12A — January 27 - February 9, 2017 — Economic Development — M id A tlantic
Real Estate Journal
www.marejournal.com
E conomic D evelopment By David A. Berger, Carl Berger Associates Accessing economic development programs
A
t a time in history when turbulent eco- nomic conditions are
businesses, but also can cause great confusion for companies attempting to navigate their way through those murky waters unassisted. Thus, the services of New Jersey’s Carl Berger Associates (CBA) have never been in greater demand than they are today. With 33 years of experience in the world of commercial financing in the Greater New York Met- ropolitan area, and a unique expertise in government loan programs, CBA has helped dozens of major businesses in the Tri-State area get the financial relief they need in recent years.
CBA specializes in complex commercial financing issues. In particular, CBA’s expertise extends to things like tax-ex- empt bond financing, Federal economic stimulus programs, working capital and term loans, EDA Direct government loans, SBA loans (504 + 7 pro- grams), Federal New Market tax credits, solar and energy clean air grant programs, ac- counts receivable financing, equipment leasing, workout and bank forbearance agree- ments, and corporate debt restructuring, among other programs widely available to help businesses large and
small, but little understood without great experience and training. A leading in plastics manu- facturer in Long Island City, NY typifies the type of Tri- State area businesses who are turning to CBA to walk them through available commercial financing options and into the right package to fit their needs. The plastics manu- facturer’s needs grew out of substantial growth in recent years—growth that posed an ironic challenge for the com- pany. CBA helped The Plastics manufacturer to help find solutions that far exceeded
anything they had previously envisioned. The Plastics Manufacturer started in 1946 in the Long Is- land City, and over the years, evolved into a leading plastics distributors and component manufacturer. That success, however, eventually led the company and its 55 employ- ees to outgrow their existing facilities. They had a lot riding on making the right move. A gigantic, strategic choice had to be made, and the company had to get it right the first time. Buy? Lease? Stay in Long Island City? Pursue more space in their existing building? Move to a different locale? How to find financing? What kind of financing? What the company’s owner- ship quickly realized is that CBA’s expertise was their best avenue to getting the answers they needed to these ques- tions, and guidance through the process. CBA helped The Plastics Manufacturer to determine that by moving to New Jersey, the company could qualify for financing within the New Jersey Economic Development Authority (NJEDA) Programs. CBA then helped the company navigate its way through the NJEDA process and, eventu- ally, into a tax-exempt bond in the amount of $3.25 million & a direct fixed asset loan in the amount of $1,250,000. The result? The company was able to make a sound fi- nancial decision and purchase and move into its current manufacturing facility and headquarters—a modern, 71,500 s/f building in Teter- boro, NJ. The CBA plan made it far more cost-effective in the long term for the company to purchase the Teterboro build- ing than trying to lease more space in Long Island City, NY. David Berger, of Carl Berger Associates, explains the pack- age his company put together for the company was right for the unique set of conditions that particular company faced. But each situation is radi- cally different, of course, and so CBA offers, at no cost to prospective clients, to consult on finding programs that can qualify other businesses for long-term, low-interest financ- ing, sometimes as low as 3%. The Plastic Manufacturer’s experience is hardly unusual for CBA clients. In recent continued on next page
playing hav- oc with the real estate and banking industries, it is more im- portant than ever for busi- nesses to find expert guid-
David A. Berger
ance as they hunt for financ- ing assistance. In particular, the complex world of govern- ment sponsored economic loan programs can present great opportunities for such
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