Mountain Valley Manor
In 2006, Mountain Valley Manor, an adult care facility, needed to expand. The company wanted to purchase a parcel of land to build an additional adult care facility in Kingston, NY. To complete the project, the company needed assistance finding funding and reviewing its business plan.
Mountain Valley Manor received more than 200 hours of counseling from the New York Business Development Center before opening the new facility. The company was able to obtain an SBA guaranteed 504 loan for $1.2 million to purchase the needed land.
In November 2007, Mountain Valley Manor required an additional $275,000 to cover cost overruns, and was able to again obtain a SBA guaranteed loan.
Mountain Valley Manor opened its doors in November of 2007 and is currently operating a successful adult care facility with 126 employees. Mountain Valley Manor received the 2008 Building Project of the Year from the Ulster County Chamber of Commerce.