NJEDA
BIZ BUZZ

Issue: 7

Dec 2017

 

 

 

EDA NJ Small Business Support By The Numbers

 

 

 

 

 

 

 

*Numbers reflect activity 1/1/2017 - 11/30/2017

 

 

 

 

 

 

 

 

 

 

 

 

 

Latest News

 

 

 

 

 

 


EDA's financing for small to mid-sized businesses and manufacturers have helped businesses across New Jersey overcome challenges, meet financing gaps, and create/retain jobs in New Jersey.

Please visit
www.NJEDA.com/EDAWasHere to learn more about how EDA assisted these businesses.

 

 

 


 

 

 

On behalf of the New Jersey Economic Development Authority (EDA), we would like to wish you and your families a joyous holiday season and a prosperous 2018. 

EDA is very appreciative of the commitment shown by our state’s companies and business advocacy partners that work closely with us every day to grow New Jersey's economy. We are proud of the collective impact we have made in 2017, and look forward to continued success in 2018. 

Wishing you a New Year filled with good health, happiness, and prosperity.

New Jersey Economic Development Authority Executive Team

 

 

 

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Buon'Italia's 3,000-square-foot shop in New York City's Chelsea Market has been providing its imported Italian staples to downtown foodies since 1997, and has been wholesaling and distributing to New York restaurants for nearly four decades prior to that.

When Buon'Italia made the strategic decision to locate wholesale operations in Jersey City, they turned to the EDA's Premier Lender Program for support. A Fulton Bank loan with a nearly 26 percent EDA participation helped the company acquire its new facility.

 

 

 

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Essex County-based Consumer Product Testing Company (CPTC) has been serving a niche in the global marketplace for more than four decades. Founded in 1975 by two individuals, the family-owned and operated company has grown to a staff of 128.

Through the EDA's Premier Lender Program, CPTC purchased the 44,000-square-foot facility in Fairfield it had been leasing for 20 years. Bank of America provided a $4.1 million loan that included a 44 percent EDA participation. In addition to mortgage financing, Bank of America also provided CPTC with a line of credit to purchase equipment.

 

 

 

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UCEDC, a nonprofit economic development corporation, has announced the availability of a special discounted interest rate loan program for women-owned businesses (WOB). WOBs in business for at least two years can get financing up to $50,000 at fixed interest rates that have been reduced by two percentage points.

The program is made possible through the support of a grant from renowned fashion designer Tory Burch and the Tory Burch Foundation Capital Program, powered by Bank of America.

 

 

 

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Whether your small business is new to exporting or you're already selling goods and services to other countries, you may be eligible for a Federal award through the New Jersey State Trade Expansion Program (NJ STEP). Funded in part through a grant with the U.S. Small Business Administration (SBA) and administered by the New Jersey Business Action Center (NJ BAC), further information on the NJ STEP is included at the link below.


 

 

 

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Upcoming Events

 

 

 

 

 

Jan

16

Event:

UCEDC: Pricing Your Products & Services

Location:

75 Chestnut Street, Cranford, NJ 07016

Time:

6:00 pm

 

 

 

 

Event Calendar

 

 

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