There is a quiet and gentle giant thoughtfully working on behalf of SOREDI – but for the benefit of Southern Oregon businesses – hanging out most days in our northeast corner office with a clear view of the park. His name is Yogi. He responds heartily to lunch opportunities and loves a good doughnut.
With well over 30 years of commercial lending experience, Yogi has seen just about every kind of idea for a business venture presented – from notes on the proverbial cocktail napkin to multi-page, full color business plans.
While we may whimsically call him Yogi (his self-proclaimed cartoon character from our 2017 staff retreat), Noland Alston – SOREDI’s Business Development Loan Manager – is not wandering through the park seeking to “yogi” a pic-a-nic basket. You can read Noland’s bio here.
Instead, Yogi is diligently combing through financials with his trusty calculator in hand, considering the viability of every prospective loan deal and preparing the appropriate documents for the SOREDI Loan Committee’s review and hopeful approval.
When the deal flow is slow, Yogi is conscientiously updating loan application templates, carefully managing the loan portfolio, keeping records orderly, and assisting the SOREDI team with other functions. He is an invaluable asset to the SOREDI Business Development Team.
Noland’s hard work and determination resulted in a significant SOREDI milestone last month for the loan program and the local economy when he assisted several loan clients allowing us to surpass the mark of $20 million lent.
Since its inception in 1994, SOREDI’s loan program has now generated 243 loans, impacted nearly 2,250 jobs and leveraged many more millions in capital investment.
With recent loans in the last several months made to three distinctly different business ventures: Vintner’s Kitchen in Talent (a commercial kitchen); Community Life LLC in Medford (adult foster care; and Rogue Winery in Medford (a custom crush operation), SOREDI readily hit the milestone with $20,465,562 lent to date. You can read the full press release.
Perhaps one of the agency’s most rewarding loan program testimonials deserves a repeat shout out – just in case you missed this year’s annual meeting highlights. It came from Carl Cicero, owner of the Midway Country Store in Butte Falls, via an unexpected phone call to Noland.
Carl reported that he had just been to the bank that day to make his last loan payment. Granted, his loan to SOREDI had been paid off many years prior, due to refinancing through a traditional bank; in fact, it was written by a different loan manager nearly 20 years before. But that did not keep Carl from calling us to say “Thank you SOREDI for your support through the loan program … I would not have been able to have my business without your help. I just paid off my bank loan and am remembering SOREDI today. I had to call and say thanks!”
$20 million is a significant milestone and a big number! But rest assured that thanks to diligent management of the loan portfolio, SOREDI still has nearly $2 million to lend – whether it’s for a building purchase, business acquisition, equipment, working capital, or tenant improvements.
Call Noland to learn more about fixed rate, fixed term gap financing options – (541) 773-8946.
With Noland’s 4-year work anniversary with SOREDI in just a few weeks, it’s timely to say on behalf of the SOREDI staff and the SOREDI Board of Directors “thank you Yogi for your dedication to SOREDI and the Southern Oregon business community.”
This milestone warrants a serious celebration. Let’s plan a pic-a-nic!
Colleen Padilla, Executive Director
Cartoon Character: “Shaggy”