Local Banks See Large Growth In Commercial And Small Business Administration Loans

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This is the Glens Falls National Bank branch office at 8446 Route 22 in Granville. Banks like Glens Falls National look for opportunities to expand their footprint into new areas.Courtesy Glens Falls National Bank

By Maureen Werther

Local and regional banks are reporting record growth and increased attention being paid to expansion–physically and technologically–as they continue to court the growing number of businesses that are expanding throughout upstate New York.

While some local banks, like Adirondack Trust Co. are building upon their already strong relationships with customers in the immediate area, other banks, like Ballston Spa National Bank and Saratoga National, have seen significant growth as a result of expanding into other regional markets.

Still other banks, like NBT, which has branch offices throughout the state, are continuing to be viable competitors by offering high-caliber services to meet the needs of a diverse customer base.

Stephan Von Schenk, president of Adirondack Trust, said last year saw record growth across all three of their lending portfolios, with residential and consumer lending up by 15 percent.

“Anything over 10 percent is very fast and is not sustainable without expansion and increasing infrastructure,” he said.

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Bank: Precautions Should Be Taken During Tax Season To Prevent Exposure To Fraud, Scams

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Charles V. Wait, Jr. is executive vice president at Adirondack Trust Co.Courtesy Adirondack Trust Co.

As the 2017 tax season gets underway, the Adirondack Trust Co. is urging all customers to take extra precaution when filing their returns to prevent exposure to tax fraud.

“Fraudsters are using very clever tactics to get ahold of your personal information and submit false tax notes,” said Charles V. Wait, Jr., bank executive vice president. “Consumers must be suspicious of any communication from the IRS through email, text or social media that requests personal information, and should keep a watchful eye out for missing W-2s and mail containing sensitive financial information.”

Tax identity fraud takes place when a criminal files a false tax return using a stolen Social Security number in order to fraudulently claim the refund. Identity thieves generally file false claims early in the year and victims are unaware until they file a return and learn one has already been filed in their name.

To help consumers prevent tax ID fraud, the Adirondack Trust Co. offered the following tips:

• File early. File your tax return as soon as you’re able, giving criminals less time to use your information to file a false return.

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Woman Transformed Farm Land And Old Barns Into A Scenic, Rustic Wedding Venue

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Burlap and Beams, shown lit up at dusk, hosts about 20 weddings between May and October each year, according to owner Terri Larson.

By Jill Nagy

Terri Larson has transformed a cluster of barns dating from the 1800s and a large open field with views of Three Sisters Mountain into a romantic venue for summer weddings.

Her company, called Burlap and Beams, hosts about 20 weddings between May and October each year.

Larson lives in the farmhouse on the property and her day job is as a third grade teacher. However, when school is out, she becomes a wedding entrepreneur.

She said she got the idea from a friend who asked to use the property for her wedding. The property was not in any shape for a wedding. That ceremony landed elsewhere, but the idea took root.

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Head Of Orthopedic And Spine Physical Therapy Doesn’t Shy Away From A Challenge

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Denise Buher is the owner of Orthopedic and Spine Physical Therapy PC which has locations in Queensbury and Moreau. She has been in operation for 21 years.

By Maureen Werther

With 21 years under her belt as owner of Orthopedic and Spine Physical Therapy PC, one of the biggest differences owner Denise Buher sees is how increasingly complicated it has become to spend more time with patients and less time with paperwork.

Despite those challenges, Buher, who is a certified therapist in mechanical diagnosis and therapy of the spine from the McKenie Institute, is still happy with the decision she made more than 20 years ago to go out on her own.

Buher began her career as a senior therapist on the staff of Glens Falls Hospital, where she said people automatically mistook her for a supervisor.

“That’s probably because I always acted like one,” she said.

Buher started out as a solo practitioner, hiring a physical therapy assistant the following year.

Gradually, she added more employees and now she manages a staff of 15, including four full-time and two part-time physical therapists, one full-time and two part-time PT assistants, and six administrative and support staff.

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Kathleen Kelly Established Thriving Business With Queensbury Cigar & Pipe On Route 9

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Kathleen Kelly moved to the area 24 years ago and opened a coffee shop. She has since expanded, running Queensbury Cigar & Pipe, where customers can get a cigar, coffee, wine and beer.

By Jennifer Farnsworth

Having a strong work ethic, along with perseverance, are two things many small business owners say are part being successful.

Kathleen Kelly, owner and CEO of cupojoes.com and Queensbury Cigar & Pipe, may be the perfect example of this mantra. From selling her first cup of coffee 23 years ago, to now, Kelly is making her mark in the business.

Kelly moved to Lake George from Long Island 24 years ago, after having a hard time finding work. While still in Long Island, she was selling electrical supplies and had a moment where she decided to make a change.

“I decided to make things happen for me. To me it’s all about hard work and never giving up, trusting your gut. In 1994, I decided to open a coffee shop in the village called Cup O’ Joes. I remember making $11 on my first day and being so excited,” said Kelly.

Kelly said that first year was during what was she called the “cigar boom.” She said noticed many people seemed to be looking for a quality cigar. After her first year in business with the coffee shop, she purchased a small cabinet humidor and stocked cigars, eventually adding some pipes to the shop.

She said during this time the internet came about, so she began an e-commerce web site, cupojoes.com. Eventually, Kelly moved the business to Queensbury, becoming Queensbury Cigar & Pipe.

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Premier Plus Travel & Tours Moves Office From Queensbury To Warren Street In Glens Falls

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Dawn Biddiscombe, owner and operator of Premier Plus Travel & Tours, along with her son Matt Colucci, poses next to the company’s executive-style Mercedes tour van.

By Margaret McDonald

Premier Plus Travel & Tours, an independent travel and tour agency, recently opened a new office on Warren Street in Glens Falls.

Run by mother-and-son team of Dawn Biddiscombe and Matthew Colucci, the company aims to provide safe and reliable transportation to all. Transportation is offered for jaunts like New York City shopping tours, pub crawls, weddings, proms and runs to the airport.

Originally from Vermont, Biddiscombe maintained a travel hobby for 15 years before opening her part-time business three years ago booking travel and group deals.

She said she loves helping people find the most cost-efficient trips and is especially familiar with the Caribbean and Mexico.

After 13 years as a paralegal for AngioDynamics, Biddiscombe left her corporate job to devote herself entirely to the travel company. She described the decision as a turning point that enabled her to fully pursue her passion.

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Development Officials In Glens Falls Region Await State Decision On Grant Spending Plan

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Ed Bartholomew, president of EDC Warren County.Courtesy EDC Warren County

By Jill Nagy

Glens Falls planners and city officials have had the job for the last few months of deciding how to spend $10 million. The money comes in the form of a grant from the state’s Downtown Revitalization Initiative.

They came up with more than a dozen programs and initiatives ranging from a year-round farmers’ market to a “race for space” contest.

Plans were presented to the public at a Feb. 23 meeting. The final wish list will be reviewed by a statewide committee and then passed along to the governor, according to Ed Bartholomew, president of EDC Warren County.

Each proposed project will be reviewed. Bartholomew said the proposals total more than $10 million. If all 14 of them are approved, the city will seek other funding to make up the difference.

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Washington County Local Development Corp. Has 42 Active Loans, $1M Available To Loan

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Deanna Derway, president, Washington County Local Development Corp.

By Jill Nagy

With a $5 million loan portfolio to administer, the Washington County Local Development Corp. helps to foster a vibrant small business community in a largely rural county. Deanna Derway, president, executive director and the only employee of the corporation, “wears lots and lots of hats” keeping things going.

According to Derway, there are currently 42 active loans and she just made two more. Some $1 million is available for new loans.

The nonprofit corporation began in the 1970s with money from federal Community Development Block Grants. Aside from $80,000 a year from the county, interest, fees, and repayments of the loans made from those early grants sustain the organization.

Any business in Washington County is eligible to apply for a loan, she said. Applicants must be for-profit businesses and job creation is a criteria. (The unemployment rate in Washington County was 4.9 percent at the end of 2016, slightly above state and national averages).

The varied loan portfolio includes farms, restaurants, energy transport companies, cleaning services, delis and breweries. Typically, the corporation lends to businesses with some risk, “stuff banks may not want to lend to,” she said.

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