Initiative to help small businesses grow and create jobs
Burlington County Freeholder Director, Kate Gibbs, will launch county-wide initiative.
Burlington County Freeholder Director, Kate Gibbs, is set to launch a new county-wide initiative to promote a simple, but important message: Burlington County is open for business. Over the next few months, Freeholder Director Gibbs will be touring the county and visiting local main streets to speak directly with small businesses about an attractive county economic development program that’s available to help them grow and create jobs.
“As Freeholder Director, it has been a priority of mine to make Burlington County a more affordable, prosperous and welcoming place to live, work and retire for all,” said Director Gibbs. “Small businesses and the job opportunities they provide our residents are so important to families and communities all across the county. That’s why I am thrilled to launch this initiative and tell small businesses about how the county can help them expand and reach their goals.”
Beginning this Friday in Mount Holly and Lumberton, Director Gibbs will be encouraging small businesses to take advantage of the County Small Business Loan Program, which can provide established businesses, start-ups and non-profits with very low interest financing.
The county offers direct loans up to $50,000 or as much as $200,000 in gap financing with a participating bank. Funding may be used to purchase real estate, acquire furniture, fixtures or equipment, or apply towards working capital. However, in order for a company to be approved for a county small business loan, a job must be either created or retained.
To complement Director Gibbs’ tour and reach as many local companies as possible, she recently partnered with several past recipients of a county small business loan to create an informational video about the program that will be shared online and on social media. Familiar Burlington County businesses that appear in the video include: Café Madison in Riverside, Geraghty’s Pub in Burlington City, Son Light Medical in Willingboro, A&E Cage Company in Burlington Township, and Primo Hoagies in Marlton. The video can be viewed here: co.burlington.nj.us
“This innovative program has helped to create so many small business success stories all throughout the county,” added Director Gibbs. “I hope to help small businesses continue to grow and call Burlington County home.”
The county began the program with approximately $900,000 available to loan to small businesses through grants provided by the U.S. Economic Development Administration. As borrowers pay off their loans, the county is able to replenish the fund and help other small businesses expand. The program has helped to create or retain more than 195 jobs in Burlington County since its inception.
Please follow @FreeholderKateGibbs and @BurlingtonCountyNJ on Facebook for clues each week on where in the county she will be headed next.
For more information on the loan program, small businesses may contact the County Office of Economic Development and Regional Planning at (609) 265–5055.
