Star Supplies Maintenance Expands in New Jersey with NJEDA Support
Star Supplies Maintenance wholesales building management and cleaning supplies, such as the ones pictured above, from its newly-purchased warehouse in Passaic.
Wholesaler Expects to Nearly Double Workforce within Two Years
TRENTON, N.J. (January 18, 2019) – Cleaning and building management supplies wholesaler Star Supplies Maintenance (Star Supplies) recently expanded its footprint into New Jersey and plans to move the bulk of its operations from Brooklyn to a recently-purchased warehouse in Passaic. Company owner Jack Stern and his wife Susan Stern say they are eager to begin hiring New Jersey workers to fill jobs within the facility.
Family-owned-and-operated Star Supplies used funding from a $281,000 direct loan from the New Jersey Economic Development Authority (NJEDA) to support the purchase of the nearly 11,000-square-foot facility.
The Passaic facility, a permanent home for Star Supplies, provides more than double the space the company had been leasing in Brooklyn. The move has already enabled Star Supplies to create 10 new jobs, and the company plans to create eight more within two years. The purchase was also supported by a $1.1 million commercial mortgage loan from Columbia Bank.
Star Supplies wholesales a variety of cleaning products, such as mops, brooms, and soaps, as well as items needed for renovations, including paints, doors, gardening tools, and an array of tiles.
“We’ve always had a customer-first approach to our business, and we strive for 100 percent satisfaction,” Jack Stern said. “Thanks to support from the NJEDA and Columbia Bank, we are now able to reach a whole new market. We are also excited to be contributing to the local community by hiring area residents to fill jobs in our warehouse.”
Low-interest direct loans from the NJEDA can provide eligible businesses with up to $2 million for fixed assets and up to $750,000 for working capital. In addition, through the Premier Lender Program, the NJEDA partners with banks to offer low-interest financing through loans, loan participations and guarantees, and line of credit guarantees.
“One of the many benefits that customers experience when they come to the NJEDA is that we work closely with dozens of banks to develop a customized solution tailored to meet each business’s unique financing needs,” said Lori Matheus, NJEDA Senior Vice President, Finance & Development.
In line with Governor Murphy’s vision for a stronger and fairer New Jersey, the NJEDA has recently enhanced its focus on increasing access to growth capital for historically underrepresented businesses. In November, the NJEDA created a new small business unit that is charged with providing robust financial, workforce, and technical support to the State’s small business community, with a focus on historically underrepresented firms, including women, minority, veteran, disability, and LGBTQ-owned enterprises. That same month, the NJEDA unveiled Access, which offers small businesses more flexible access to capital by placing greater emphasis on cash-flow with less reliance on hard collateral.
@NewJerseyEDA asked Jack Stern about his company’s experience so far in New Jersey and its plans for the future:
Why did you choose to grow in New Jersey?
We see a lot of potential for growth by expanding into New Jersey, including reaching a whole new customer base. While the new location creates an opportunity for growth, its proximity to our existing location in Brooklyn will enable us to maintain our previously-established client base.
What do you consider Star Supplies’ biggest success to date?
The purchase of this new, larger warehouse is a major milestone for us, and one that positions us to more effectively meet our customers’ needs.
What’s on the horizon for Star Supplies?
We look forward to reaching higher levels in the business industry, attracting new customers and offering new inventory to customers.
To learn more about EDA resources for small businesses, call EDA Customer Care at 609-858-6767 or visit https://www.njeda.com/small_midsize_business and follow @NewJerseyEDA on Facebook, Twitter and LinkedIn.