Issue: 2
Sep 2016

EDA NJ Small Business Support By The Numbers


  *Numbers based on activity 1/1/2016 – 8/30/2016  




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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.



Founded in a New Jersey basement 17 years ago, family-owned and operated Adagio Teas has continued to expand, increasing its footprint into a 40,000-square-foot commercial facility and growing its workforce from a staff of three to 50. When the company wanted to upgrade its manufacturing capabilities and create operational efficiencies, it turned to the Small Business Fund, a program of the New Jersey Economic Development Authority (EDA) that offers qualified businesses direct loans or participations and guarantees of commercial bank loans.




Continuing efforts to raise awareness of financing resources available for small businesses and not-for-profit organizations in the Garden State, New Jersey Economic Development Authority (EDA) President and Chief Operating Officer Tim Lizura visited Aurora Multimedia Corporation (Aurora) in Marlboro. The business received a loan through the EDA's Small Business Fund, which provides financial assistance to qualified businesses through direct loans, participations or guarantees.




As part of the Economic Development Authority's (EDA) efforts to raise awareness of financing resources available for small businesses and not-for-profit organizations, Chief Executive Officer (CEO) Melissa Orsen visited Riding High Farm in Allentown. Riding High recently worked with the EDA to refinance its mortgage, demonstrating the EDA's ability to help organizations in all industries and stages of growth meet their unique financing needs.




Upcoming training programs offered in several areas of the State by not-for-profit economic development corporation UCEDC are designed to help develop financial and business literacy for business owners at all stages of maturation. In partnership with the New Jersey Economic Development Authority (EDA), the comprehensive, six-week "Entrepreneurship 101" program walks entrepreneurs through all aspects of starting a business, culminating in the development of a business plan.




Small and medium sized businesses might think that sustainability is only achievable by large companies who have the capacity and resources to develop comprehensive plans and hire dedicated sustainability staff. However, this is a misperception; the most successful sustainability strategies often start with simple, low cost initiatives that even the smallest business can accomplish. There are real opportunities for small businesses to yield significant benefits from the adoption of basic environmental best practices.



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