May
2002
Trenton Business Assistance Corporation celebrates
20 years
On
April 11, the Trenton Business Assistance Corporation (TBAC) celebrated
twenty years of service to the community in a fundraising reception
held at the New Jersey State Museum.
Speakers
at the event included TBAC Executive Director Deborah Osgood,
Trenton Mayor Doug Palmer, Mercer County Executive Robert Prunetti
and regional district director of the U.S. Small Business Association,
Michael Pappas.
Formed
and funded in 1981 by former Mayor Arthur Holland and the Trenton
City Council, TBAC's mission was to provide small, "micro"
loans to business owners operating in the city who were not yet
established or profitable enough to qualify for bank loans. Yet
in many neighborhoods, it was those very businesses that provided
the goods, services and stability needed to support the residents
of the community.
Today
TBAC offers loans and mentoring to business owners in Mercer,
Burlington, Hunterdon and Warren Counties. At the twentieth anniversary
event, TBAC celebrated several milestones. It has provided more
than $5 million in loans to more than 300 businesses, resulting
in a significant ripple effect of job creation and community development.
One
of the keys to TBAC's success is its commitment to assisting start-up
entrepreneurs with pragmatic business planning that provides a
learning experience to the small-business owner. TBAC's staff
members draw from their collective experience to mentor its clients
with practical business advice and facilitate relationships that
help grow their businesses. They provide advice in areas such
as planning, bookkeeping, marketing, personnel management, cash
flow management and additional financing.
TBAC
leverages its impact by partnering with community-based organizations
and local government economic development initiatives to create
targeted loan programs. Most recently, TBAC was involved in the
Mercer County Arena District Small Business Incentive Loan Program
to help businesses near Sovereign Bank Arena.
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For more information contact TBAC at 609-396-8271 or visit
the Web at www.tbacloan.com.
