Washington - Today, U.S. Senator Robert Menendez announced that the U.S. Small Business Administration has given final approval to $26,588,500 federal loan applications for New Jersey businesses. The approvals come a week after President Obama signed the Small Business Jobs Act of 2010, which enhanced SBA's two largest loan programs by extending increased guarantees and reducing SBA fees. These federal loans will help jump-start local businesses, allowing them to expand and hire workers.
"Small businesses are the main job creation engine in our country, which is why we created this new program to help make available the loans they've been starving for during these tough times," said Menendez. "These federal loans and the private loans that will accompany them will help to stabilize New Jersey small businesses, allow them to expand and allow them to retain and hire workers. These loans are critical to our economic recovery, because small businesses are critical to our economic recovery."
The $26,588,500 in federal SBA loans have been approved for the following businesses:
STATE
BORROWER
CITY
CURRENT EMPLOYEES
JOBS CREATED
TOTAL APPROVED LOAN AMOUNT
NJ
$1.99 Any Garment Cleaners
Mahwah
2
0
$425,000
NJ
1813 Captain's Realty LLC (EPC
Forked River
1
40
$2,000,000
NJ
1st Light Energy Inc.
South Plainfield
35
10
$1,000,000
NJ
A & P Pork Store LLC
Eatontown
12
0
$600,000
NJ
Akshay Enterprises Inc.
Asbury Park
2
0
$375,000
NJ
Alpa Shah
North Brunswick
0
10
$212,500
NJ
Amaral Auto Sales
Lyndhurst
6
4
$1,620,000
NJ
ANB Management LLC (EPC) and S
Tenafly
2
0
$1,028,000
NJ
Ariana Alaj
Warren
12
4
$1,000,000
NJ
ARS TECHNOLOGIES INC.
New Brunswick
16
0
$400,000
NJ
Babb & Smith dba Dunkin Donuts
Long Valley
0
0
$730,000
NJ
BLEEDING DISORDERS RESOURCE NE
Riverdale
14
0
$300,000
NJ
Chatter Box Communications
Riverton
1
0
$225,000
NJ
Dunkin Donuts and Baskin Robbi
Paramus
2
15
$1,530,000
NJ
Elizabeth Ramirez MD LLC
Jersey City
1
3
$176,000
NJ
Entity (EPC) and Send 'em Pack
Bayville
0
0
$550,000
NJ
Entity to be Formed
Clementon
2
2
$800,000
NJ
Entity to be Formed
Mays Landing
5
8
$900,000
NJ
EXIGENT TECHNOLOGIES, LLC
Mount Arlington
30
0
$350,000
NJ
Fuddruckers
Parsippany
35
30
$529,000
NJ
Genesis Associates Inc.
Midland Park
4
0
$50,000
NJ
Horizon Marine Group
Toms River
1
3
$698,000
NJ
JEDH LLC
Hazlet
22
0
$377,000
NJ
JEMC Corp.
Manasquan
8
4
$500,000
NJ
John J. Royce, Jr.
Cedar Grove
2
6
$900,000
NJ
Mark Conca
Nutley
4
4
$500,000
NJ
MARY'S LITTLE LAMBS, LLC
Millville
1
5
$20,000
NJ
Max Alan Beauty L.L.C.
Bridgewater
1
7
$229,000
NJ
MELILLO ARCHITECTURE ASSOCIATE
Spring Lake Heights
5
0
$50,000
NJ
MOORE CONSULTING ENGINEERS, LL
Tabernacle
6
0
$150,000
NJ
NJ Spice Merchants LLC
Union
2
2
$150,000
NJ
Precise Continental
Carlstadt
40
15
$1,332,000
NJ
Richard & Terry Anderson (EPC)
Lambertville
2
0
$1,500,000
NJ
Shamy Smoothies, LLC DBA Smoot
Flemington
13
13
$150,000
NJ
Somerset Rehabilitation Service
Raritan
7
4
$400,000
NJ
Venice Bakery
Garfield
25
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March 12, 2024