small Business
Yesterday and
110 Boone Square -
919-732-9795
yesterdayandtgdayframeshop@yahoo.com
3/27/2008
6/30/2012
Director Asst.
Today Frame
Suite 25 Hillsborough
Sec/Treasurer
Shop
27278
Tom Proctor
Small Business
Vacuum
tom(@,vacuumhospital.com
5/13/2011
6/30/2013
Director
Cleaner
Hospital
County Director
Orange County
n/a
n/a'
Commissioner
Steve
County Director
Orange County
P.O. Box 1177
919-245-2326
sbrantley@oranqeco c.gov
n/a
n/a
Brantley
Economic
Hillsborough 27278
Development
Director