Issue: 1
June 2016

EDA NJ Small Business Support By The Numbers


  *Numbers based on activity in calendar year 2015.  




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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.



As the New Jersey Economic Development Authority (EDA) continues its efforts to raise awareness of State resources available to small businesses and not-for- profit entities, organizations across New Jersey are realizing the benefits of EDA programs. Espinosa Beef and Provisions Inc. in Hudson County, C&A Marketing in Middlesex County, and Millville Rescue Squad in Cumberland County are all investing and expanding in New Jersey with support from these programs.

"It's encouraging to see such a diverse group of businesses recognizing benefits of financing options offered by the State," said EDA Chief Executive Officer Melissa Orsen. "Small businesses and not-for-profits create jobs and provide valuable resources to our residents and communities."




The New Jersey Economic Development Authority (EDA) and TD Bank recently announced the first closed loan under the New Jersey Advantage Program, a joint initiative aimed at increasing access to capital for small businesses in the State. The partnership highlights the EDA's continuous efforts to drive awareness among New Jersey small business owners of the various financing resources available to support their growth.

To mark the loan closing, EDA Chief Executive Officer Melissa Orsen and TD Bank Market President Nick Miceli visited the loan recipient, Carteret-based Aldo Design Group, this afternoon. Founded in 1972, family-owned Aldo Design is a leading flooring and interior products resource for retail and commercial customers and homebuilders of all sizes. The company recently benefited under the New Jersey Advantage Program, receiving both a line of credit for working capital, and a loan to refinance an existing mortgage.




Flow-Turn Inc., a Union Township-based global manufacturer of powered belted curve conveyors, was highlighted at a recent New Jersey Economic Development Authority (EDA) Board meeting for the approval of a loan the company received through the Premier Lender Program.

The $1.5 million Fulton Bank loan, which includes a $400,000 EDA participation, will allow Flow-Turn to refinance the mortgage on its 35,000-square- foot warehouse and office facility. The EDA partners with more than 30 Premier Lender banks to provide small businesses with low cost financing that includes loan participation and/or guarantees, and faster turnaround than traditional financing programs. Businesses can use Premier Lender financing for fixed assets, working capital to meet operating needs, or the refinancing of bank debt.



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