Tricycle Has New Markets Tax Credit Financing With SunTrust

Thursday, February 22, 2007

Tricycle, Inc. announced Thursday that it has completed a $550,000 term loan with SunTrust Community Development Enterprises, LLC., a division of SunTrust Bank. Proceeds from the new loan were used to repay previously existing high interest rate bank debt in the United States and United Kingdom allowing them to more quickly expand into a new line of business, as well as for general corporate purposes.

The new loan was made under the New Markets Tax Credit Program of the United States Treasury, administered by the Community Development Financial Institutions Fund. The program seeks to promote economic development or redevelopment in low-income communities by lending to qualifying businesses located in those areas, with the goal of generating positive community impact.

The Tricycle loan is the first in the state of Tennessee made by SunTrust under the New Markets Tax Credit Program.

"With the new loan, we were able to better position Tricycle for our recent - and more importantly - our future growth," said Tricycle Chief Financial Officer Steve Powell. "The ability to partner with a powerful national institution such as SunTrust is extremely beneficial for us. It is also important for us that both Tricycle and SunTrust have the interests of local community growth and development in mind."

"This transaction with Tricycle - an emerging growth company with operations in a low-moderate income area of our community - exemplifies our mission at SunTrust, which is to help people and institutions prosper," said Michael Butler, president and CEO of SunTrust Bank, Chattanooga. "We're pleased to provide this innovative loan product to Tricycle which we hope will help spur the economic growth of not only the company, but the surrounding community as well."


TriAlta Advisors Merges With Tandem Financial Partners

TriAlta Advisors, an Ameriprise practice, is merging with Tandem Financial Partners.   Corey Anderson, who will be an investment manager, and his wife, Tricia, an administrative assistant, bring experience in investment management as well as advanced estate planning skills.   Samuel Montgomery is also joining TriAlta Advisors. Mr. Montgomery is a graduate of Liberty ... (click for more)

Primerica Has Open House For New Location May 19

Primerica, Inc. will celebrate its new location with an open house and Chamber of Commerce ribbon cutting on Thursday, May 19, from 4-7 p.m.  The ribbon cutting will be at 4:30 p.m.   Dewayne Crawford, a national sales director, and David Walters, a regional vice president with Primerica, Inc., have expanded their office and moved to 6025 Lee Hwy., Suite 326.  Mr. ... (click for more)

1 Person Shot On Wilson Street On Wednesday Night

One person was shot on Wilson Street on Wednesday night. The incident was near Orchard Knob Avenue. A section of Roanoke Street near the shooting scene was blocked off, with multiple police units at the location. (click for more)

Woman Tells Of Having Shots Fired At Her When She Walked Into Disorder At South Germantown Road Apartment Complex

Officer Joel Gunn of the Chattanooga Police Department and a woman who was fired at after she walked into the scene of a shooting testified in court Wednesday concerning the shooting at the Chateau Royale Apartments on South Germantown Road on April 22. Coy Sims, 48, was arrested by Officer Gunn after police were called by residents of the apartment complex. On the night of the ... (click for more)

Thankful For The Vital Role Teachers Played In My Life

Re: Roy Exum: Teachers Day Tomorrow Roy, I am especially appreciative of your poignant column written in tribute to teachers.  It made me tear up, as I have encountered both as a student and a career educator-- teachers like the second-grade teacher who said, "I wish you were my little girl" and teachers like Mrs. Poindexter.   My teachers have played such a vital ... (click for more)

Roy Exum: The DA’s Cold-Case Quest

It is clearly a job nobody can do for over an hour or two, but Neal Pinkston, working in hand with precise professionals from the county’s auditing department, is intent on doing the right thing. As I watched a revolving team of four people at a time open and study envelopes of autopsy photographs on Tuesday, the scene would have made a fascinating television documentary. But ... (click for more)