Man charged with making bomb threat to theater

March 11 Lions’ drive supporting several causes

By Christian Metzger Record-Journal staff

An 18-year-old Wallingford resident was arrested on Friday, March 3 after police linked him to a bomb threat made to a theater in North Haven. Authorities responded to a call to the Cinemark Theater, 550 Universal Drive., at around 2 p.m., after receiving a threat about multiple bombs being placed inside the building that were apparently scheduled to go off during a 9 p.m. showing of “Creed III.”

North Haven Police and the New Haven Police Hazardous Devices Unit were called to the scene and the theater was evacuated. Authorities swept the building with bomb technicians and K-9 units present.

Police managed to trace the call to Christian Cuomo, a Wallingford resident. Following an interview and subsequent evidence found that connected Cuomo to the incident, they took him into custody at the New Haven PD at around 7:30 p.m. The threat was determined to be a hoax and no bombs were found on the property.

Cuomo was charged with breach of peace and falsely reporting an incident.

Jovanna Mejia works to remedy some of these historical disparities as an Associate Lending Manager at the National Development Council, a national nonprofit that manages the fund’s operations in Connecticut. Mejia is from Cartagena, Colombia. She said that her work is important to her as a Latina. “I want to make sure that women and minorities are able to know and have access to this amazing product,” she said. “You can really make a difference with businesses and that's really our goal to reach and to provide as much as we can to these minority and women-owned businesses. ”

Loans, loans, loans

Mejia explained that traditional lending for small businesses usually depends on what collateral a business can provide. They also usually have short terms and high interest rates.

Mejia explained that the 4.5% fixed rate is a few percentage points lower than the Prime Rate, which was 7.75% at time of publication. She added that most banks would also add a few additional percentage points, based on the kind of loan. “The parameters of the [boost fund] loan are lower cash flow requirements, no collateral requirements, such that historically underserved businesses can gain access to the capital that they need,” she explained. “This is critical, as it helps tear down the historical economic barriers that allow businesses to build the capacity over time.”

Boost fund loans have a 60to 72-month payback period and can range from $5,000 to $500,000, according to the boost website. After completing an online pre-application and matching the small business with a community lender, Mejía said that the community lender will assess the business and its capacity for repayment in the long term.

See Loans, A10

Capital for Change in Wallingford

Technical assistance referrals

Lions Club

The North Haven Lions Club has served the town since 1952. Through Second Saturday activities, the Lions engage in service projects. For information about North Haven Lions' service activities, or to be part of something meaningful in town, contact North Haven Lions Club President Jim Bennett at pdgjim98@gmail.com.

The pre-application can be accessed through the boost website. It is made up of 14 questions that consider a business’ ability to repay the loan, how the loan fits into their business plan, the possible impact of the loan on the business and other financial obligations of the business.

“We want to ensure that any new debt that this business is taking on is not going to negatively impact the business,” Mejia said.

“When payments start, it also allows them to continue to positively cashflow instead of having a very high loan payment for a very high loan amount that could potentially negatively impact the business. ”

If the loan is approved with a community lender, Mejia explained that there is a fairly broad number of things it can be used for including equipment, payroll, utilities, rent, back rent, marketing, building renovations, or even to refinance a loan with a high interest rate.

While boost fund loans are available to businesses or nonprofits that have 100 or fewer full-time employees and annual revenue of less than $8 million, each community lender targets a different demographic with their specific needs.

Director of Programs and Small Business Lending Earl

Randall works with Capital for Change, a Community Development Financial Institution based in Wallingford.

He said that Capital for Change generally serves small businesses owned by Black and Indigenous people of color with less than $1 million in revenue.

“Many of those smaller businesses that maybe make ten, twenty or fifty thousand are not as adept, for lack of a better term, in securing funding,” he said. “So our approach is to be more inclusive and instructive as we navigate the process.“

Randall added that applying for loans or economic assistance can be “a bit of a hassle,” so there are also technical assistance programs available to small businesses through the fund.

Scott Arnold works with the Small Business Development Council at UConn, one of the four technical assistance providers that partner with the fund. A Wallingford resident, he said he has 25 years’ experience in banking and lending.

Technical assistance is often confused for tech support, but they are not the same. Technical assistance provides targeted support to a business with a developmental need or problem and seeks to build the capacity of a business, Arnold said.

For the fund, the council team is able to walk business owners through pre-loan, loan, and post-loan.

After matching with a local lender, sometimes a business needs help preparing a number of technical documents. The particular documents vary based on the community lenders, but Arnold cited documents like proof of revenue, a debt schedule, covered debt plan, business plan, valid operating licenses and letters of good standing with local government offices.

“We’re not here to prepare your financial statements, but we can help you in putting those together,” Arnold said.

After the loan, he added that the council can help businesses with services like marketing, market research, planning, cybersecurity, business disruption plans and more.

He also added that technical assistance programs can refer businesses to the right resource.

Nominate Your Favorite Local Businesses!

Our Annual Best of Awards reader’s poll is back. This is your chance to nominate and vote for your favorite people, places and businesses in your local area. It’s a great way to support your local businesses.

NOMINATE: Nominate your favorite businesses online March 9 through March 19.

VOTE: Online voting begins April 13 and ends Sunday, April 23.

WIN $250: If you nominate at least 25 businesses you will be entered to win a $250 gift card. A random drawing will take place at the end of the contest. We will also give away a $250 gift card for the voting round!