HomeMy WebLinkAboutBusiness Development Forgivable Loan Fund AppsDESCHUTES COUNTY/ CITY OF BEND
Business Development Forgivable Loan Fund
- APPLICATION -
The Deschutes County Business Development Forgivable Loan Fund and City of Bend Business
Development Forgivable Loan Fund disburse moneys for the purpose of increasing employment and
capital investment in the county. The Fund has been established to offset the costs of business
relocation/expansion to and within the City of Bend, including moving of equipment, purchase or
construction of facilities, employee training, equipment purchase and site improvements such as the
extension of public services and utilities EDCO has been designated bythe City of Bend as the
administrator of this fund. The magnitude of funding is dependent on job creation (typically $1000-
$2000 per job).
Key Requirements Are:
• Grantees must create at least 5 new primary, permanent familywage jobs and shall have
retained those jobs for at Least one year.
• Optional: Grantees must document the investment of at least $5 of new, taxable
investments for each $1 allocated from the Business Opportunity Loan Fund.
Number of Employees. 65
Company Request: $50,000
EDCO Recommendation: $50,000 ($1,852 per job)
Proposed Job Creation by end of 2012: 27 new employees
Average Pay for New Employees (all positions, excluding commissions): $37,852
Capital Investment: $2,450,000
Industry: Technology
Website: http://marketing.navistechnologies.com
Section I — General Information
Date: November 16, 2010
Company Name: Buehner Fry, Inc. dba NAVIS
Location (City/County): Bend/Deschutes
Business Type: Software as a Service (SAAS)
Industry Type: Technology
No. of Employees: 65
HQ Address: 389 SW Scalehouse Court, S lE 100, Bend, OR 97702
State & Federal Taxpayer ID: 00697494-6 & 88-0302186 respectively
Company Contact: Kyle Buehner or Kate O'Connor
Title: President or VP Finance
Phone: 541-385-5255
Email: ksbuehnerfa?thenavisway.com or kaoconnorfa)thenavisway.com
Parent Company: NA
Website: http://marketinq.navistechnologies.com
Section II — Company Profile
1. Please provide a brief overview of your business.
The Company provides enhanced services and telecommunications to the vacation rental and
resort markets. The enhanced services include a reservation capture solution enabling vacation
rental managers and independent resorts to optimize business returns with increased caller
data, targeted marketing and visibility into the effectiveness of overall performance. The
company also offers a web -based housekeeping solution, a voice messaging system, and a call
center for reservation fulfillment.
Section III — Project Activities
1. Please outline the proposed activities for these funds. How will access to the Bend
OpportunityFund support your strategic objectives, while increasing your employment and
investment in the Central Oregon region?
NAVIS, as a company, is proposing to grow in the resort and vacation rental market by 50% over
the next two and half years. We are on track to exceed budgeted revenue by 9% in the current
fiscal year. In order to attain this goal, the company will continue to expand its infrastructure
with additional personnel and computer networking capacity. At present time, it costs the
company approximately $4,000 per person for workstations and user licenses at hire. We also
recently moved into a larger facility which cost the company $25,000 in tenant improvements
(i.e. cubicles, wiring, and upgraded Internet capacity).
Section IV — Grant Terms and Conditions
1. Total Employment
Grantees must create at least 5 new primary, family wage jobs (at $35,090 per year) and shall
have retained those jobs for at least one year. Please provide a quarterly projection of
expected job creation, including titles and/or descriptions. Also indicate expected wages.
Please see attached
2. Optional: Capital Investment
Grantees must document the investment of at least $5 of new, taxable investments for each
$1 allocated from the Business Development Forgivable Loan Fund. Please provide a
quarterly capital investment projection.
Please see attached
3. PrimaryEmployer Test
Grantees must be private firms in manufacturing, high-technology, or technology-based
businesses which have more than 75% of customers outside Deschutes County. What
percentage of your customer base exists outside Deschutes County?
95% of our customers reside outside of Oregon
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DESCHUTES COUNTY/ CITY OF BEND
Business Development Forgivable Loan Fund
- APPLICATION -
The Deschutes County Business Development Forgivable Loan Fund and City of Bend Business
Development Forgivable Loan Fund provides moneys for the purpose of increasing employment
and capital investment in the county. The Fund has been established to offset the costs of business
relocation/expansion to and within the City of Bend, including moving of equipment, purchase or
construction of facilities, employee training, equipment purchase and site improvements such as the
extension of public services and utilities. EDCO has been designated by the City of Bend as the
administrator of this fund. The magnitude of funding is dependent on job creation (typically $1000-
$2000 per job).
This application is reviewed by a subcommittee of the Bend Economic Development Advisory
Board (BEDAB) for a recommendation to the Bend City Council which then gives final approval.
Access to financials (visual review on company premises only) and a banking representative interview
may be requested by the BEDAB subcommittee.
Key Requirements Are:
• Grantees must create at least 5 new primary, permanent family wage jobs and shall have
retained those jobs for at least one year.
• Optional: Grantees must document the investment of at least $5 of new, taxable
investments for each $1 allocated from the Business Opportunity Loan Fund.
Number of Employees: 15
Company Request: $12,000
EDCO Recommendation: $12,000 (6 jobs at $2,000 per job)
Proposed Job Creation by end of Q4 2013: 6 new employees
Average Pay for New Employees (all positions, excluding commissions): $40,000
Capital Investment: $1,710,000
Industry: Manufacturer of energy usage meters
Section I — General Information
Company Name: DENT Instruments, Inc.
Location (City/County): Bend/Deschutes
Business Type: Manufacturer
Industry Type: Energy Usage Metering
No. of Employees: 15
HQ Address: 64 NW Franklin Avenue, Bend, OR 97701
State & Federal Taxpayer ID: OR: 696478-8/EIN: 93-1118853
Company Contact: Christopher Dent
Title: President
Phone: (541) 388-4774
Email: cdent@dentinstruments.com
Parent Company: N/A
Website: www.dentinstruments.com
Section II — Company Profile
1. Please provide a brief overview of your business.
DENT Instruments designs and manufactures data loggers and energy metering devices for
energy research, efficiency & conservation, new technology research, and today's energy
professionals. Our products are often the first step in developing strong energy strategies,
for maintaining peak operations, and for lowering operating costs.
DENT sells products world-wide both factory direct and through a network of domestic
and international distributors. DENT products can be found in all 50 States, on all 7
Continents, and in more than 50 countries.
Section III — Project Activities
1. Please outline the proposed activities for these funds. How will access to the Bend
Opportunity Fund support your strategic objectives, while increasing your employment and
investment in the Central Oregon region?
Riding the world-wide wave of interest in energy consumption, green power, carbon
emissions, and global warming, DENT Instruments is experiencing rapid growth within its
field of metering and monitoring for energy efficiency. Hiring at DENT has been slowed by
the lack of physical space to place new employees and a corresponding lack of equipment
for the new hires. For the first issue DENT is currently in escrow to purchase a new
building four times larger than what we currently occupy.
With the expansion in floor area will come a need for additional support for new staff as
they are added. Our first new hire is a test engineer who will provide an interface between
engineering and production. Bend Business Opportunity funds are needed to provide
support equipment including desks, computers, and test equipment (digital voltmeters,
power supplies, hand tools) that will be required by the new staff.
Section W — Grant Terms and Conditions
1. Total Employment
Grantees must create at least 5 new primary, family wage jobs (at $35,090 per year) and shall
have retained those jobs for at least one year. Please provide a quarterly projection of
expected job creation, including titles and/or descriptions. Also indicate expected wages.
We estimate hiring 6 new employees between now and Q2 2011. Department positions are
expected to be:
Office Support —1
Engineering Technical/Professional — 2
Manufacturing — 3
2. Optional: Capital Investment
Grantees can document the investment of taxable investments to demonstrate expansion
and growth commitment. Please provide a quarterly capital investment projection.
Investments will include:
New building purchase
Leasehold improvements
Moving expenses
3. Primary Employer Test
Grantees must be private firms in manufacturing, high-technology, or technology-based
businesses which have more than 75% of customers outside Deschutes County. What
percentage of your customer base exists outside Deschutes County?
DENT Instruments sells globally with more than 99% of all sales based outside Deschutes
county.