Nirvana Water receives a $3.2 million dollar loan to expand business


BOONVILLE, N.Y. (WKTV) - New York States Comptroller, or
state money manager, Thomas DiNapoli along with other elected officials visited Nirvana water company to celebrate a $3.2 million dollar loan the business received to continue the creation of their fourth machinery bottle line.

The press-conference and celebration was after three years of uncertainty for the water company which gets all of its product from the Nirvana Springs located on 2,000 acres of wilderness near the Adirondack Mountains.

In 2011, while the economy continued fluctuating, Nirvana felt the effects on their business.

Darya Rafizadeh, the Vice President of Sales and Marketing for the company said, "Two years ago we were promised funds to help us put in a new line, we went ahead and put down a deposit of 1 million dollars on machinery and we were told by the bank later on that money wasn't coming."

When they lost a bank loan to create their fourth water bottling line, the company turned to the New York Business Development Corporation (NYBDC) and the state for help.

Thomas DiNapoli, the states Comptroller said, "They recently received the finances from NYPDC thats the 1,000th loan from the program. You had not only NYBDC, but small business administration and Senator Chuck Schumer on federal it was really the combination of moneys made up for the banking that wasn't available."

DiNapoli also said he hopes to help other businesses, " In New York our greatest recourse is our people. We should look for more opportunities to connect with entrepreneurs, people who are thinking smart business plans or have a dream. All they need is a little more capital and financing and we hope to be part of the equation for more of these businesses to take hold and grow."

The loan came from the state pension money which they said will be paid back within the next three to four years, but for now because of the completion of this fourth bottling line 50 more jobs will be created once the line starts running this week.

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