Trenton, NJ — When CAD Signs outgrew its leased facility in 2010, the New Jersey Economic Development Authority’s (EDAs) Small Business Fund helped the company acquire an expanded space in Hackensack. As a result, the commercial sign installation, maintenance and fabrication company has quadrupled its workforce and increased its customer base.
The EDA toured CAD Signs today to highlight the company’s growth and showcase the array of State resources available to help small businesses expand in New Jersey.
Established in 2005, CAD Signs offers a complete suite of assistance – from surveying and permit approvals to manufacturing and installation of signs – for companies of all sizes. The company also maintains signs following installation, including fixing lighting outages, LED retrofitting, and sign cleanup. While the company has a national reach, it has benefited from the abundance of corporations that call New Jersey home. In the Garden State, CAD Sign’s work can be seen at the GAF World Headquarters in Parsippany and Honeywell’s new campus in Morris Plains.
CAD Signs Founder and Chief Executive Officer Alex Galeano noted that his employee-oriented company routinely receives positive feedback from its clients.
“We service national sign companies, local developers, architects and marketing agencies that are looking for an experienced, established and reliable partner to execute their most important local and regional projects,” Galeano said. “The additional space and resources we have acquired with EDA’s support have helped us to grow our workforce and customer base and continue to provide the top-notch quality service our clients have come to expect.”
To accommodate its exceptional growth, CAD Signs purchased an additional facility adjacent to its current location in February of this year.
Through the EDA’s Small Business Fund, the company received a $696,000 PNC Bank loan backed by a 50 percent EDA guarantee. The Small Business Fund offers assistance to qualified businesses and not-for-profit organizations through direct loans, participations or guarantees, with a fixed interest rate and an expedited approval process. To be eligible, businesses must be in operation for at least one full year and not-for-profit corporations must be operating for at least three full years.
“Funding from the Small Business Fund helped CAD Signs not only expand its space, but also more than quadruple its workforce from eight to 40 over the last few years,” EDA CEO Melissa Orsen said. “We encourage all businesses to explore resources available through the State to help them grow.”
Today’s visit continues the EDA’s enhanced efforts to facilitate awareness of the programs it offers to support small and mid-sized businesses and not-for-profits, including a print and digital marketing campaign and social media channels. Centered on the theme “EDA Was Here,” the campaign and new social media presence highlight how organizations like CAD Signs have used the EDA’s financing programs to overcome challenges, meet their needs and grow. Through its small business lending programs, the EDA provided 55 companies with more than $32 million in assistance in 2015.
To learn about EDA resources for small businesses and not-for-profits, visit http://www.njeda.com/small_midsize_business and follow @NJEDAWasHere on Twitter and LinkedIn.
The EDA is part of the state’s results-driven Partnership for Action. Created by Governor Christie and led by Lt. Governor Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA.
To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov or call the Business Action Center at (866) 534-7789.