Treatment Center Serves Santa Fe with Help from a Small Business Loan and Grant

Jan 21, 2016, 15:12 ET from Federal Home Loan Bank of Dallas

SANTA FE, N.M., Jan. 21, 2016 /PRNewswire-USNewswire/ -- Amy Lashway, a behavioral health professional and licensed therapist with 28 years' experience, recognizes the increasing need for mental health services in New Mexico.

In 2011, she established Solutions Treatment Center, which provides behavioral health counseling and addiction recovery programs to adolescents and adults.

"I decided to open my own treatment center and offer something to the mental health industry that was missing," Ms. Lashway said. "We are a middle ground for those coming out of inpatient settings who are not ready to go home, as well as for those living at home who need more intensive therapy as an intervention before needing to go inpatient. Solutions Treatment Center is one of the most comprehensive treatment centers in New Mexico and is unique, not just in New Mexico but nationally as well. I am extremely proud of the work we do here."

To keep up with demand, she purchased an office building at 2209 Miguel Chavez in Santa Fe through a loan from Century Bank that was funded by an Economic Development Program (EDP) advance from the Federal Home Loan Bank of Dallas (FHLB Dallas). In conjunction with the loan, Ms. Lashway was awarded a $25,000 EDPPlus grant from Century Bank and FHLB Dallas.

"The grant helped with many important details: moving costs, renovations, hosting an open house for the community, business development efforts, and fees associated with new security and telephones," she said. "Without it, I would not have been able to put forth the business development efforts or purchase needed furnishings for the new space right away. We have a very warm and nurturing space here."

Century Bank Vice President of Small Business Commercial Lending David Valdez said Ms. Lashway was an ideal candidate for the EDP advance and EDPPlus grant. "She presented a well-thought-out business plan and brought significant experience to the table."

He acknowledged the benefit of the EDPPlus grant as a competitive differentiator.

"The grant strengthens our whole relationship with the small business," he said. "The extra capital infusion says, 'Thank you, small business for banking with us, and here is a little extra to help your business succeed.'"  

EDPPlus grants are awarded in conjunction with EDP advances and are available on a first-come, first-served basis to promote and enhance small-business development and job creation.

Ms. Lashway's treatment center employs three full-time staff members and five contractors. The business' expansion will add three more part-time positions to better serve this state that "ranks among the worst in serious mental illness rates," according to a January 2015 report by New Mexico's legislative finance committee. 

Deborah Collins of the Santa Fe Small Business Development Center worked with Ms. Lashway on her business plan and financial projections.

"I was so impressed with her drive and compassion," Ms. Collins said. "It was a pleasure to know that I could help her obtain this added capital, so she could establish a facility of her own."

Ms. Collins added that the EDPPlus grant program offers direct economic impact for the community.

"I am a big proponent of the EDPPlus grant program," she said. "Business owners can use all the help they can get. This grant program is a valuable component of our partnership with Century Bank and FHLB Dallas to create jobs and grow healthy small businesses."

In 2016, FHLB Dallas will make $1 million available for EDPPlus grants. In 2015, FHLB Dallas awarded nearly that amount to assist 50 small businesses in the Bank's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. In New Mexico, EDPPlus grants totaling $60,800 were awarded to three small businesses.

Gustavo Molina, senior vice president and chief banking operations officer at FHLB Dallas, said the EDP advance and grant program support economic development activities, which improve the quality of life in communities.

"EDPPlus grants demonstrate the power of community banking to create win-win scenarios within communities," he said. "This is a differentiator for our members, who can help businesses maximize limited resources. Plus, it enhances each small business in some way, as in funding additional inventory, better finish-out, or to be used as working capital."

About Century Bank

Established in 1887, Century Bank is a locally owned community bank that offers a full range of quality banking products and services to businesses and residents of Santa Fe, Española, Albuquerque, Las Cruces, and Rio Rancho, New Mexico. For more information, visit the bank's website at MyCenturyBank.com.

About the Santa Fe Small Business Development Center

SBDCs provide no cost confidential management assistance, business resources, and low-cost entrepreneurial education to current and prospective business owners. The Santa Fe SBDC is a member of the New Mexico Small Business Development Center Network with 19 centers statewide, an International Business Accelerator, and a Procurement Technical Assistance Program. NMSBDC is a fully-accredited member of the national ASBDC. The Network is a partnership of the US Small Business Administration, the state of New Mexico, the New Mexico Association of Community Colleges, the New Mexico Association of Independent Community Colleges and the private sector; building New Mexico's economy one business at a time.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System, created by Congress in 1932. FHLB Dallas, with total assets of $43.0 billion as of September 30, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 865 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.  For more information, visit fhlb.com.

Contact:

Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

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SOURCE Federal Home Loan Bank of Dallas



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