Hogansburg home builder receives $200,000 loan; can now sell on reservation in addition to France, Canada, NY
HOGANSBURG – Pathstone Enterprise Center recently closed a $200,000 business loan for General Fine Homes, located on the Akwesasne Territory, spanning both St. Lawrence and Franklin counties.
The New York State Department of State licenses General Fine Homes as a Home Retailer, bonded and USDA approved.George and Rowena General started their business on the Akwesasne Reservation in 1993 beginning with the sale and construction of log homes. They expanded General Fine Homes with the addition of modular homes in 2002 and manufactured homes in 2006, they opened General Real Estate, a N.Y. State licensed Real Estate Brokerage.
For over 18 years, General Fine Homes has sold homes to customers in France, Canada and throughout New York State. Unfortunately, homes within their own community have been limited due to limited residential financing available on the Reservation.
Co-Owner Rowena General stated, “There is not a level playing field for businesses located on reservations that do not have access to traditional credit markets and financing. Additionally, Native people residing on reservations do not have access to conventional loans to purchase homes. We anticipate the relationship General Fine Homes has developed with PathStone and other lenders will be mutually satisfying for all involved.”
Owner George General stated, “General Fine Homes is honored to receive approval as the first privately-owned business in Akwesasne to secure business financing from the PathStone Enterprise Center. We can now work with PathStone to complete the sale of homes to qualified customers in Akwesasne.”
PathStone Enterprise Center, headquartered in Rochester, is a Community Development Financial Institution that supports small and micro business owners and entrepreneurs through lending, training and technical assistance programs. The PathStone Enterprise Center is a leading provider of small business loans throughout upstate New York and is a SBA, and USDA lender.
Dana Brunett, President of PathStone Enterprise Center, Inc. declared “We here at PathStone are very excited to work with General Fine Homes to allow them to access more capital and bring the dream of homeownership to residents of the Akwesasne Mohawk Reservation. Creating jobs and supporting communities is our mission and we look forward to working with the Akwesasne community as they develop their small business infrastructure and create a vibrant local economy”.
George and Rowena stated, “We would like to take this opportunity to thank the PathStone Enterprise Center, Inc. and the Saint Regis Mohawk Tribal Economic Development Office for their endeavors in understanding and addressing the economic barriers faced by Akwesasne small businesses.”
Steven B. Cook, Director of the Office for Economic Development for the Saint Regis Mohawk Tribe stated, “The partnership between PathStone and our business community was the result of our collaborative efforts working with Ruby Sprowls and the PathStone Enterprise Center. Access to capital was identified as a major obstacle to development at our recent Financial Summit. We will continue to work with the banking and lending industry to improve access to capital to ensure a diversified and vibrant economy for the Akwesasne business community.
For more information about PathStone Enterprise Center’s small business support efforts please visit their website at www.pathstoneenterprise.org or call 585-340-3304 or 585-340-3387 to speak with a loan officer.