Region 10 welcomes Dan Scinto as its new business loan fund director. With a knack for commercial lending, Scinto brings over 25 years of banking experience to this newly redesigned post.
A Minnesota native, Scinto relocated to the Western Slope for its outdoor recreational opportunities. Scinto adds that as an avid hunter, fisher, and outdoors enthusiast, he couldn't imagine living anywhere else.
Aside from his eagerness to recreate, Scinto also brings an eagerness to help the business community. "I get goosebumps talking about credit," he adds. "I absolutely love it."
"Region 10 is pleased to have Dan join our team," comments Mich-elle Haynes, executive director of Region 10. "His prior experience and enthusiasm for serving our local businesses will enhance the services we are able to offer to businesses in our communities, providing capital for business expansion and new jobs, in addition to the educational and consulting services available through the Small Business Resource Center."
Scinto hopes to bring a personalized touch to his new job. "I plan on regularly visiting the businesses who we make loans to, just to check in and see how they are doing," Scinto comments.
In addition to personal visits, he envisions developing a post-loan education program that provides additional support and technical assistance to these businesses. "One of our biggest failures in this economy is the lack of support businesses receive after getting a loan," he adds.
The business loan fund is a unique lending mechanism available for local businesses in the six-county region of Delta, Montrose, Gunnison, Ouray, Hinsdale and San Miguel counties. Often referred to as a "lender of last resort," the loan fund offers "gap financing" for local businesses that are already working with private lenders, but still need more capital to achieve their business goals. The funds can also be leveraged by new or existing businesses which have a strong business model and plan, but may not qualify for a traditional bank loan. Typical loan amounts range from low amounts of $2,500 up to $250,000 for businesses providing new jobs in the community.
Over the years, Region 10's business loan fund has developed strong relationships with local banks, helping increase the output of loans into the community. Once allocating on average six loans a year, the fund now doles out four times this volume annually, providing well-needed capital to economically struggling communities.
Businesses that have already received a loan from the BLF or those in the process of applying can expect to see Scinto in the near future.
To learn more about the lending program or to contact Scinto, call 970-765-3126 or email email@example.com.
The election results are in at the local, state and national level, and as expected, Democrats are doing well in state and national races. Colorado has elected Jared Polis as governor; nationally the Republicans appear to retain control of the Senate while Democrats now control the House of Representative.
With a ballot full of local and state measures, voter turnout in Delta County topped 71%, with 15,889 ballots cast. Statewide, voter turnout was just over 52%.
Of the three Delta County residents seeking state offices, Matt Soper won over Thea Chase in State Representative Dist. 54; Mike Mason lost to Julie McCluskie in State Representative Dist. 61; and Olen Lund lost to Kerry Donovan in State Senate Dist. 5.
Locally, in the City of Delta voters rejected a .5% sales tax increase to fund recreation, as well as recreational marijuana sales. The sale of medical marijuana and cultivation/manufacturing facilities was approved by a slim margin. Delta voters also gave the city the green light to move forward with selling or trading the Cottonwood and Riverbend Park, and to sell the old Municipal Light and Power Building.