NJEDA Support Enables Café/Restaurant Tavolo Pronto to Establish Permanent Location in Fair Haven
From left: NJEDA’s Director of Business Development – South Region, NJEDA Managing Director of Business Development Paul Ceppi, 1st Constitution Bank Vice President Jessica Dudick, Tavolo Pronto owners Patti and Arturo Balderas, Senior Business Development Officer Kathleen Durand
TRENTON, N.J. (May 13, 2019) – Representatives from the New Jersey Economic Development Authority (NJEDA) and 1st Constitution Bank today visited Tavolo Pronto, a family-owned and operated eatery in Monmouth County, to highlight financing that has enabled the business to flourish in downtown Fair Haven.
In June 2018, Tavolo Pronto owners Arturo and Patti Balderas closed on a $150,000 direct loan from the NJEDA and a $420,000 loan from 1st Constitution Bank, which enabled the husband-and-wife duo to purchase the 2,300 -square-foot facility in Fair Haven that Tavolo Pronto had been leasing for the past seven years. Tavolo Pronto currently employs 22 people and expects to hire four more within the next two years.
“Personalized service is what sets small businesses like ours apart,” Patti Balderas said. “The support we received from the NJEDA and 1st Constitution Bank enabled us to stop paying rent and start building equity, while continuing to provide the one-on-one attention to our customers that they deserve.”
Tavolo Pronto, which has served customers for over a decade, prides itself on its full-service Italian bistro, bakery, and market, which serve specials daily. It also sells made-to-order take-home meals and allows parents of the town’s elementary and middle schools to order lunches for delivery to their children at school. In addition, Tavolo Pronto offers internships to eighth-grade students who are interested in every aspect of the business, from making pizza to waiting tables to learning back-end business operations.
The visit comes on the inaugural New Jersey Economic Development Day – which was passed through joint resolution by the New Jersey Legislature to promote economic growth. To celebrate New Jersey Economic Development Day and Tavolo Pronto’s success, and raise awareness for small business financing programs, NJEDA Managing Director of Business Development Paul Ceppi, Senior Business Development Officer Kathleen Durand, and 1st Constitution Bank Vice President Jessica Dudick visited the restaurant.
“We’re pleased to celebrate the first New Jersey Economic Development Day by visiting Tavolo Pronto,” Ceppi said. “Hearing from entrepreneurs like Arturo and Patricia who work tirelessly to serve a loyal customer base and impact the local community reinforces the importance of supporting small businesses – a key component of Governor Murphy’s vision for a stronger and fairer New Jersey economy.”
“1st Constitution Bank is proud to work hand-in-hand with the NJEDA to turn Arturo’s and Patricia’s dream of owning their own building into a reality,” Dudick said.
The NJEDA provides low-interest direct loans to eligible businesses for up to $2 million for fixed assets and up to $750,000 for working capital. Small business owners are encouraged to visit https://www.njeda.com/small_midsize_business to see which NJEDA resources fit their businesses’ needs.
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
To learn more about NJEDA resources, call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.