Mainebiz

W W W. M A I N E B I Z . B I Z 9 M A R C H 6 , 2 0 1 7 Boulos has developed and built more than 2.5 million square feet of commer- cial property in the Portland area. New Chamber leaders named Two of Maine's largest chambers of commerce have new leaders. Katie Doherty, a Waterville native, has been promoted to president and CEO of the Kennebec Valley Chamber of Commerce. Doherty has served as the Augusta-based organization's program director since 2015, leading programming like the Kenney Awards and the cham- ber's annual business expo. She replaces Ross Cunningham, who resigned in October after two years. Meanwhile, the Lewiston Auburn Metropolitan Chamber of Commerce named Rebecca Swanson Conrad as its president and CEO, taking over from Matt Leonard, who resigned in November. N O T E W O R T H Y C E N T R A L & W E S T E R N Scott and Tracy Blaisdell and Tamara Richard recently purchased Surry Seafood Co., a restaurant in Dixfield, and used a loan from Community Concepts Finance Corp. to purchase heating equipment to keep the busi- ness open year round. VIP Tires & Service in Lewiston an- nounced it is donating $52,512 to Make-A-Wish. Daniel Stevens and Avery Day an- nounced a partnership in a new law firm, Stevens & Day LLP in Augusta. Wiscasset divided over MDOT's Route 1 project Four Wiscasset Village businesses have filed a complaint and a motion for preliminary injunction in the Lincoln County Superior Court, seeking to stop a Maine Department of Transportation project on Route 1 that Wiscasset voters approved in a nonbinding town referendum vote in June 2016. Filing the complaint are the Wiscasset Village businesses Wawenock LLC, Bermuda Isles, LLC, 48 Federal Street LLC and 32 Middle Street LLC. e plaintiffs allege the project has substantially changed since that vote and are seek- ing an injunction to stop the project in Wiscasset Village. e Bangor Daily News reported the plaintiffs' want a "valid" referendum vote after MDOT discloses the costs it intends the town to pay, and after showing the project will comply with all appli- cable historic preservation standards. N O T E W O R T H Y M I D C O A S T & D O W N E A S T Camden National Corp. reported net income for the fourth quarter of 2016 of $10.9 million and diluted earnings of 70 cents per share, which was consistent with the previous quarter's performance. For the year ended Dec. 31, 2016, the bank reported net income of $40.1 million and diluted earnings per share of $2.57, representing a 91% increase in net income and a 49% increase in diluted earnings per share over last year. Organizers of the 13th Annual Pies on Parade Pie Tour in Rockland do- nated $25,768 to the Area Interfaith Outreach Food Pantry and Fuel Assistance Program from ticket sales, silent auction and raffle proceeds, and cash donations from the annual event. Acadia and EMMC credit unions to merge EMMC Federal Credit Union of Brewer and Acadia Federal Credit Union of Fort Kent will, combined, have eight branch offices and serve 15,000 cus- tomers. Combined, the institution will have $200 million in assets. Pending reg- ulatory approval, the merger is expected to be completed by early 2018. e credit union will be known as Acadia FCU. David Desjardins, president and CEO of Acadia FCU, will remain CEO of the combined credit union. All current employees, 64 in all, will be kept on staff. ere are 50 employees with Acadia FCU and 14 at EMMC FCU. EMMC FCU serves employees of Eastern Maine Health System and its affiliates and has two branch offices in Bangor and one in Brewer. Acadia serves Aroostook County with branches in Fort Kent, Madawaska, St. Francis, St. Agatha and Ashland. IGA stores under new ownership ree IGA grocery stores in Aroostook County will have new ownership effective March 6. e A fter a two-year study, TD Bank is stepping up its focus on small business lending and other services in New England and upstate New York. "We're adding employees to our small business team and growing small busi- ness lending," Doreen Warren, small business market manager for the bank, told Mainebiz. Based in Portland, she covers Maine, New Hampshire, Vermont and upstate New York. While the bank plans to add 50 to 75 small business specialists in all, it intends to hire two in Maine by mid- March, she said. The bank defines small businesses as those with less than $1 million in revenue annually and fewer than nine employees. Small businesses employed about three-fifths, or 278,957, of the state's private workforce in 2012, accord- ing to U.S. Census Bureau statistics. They make up 96.9% of all employers in the state. Warren said TD Bank is second in 7(a) commercial real estate trans- actions through the Small Business Administration and third in SBA dollar amount in Maine. From Maine to Florida, it ranks 15th nationwide in SBA lending. In numbers, TD Bank's SBA portfolio of 7(a) loans in Maine was up 29% from fiscal 2015 to fiscal 2016 ended September. Fiscal 2015's $4.66 million dollars ranked it fourth by transactions and fiscal 2016's $6 million lent put it in the No.2 slot. Lending so far in fiscal 2017 is $757,000. Warren said the bank's goal is to continue expanding its SBA portfolio in Maine and remain a top lender. It also works with the Finance Authority of Maine to guarantee loans. "We ran a pilot that proves businesses want this [more small business sup- port]," Warren said. The two new Maine employees will be located in Portland and in southern Maine, likely Kennebunk. The new employees will focus on Portland, Scarborough, Kittery, Sanford, Saco, Kennebunk, Biddeford, York, Yarmouth, Falmouth, Windham, Gorham and Standish. Warren said there will be a couple phases in the small business expansion, starting with the hiring but also adding lending, accounting and other services in a wide range of industries. The bank plans to hold seminars for potential customers to describe its services. "Maine offers a lot of seasonal products and services, so there are banking opportunities for us," she said. The bank has many 24-hour locations, and its offices open early and close late, she added. She said the volume of SBA lending already is picking up in 2017 and is a big focus for the bank. Currently, loans can only be processed in person or using a fax machine. However, the bank is simplifying the application process by making it digital. It hopes to offer online applications some time in 2017 or 2018, she said. TD Bank noted that there's a lingering perception that banks aren't lending, but a business owner needs to consider his or her needs and then work with their banker to determine the right type of financing. Sometimes, it might make more sense to pay for short-term needs with a credit care than a loan or line of credit, she said. TD Bank's focus on small businesses is broad. It also is hiring small busi- ness specialists in New York City, Philadelphia, New Jersey, metro Washington, D.C., South Carolina and Florida. Added Jay DesMarteau, head of Small Business Banking at TD Bank: "Small businesses are incredibly important drivers of local economies. As bank, we're invested in making a positive impact in the communities we serve, and enhanc- ing how we help local small businesses is an important component of this." TD Bank looks to small businesses for growth B y L o r i V a l i g r a B I Z M O N E Y M I D C O A S T & D O W N E A S T N O R T H E R N & E A S T E R N P H O T O / C O U R T E S Y T D B A N K Doreen Warren, small business market manager for TD Bank.

• Cover