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NJ TRANSIT TO CO-HOST FORUM ON LOANS FOR SMALL BUSINESSES

Program helps small businesses compete for contracts

July 18, 2007
Contact: Joe Dee (973) 491-7078

NEWARK, NJNJ TRANSIT and the Regional Alliance for Small Contractors are hosting a forum for small business owners who are seeking to obtain contracts or sub-contracts on NJ TRANSIT projects.

The forum will provide an opportunity for small business owners to meet with bankers who are participating in the outreach program and to learn about financing packages designed to meet their needs. Business owners also will be able to meet NJ TRANSIT Office of Business Diversity and Regional Alliance officials.

“This has been a very successful program and we want more small business owners to learn about the financing opportunities that are available through it,” said Jan Walden, NJ TRANSIT Assistant Executive Director for Diversity Programs.

“This program has done an outstanding job in promoting small business participation,” said Earl Walker, Executive Director of the Regional Alliance. “Since its inception, small businesses have received about $25 million in loans ranging from $50,000 to $3 million.”

The event is scheduled for 9 a.m. on Tuesday, July 24, 2007 at the Washington Square Conference Center on the 17th floor of the IDT Building, 520 Broad Street in Newark.

Representatives from Banco Popular, City National Bank, First BankAmericano, PNC Bank, Provident Bank and the Greater Newark Business Consortium are expected to attend.

“We look forward to meeting small business owners and helping them network with bankers and loan-packaging consultants who are ready, willing, and able to assist them with their financing needs,” said Ernest Williams, NJ TRANSIT’s Director of Certification and Outreach in the Office of Business Diversity.

For additional information, interested small business owners can call Ernest Williams at (973) 491-8060 or Paola Camargo of the Regional Alliance at 212-268-4933.

NJ TRANSIT is the nation's largest statewide public transportation system providing nearly 857,000 weekday trips on 240 bus routes, three light rail lines and 11 commuter rail lines. It is the third largest transit system in the country with 162 rail stations, 60 light rail stations and more than 18,000 bus stops linking major points in New Jersey, New York and Philadelphia.