To the editor:
Caribou, and our surrounding communities not serviced by a chamber of commerce (including New Sweden, Stockholm, Connor and Woodland), have just over 490 businesses: this includes farmers and hairdressers. In 1998 and 1999 the Caribou Chamber put out one newsletter to its membership. Beginning in 2002, and every year since, we have put out quarterly newsletters (four a year, every year) to not just the membership, but all the Caribou businesses. In 2007 we began putting out newsletters to New Sweden, Stockholm, Connor and Woodland businesses, along with members outside Caribou, and all Caribou businesses.
The membership of the Caribou Chamber was (by the records we were able to find) approximately at a high point in 1999: 70 members. The Caribou Development Corp. had a membership of 49 members at the end of 1999. As of 10/26/10 the CCC&I is managing 26 active loans. At year-end 2009 the CCC&I was managing 33 active loans. The administration of loans is more than receiving and booking a payment each month.
In 1995 the CDC made two new loans; one in 1996; four in 1997; 14 in 1998; two in 1999; four in 2000; two in 2001; nine in 2002; three in 2003; three in 2004; one in 2005; five in 2006; five in 2007; 11 in 2008; 0 in 2009 and so far, one in 2010. During this period we leveraged just over $10 million in bank loans with those notes, and those afore mentioned loans totaled $4.65 million in Caribou, Maine.
In 2008 our loan clients owed our organization $2.4 million, and those clients/businesses paid $202,600 in property taxes to the city. Their gross payroll in Caribou was $7.9 million, and their gross sales were just over $19 million. In 2009 our loan clients owed us $1.8 million dollars and paid $267,781 in property taxes to the city. Their gross payroll was $7.4 million, and their gross sales were $19.8 million. Of those clients which we have, a full well 75 percent of them had tried to obtain GAP financing from other GAP lenders, assistance with plans, or other programs, and either been turned down, or returned to our organization and Aroostook SCORE, for further assistance, as their interactions with those entities had not been necessarily positive. I am fairly certainly we had two denied packages the last three years who were not pleased with their outcomes and/or the process with our organization. I also believe we had two perspective clients from 2001 to 2007 who were not pleased. Now, I know you can’t please everyone, and I know there are times when some clients cannot be helped. I know it goes on everywhere, and it is not a reflection on any particular individual working for an institution. But I am still keeping track of the people we did not help (or who were dissatisfied with our organization), because it is important to me, and I believe it is important to them as well.
In 2009 we received three package requests which were denied. In 2010 we did not receive any packages which were denied, but I did speak with and assist six perspective businesses as they applied to other agencies (be it Coastal, FAME, or other SBA guaranteed micro-enterprise programs).
Since 2002 membership has fluctuated between 210 and 245 members (245 in 2006). We had exactly 134 members “in good standing” on Sept 30, 2010. Since that date, we’ve received 48 payments from members, bringing them current (182 members “in good standing”). This does leave us with 46 members on our books who may be 30-plus days behind on their dues. I consider these businesses still members, receiving benefits, and referrals from our organization. I believe they consider themselves members as well.
I would like to reiterate my first and constant goal these last 10 years has been customer service: the customer is always right. The second goal has been to be fiscally responsible for the tax monies we’ve been given each year by the taxpayers in Caribou.
Finally, one last plug: we are coordinating pies for The Bread of Life Soup Kitchen for Thanksgiving. They need 30 homemade pies (and they will for Christmas too), and if you’d like to help contribute, call us at 498-6156, and we’ll get you on the list!
Wendy Landes
Caribou Chamber of Commerce & Industry
