Carteret, NJ – On Wednesday December 7th, Mayor Daniel J. Reiman joined with the Carteret Office of Economic Development, the Carteret Redevelopment Agency, and representatives from the New Jersey Economic Development Authority (EDA), to host a small business forum at the Robert Wood Johnson Fitness and Wellness Center at Carteret.
Programs being made available through the Borough’s Office of Economic Development include:
· Direct loans/Loan participations up to 25% of the total financing (not to exceed $1 million for fixed assets and $750,000 for working capital).
· Loan guarantees up to 50% of a bank loan (not to exceed $2 million for fixed assets and $1.5 million for working capital).
· Line of credit guarantees up to 50% of the line of credit amount (not to exceed $250,000).
“Programs such as these represent the forward-thinking that has restored our commercial backbone,” Mayor Reiman said, “contributing to many of our small business and new business startup programs, raising the bar on local quality of life standards. The funding allocated will very tangibly improve our commercial corridors while fostering continued economic growth in Carteret.”
“The Carteret Office of Economic Development manages our local Small Business Programs, which work hand in hand with NJEDA and UCEDC to provide options for innovative business financing and incentives for existing and new businesses,” Carteret Office of Economic Development Director Kathaleen Shaw added. “The Business Forum held in Carteret today brings financial resource options and State incentive information to our business innovators – this ultimately creates jobs and provides the community with a dynamic business base, one of the primary goals for the Carteret Business Partnership.”
For more information, contact the Carteret Office of Economic Development at (732) 541-3835.