Balsams Bailout Bunked.

 The Business Finance Authority is considering a $28 million dollar state backed loan guarantee for the Balsams resort up in Dixville Notch. I hope that it is rejected.
 
I've been following the BFA state loan guarantee program since 1994. It's a good program that in most cases the loan size is less than $11 million dollars which is secured with live collateral such as real estate, equipment, inventory, accounts receivable and signed contracts.  
No Balsam's Bailout.

  This Balsam's Bailout has none of this. Instead, it's a much greater, lofty idea based on reaching speculation and possibly gambling. Speculation that if it fails, causes substantial long-term liability and damage to the state treasury. This unprecedented state financed bailout also involves the use of the EB-5 program which is the exchange of visas for hard currency from places like China, Thailand and Malaysia. Our neighbors in Vermont recently had an experience with this same EB-5 program that was wrapped around real estate speculation. Their now digging out from under an avalanche of deception and financial default.  

Through it's history in New Hampshire, the BFA state loan guarantee program has advanced millions of dollars in the guarantee of local economic development, taxbase and the creation of good jobs statewide. It's been done incrementally and conservatively which is the character of the state. This Balsam's Bailout isn't New Hampshire it's nothing more than bunk.  
 

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