Maureen Tinen, President

 >2% Loans for Storm-Affected Businesses

 >Fanwood Entrepreneur Wins Quick Pitch Competition

 >Free Advice Worth Considering

 >Government Contracting Events 

 >Business Insurance Myths  

2% Loans for Storm-Affected Businesses Still Available

Small businesses that are still feeling the pinch from Super Storm Sandy can get the working capital they need thanks to UCEDC's Storm Recovery Loan Program.  With support from a generous grant from Investors Bank, we're able to offer loans of up to $25,000 at just 2% for five years, with no collateral requirements.

Whether they suffered physical damage from flooding and wind and/or economic damage from business interruption, small business owners can use these funds to fill in insurance gaps, order new inventory, pay bills and otherwise get back on track.  The loans feature a fast turn-around (two weeks or less after receiving a complete application), no application or processing fees, and no pre-payment penalties.  Applicants must be in business for at least two years and be profitable prior to the storm.

Help for the Unexpected  

Small businesses from Cape May to Bergen County have taken advantage of this unprecedented low interest rate program.   Dr. David Frantz, owner of the Fanwood Animal Hospital, was an early borrower.

Dr. David Frantz

While the Hospital escaped with little physical damage, it lost all of its perishable drugs and supplies and a week's worth of revenue thanks to the power outage.  Nonetheless,  Dr. Frantz decided to pay his eight staff members and associate veterinarian.  "My employees depend on their weekly paycheck - I knew I couldn't let them down.  But things were getting a little tight.  The storm recovery loan was fast and inexpensive and gave me some much-needed breathing room to get my practice back on track."

Unexpected shortfalls from insurance settlements have left many small business owners in a bind.  Mary Baker, owner of Baker Tax and Accounting in Linden, was caught short on funds and looked to UCEDC for help.

Ms. Baker lost her external signage from the wind and her computer system and server from the power outage.  With tax season rapidly approaching, she had to get her business up and running as quickly as possible.  She also had two employees, both single mothers, who depended on their weekly paychecks.

"I discovered that my insurance was going to cover just a fraction of the replacement costs.  And I had to make my payroll.  The storm recovery loan allowed me to move quickly to restore our operations and helped cover the loss of revenue we suffered.  The low interest rate was so incredibly helpful."

Apply Now

If your business suffered any physical or economic damages (such as business interruption) due to Super Storm Sandy and you need quick, inexpensive access to working capital, consider our 2% Storm Recovery Loan Program.  Complete information can be found here or call 908-527-1166 to speak to one of our loan officers.  This is a limited time only offer - don't delay. 

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Fanwood Entrepreneur Wins UCEDC/Capital One Quick Pitch Business Competition

While UCEDC has been offering entrepreneurial training for years, 2012 marked the first time its graduates were given the opportunity to win a cash award while showing off what they learned.  Thanks to Capital One Bank, we launched the Annual Quick Pitch Business Competition in late 2012, where Joan Dickason, a certified holistic health coach and owner of Crossroads Nutrition, took first place.

The competition is a collaboration between Capital One Bank and UCEDC and is designed to give fledgling entrepreneurs a chance to hone their business ideas with the help of experts from the Bank.  First and second place winners receive cash prizes from Capital One.

Joan, a resident of Fanwood, began Crossroads Nutrition after a long, successful tenure as a Wall Street information technology executive.  Her corporate career offered her great travel and learning opportunities, but the stress and daily pressures eventually took their toll.  "I finally realized that our bodies are not meant to be flushed with stress hormones.  I began a personal journey to heal myself, which ultimately lead me to my encore career in helping others find their way to wellness," says Joan.

Joan Dickason

Crossroads Nutrition offers corporate wellness programs, group workshops, and individual counseling services covering holistic nutrition and lifestyle topics.  It also offers the Diabetes Free Zone program, a 16-week lifestyle modification program designed to help those with diabetes and pre-diabetes to reverse high-blood sugar and establish healthy lifestyle choices.

Building a Winning Idea

As a graduate of our Entrepreneurship 101 workshop, a six-week training program designed to help early-stage businesses, Joan was eligible to participate in the Quick Pitch competition.  First, a small business banking expert from Capital One worked directly with her to refine her business proposal.  The next step was making a short presentation, or "quick pitch" to a panel of judges from UCEDC and Capital One where she was assessed on the viability of her business idea, her knowledge of the marketplace, and her ability to connect with her customer. 

"Small business is the backbone of our economy - when small businesses do well, jobs are created and communities are strengthened," said Lisa Rasp-Chalkan, Executive Vice President, Loan Administration, Commercial Banking, Capital One Bank.  "At Capital One, we're committed to helping small businesses of every size grow and thrive - whether it's directly through our products and services, or through innovative programs and partners like UCEDC."

Think you have what it takes to run your own business?  Want to be part of the next Quick Pitch Business Competition?

Learn more and register today! 

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Free Advice Worth Considering

Keeping up with new developments, trends, and competitors in their field may take a small business owner's time and attention, but it doesn't have to cost a dime. There's a wealth of free information, advice, and data out there on small business blogs and in trade publications and the savvy entrepreneur will use them to full competitive advantage.

Small Business Blogs

Sure, anybody can start a blog these days and the reliability of online content should often be taken with more than a grain of salt.  But there are hundreds of first-rate small business blogs out there, some with a general business spin and others targeted to specific business tactics or types of business owners. 

How do you find the right small business blog for you?  Check out lists of the top small business blogs to find those that interest you.  For example:

• Top Small Business Blogs to Read in 2013
• 25 Upcoming Small Business Blogs to Follow

Trade Publications

There's a trade publication for practically every small business topic you can think of. (Walls and Ceilings Magazine, anyone?) And the vast majority of them are available with a free subscription because they make their money through ads  - the more subscribers they have, the more they can charge for ad space.

These publications are great for keeping up with what's new in your industry and for tracking how the bigger players market their products and services.  You can search for "Trade Publication (your industry or topic of interest)" to find free offers. Or take advantage of a website like FreeTradeMagazines.com which makes it very easy to search and subscribe from one site.

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This Caught Our Eye:  

Speaking of first-rate business blogs (see story above on Free Advice...), Small Business Trends (smallbiztrends.com) is on most top 10 lists of small business blogs for a good reason - it provides great information in an easily digested format.  Its recent post on business insurance - 10 Myths Small Business Owners Believe About Their Insurance - is no exception.   

Think you have a handle on the finer points of your business insurance coverage?   Well, how about your coverage for errors and omissions?  Will your auto insurance cover business use of your car?  And what exactly does your personal umbrella policy actually cover?

Check out this excellent article to bust your myths about business insurance.

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Government Contracting Events

Billions of dollars are going to small businesses every year from contracts with federal, state, and local government agencies.  Every successful small business contractor had to start somewhere, and for many, their first step was attending an informational session or contracting expo to learn from the experts and fellow business owners.

UCEDC's free monthly Procurement Technical Assistance Center (PTAC) events are always a great place to get started.  They offer the opportunity to meet potential buyers from a broad array of government agencies and get the inside track on successful proposal development.

Additionally, major contracting expos and conferences provide a 360-degree look at the ins and outs of government procurement.   Check out this list of upcoming events and sign-up today to get started on your government contracting journey.

Free PTAC Training Seminars

March 14, 2013

Three Part Program:  Fraud and the Military Contractor | Selling to the NCIS | The Essentials of Government Contracting
Attend this free workshop to get the insight and practical guidance you need to stay on the right side of the law while building your business and boosting your revenues with military contracting. 

REGISTER NOW

March 28, 2013

Two-Part Program:  Selling to the US Army Corps of Engineers (USACE) | The Essentials of Government Contracting 

The USACE purchases a surprisingly broad array of products and services.  Learn how you can get started selling to the USACE.

REGISTER NOW

April 18, 2013

Two-Part Program:  How to Do Business with the Port Authority of NY & NJ | The Essentials of Government Contracting

This is your opportunity to get the inside track on selling to the Port Authority.

SAVE THE DATE

Check our Free Seminars web page for more upcoming events.

Government Contracting Expos and Conferences

March 6, 2013

13th Annual Alliance Mid-Atlantic Small Business Procurement Fair 

April 5, 2013

ASDO's 18th Annual Aviation Networking Event

REGISTER NOW

April 18, 2013

NJAWBO 15th Annual Business Growth and Procurement Expo

REGISTER NOW (use discount code procurepartner2013 to get member pricing)

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New Home for UCEDC

When UCEDC moved into its newly purchased and renovated  headquarters in Cranford last July, we were doing more than just trading one location for another.  Our new home gives UCEDC a permanent presence in the small business community, with easy accessibility and ample room to service our loan, training and government contracting clients. 

"Going from leasing to owning allows us to build equity for the corporation," notes UCEDC President, Maureen Tinen.  "But more importantly, owning our own building gives us greater flexibility in meeting the needs of our clients, with the ability to adapt and grow."

Maureen Tinen and our honoree, Bob Katz

This important step in UCEDC's continuing progress was marked by a building dedication last December, when our new home was named after long-time trustee, Bob Katz.  Owner of Universal Vending Management in Westfield, Bob has served on the UCEDC board for over 25 years, chairing or serving on almost every committee.  

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