Target Rich Enviorment

FROED loans $2M to
 15 Fall River businesses in 2010
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By Michael Holtzman
Herald News Staff Reporter
Posted Sep 27, 2010 @ 12:00 AM


FALL RIVER — The Fall River Office of Economic Development has provided low interest loans to 15 local businesses totaling nearly $2 million this year, according to a recent press release from FROED officials.

Those loans are targeted to help retain 350 city jobs and create 62 new positions, reported Kenneth Fiola Jr., FROED executive vice president.


“Typically in a normal lending year we probably loan between $1.3 and $1.8 million,” Fiola said. The first eight months this year are indicative of a small turn in the economy and companies are now looking to reinvest.”

The businesses that received funds through the FROED loan programs include: Amaral’s Central Market, B.G.B.; LLC d/b/a Consolidated Thread Mills; Barcelos Bakery; Bell Garment Co., Inc.; Fall River Ford, Inc.; Famosa Hair Salon; Fitzgerald Insurance & Financial Services; Griffin Manufacturing Company, Inc.; HealthFirst Family Care Center, Inc.; Ledoux & Company, Inc.; Main St. Nat. Title & Closing Services, LLC; Northeast Food and Beverage LLC; Oliveira Construction, Inc.; Raw Seafoods Inc. and Red Velvet Florist Inc.

Mayor Will Flanagan, who chairs the private, nonprofit FROED board of trustees as the mayor, and businessman Alan Amaral, its president, said the impact of the long-standing loan program helps the city in multiple ways.

“Success of business here in the city is a key component to the development and prosperity of the city,” Flanagan said.
FROED’s services “not only benefit the businesses who utilize those but also the city as a whole through job retention and creation,” Flanagan said in a press statement issued by Lynn Creamer, FROED’s economic development coordinator hired earlier this year. Creamer also plays an economic development role to the mayor’s office.

Amaral said FROED continues to follow its mission since being established in 1978. That includes “promoting the prosperity and general welfare of the citizens of Fall River through the stimulation of economic strength and expansion of new and existing businesses.”

He cited financial assistance to local businesses and project management as two resources it provides.


He listed several long-term and ongoing development projects FROED has been involved with, including the Fall River Industrial Park, Commerce Park and eminent domain takings for Meditech and the University of Massachusetts Advanced Technology Manufacturing Center on Martine Street.


The City Council has asked Fiola and the administration to attend a Committee on Finance meeting and update the council on recent economic development projects.

Fiola said the information about the ongoing loan program was coincidental to that recent council request.


He said the addition this year of two staff persons to fill long-vacant positions will include providing quarterly updates on FROED programs.


The agency, housed at Government Center, lists $65 million in loans to more than 600 city businesses since its inception. The listed benefits have been retention and creation of 14,000 jobs over that 32-year period, the press release said.


Applicants for loans are asked to submit an application, financial statement and business plan to the FROED office.
E-mail Michael Holtzman at mholtzman@heraldnews.com.

" TheShadow:

"I wouldn't believe anything that dork Fiola says even if his tongue was notarized." "

My oh my, a voice of reason found on the commenter's section in the Fall River Herald News (HN), otherwise known as the worst fish wrap money can borrow. But let's look at several of the goings on of recent vintage in Fall River shall we?! You must admit, with the advent of fall, Fall River has become a target rich enviornment.

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  You have to LOVEEEEEEE this story (above). When all is said and done, and all the many propaganda hacks defending FROED stop yacking for a minute, the chirping you hear are the local "crickets of commerce" hiding in the weeds but still very much detectable. It's a vast and unending insult to Fall River citizens that these clowns are able to steal the way they do without being called out and by continuing to raid the FROED, largely publicly funded treasury, with complete brazenness and impunity. Oh Lord, where are the FBI undercover agents when you need them! Just promise Fiola the Weeper more cash and he'll get caught in record time. AMAZING! FROED's operations are really like a revolving fund/Ponzi scheme, a private savings and loan , with your money and your full and faith and credit backing them. You, the Fall River taxpayer swallow the losses. That's the truth. But it's the truth Fiola, Amaral (or as I like to call him on the pages of the HN's commenter's pages "Pocketnuts Troy" - that will get an angry response I'm sure...hey loser, go play with your yo-yo's!) and the rest of the happy band of thieves don't want you to consider.
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  "So....youze wannah buy a chance to make some dough? Just buy inta dah sweepstakes I'm runnin'....hey, it's not like before, it's LEGAL!"... You have to hand it to Pellitier, he sure knows suckers when he sees them. Internet cafe' my buttocks! All I can say is "what's the administrative fee and payoff schedule there Oh crooked one?! A fool and his money are soon parted....who said that...oh yes, Wampanoag Chief Cromwell. He was soooooo right!
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  The dirty dozen! It's not the title of a WWII movie we all have seen, it's the number of jobs that REALLY were expected by FROED and  Fiola the Weeper from the Bio-Park. The 8,000 jobs would come over a period of 15-20 years, or so he says NOW!  Myself, I think he's simply softening the blow for the news that the Bio-Park is going to New Bedford, not in any of these "PRIME" Fall River locations offered to UMASS/Dartmouth or the Baccari (THE PRESUMED BRIBER OF ELECTED OFFICIALS) owned land in Freetown, the alternative "make-up" locations made available AFTER the public started going bat guano crazy about losing BOTH the casino AND the Bio-Park. That's probably the game afoot with FROED. Tell everyone the Bio-Park wasn't so great an idea and trumpet scads of well paying (HA!) jobs - $25 - $35,000/year - jobs available at a casino...if it ever gets built. The City Council drilled the two fools  (Fiola the Weeper and "little Napoleon Torres) sent into harms way by Bag-Boy Deluxe Sylvanagan. Oh and just about any and all concrete information about all of FROED's dealings surrounding the Bio-Park and the casino are still on "double secret probation" status. Sounds like Nixon's secret plan to end the Vietnam War to me! Hooey and crapola is what the public is getting from FROED and mayor Sylvanagan.

That's enough for now...so much negativity is bad for a person's health. So with that, I'm signing off for now....but later...I'll discuss MMB and the deplorable situation at the Fall River School Department....MCAS lives!