So, EDA CEO Melissa Orsen visited the Italian food importer to raise awareness of the Premier Lender Program and the range of other low-cost financing solutions offered by the EDA to support the growth of small businesses in New Jersey.
“We welcome Buon’Italia to the state and encourage all companies looking to expand or invest in their operations to look to the EDA first, so they can be informed of all financing options available to support their growth in New Jersey,” Orsen said. “Our highly skilled labor pool, perfect location and world-class infrastructure have attracted scores of distribution and warehouse centers to the state. Together with a booming food and agriculture industry, New Jersey is an ideal home for Buon’Italia as it continues to grow.”
Buon’Italia had a place in New York City’s Chelsea Market for nearly 20 years when founder Domenico “Mimmo” Magliulo and his family decided to expand its wholesale distribution capabilities with a 27,500-square-foot warehouse on Port Jersey Boulevard in Jersey City.
Magliulo used a Fulton Bank loan with a nearly 26 percent EDA participation. Fulton Bank is one of EDA’s approximately two dozen Premier Lender partners. The bank’s commercial lender, Angelica Lyons, joined Orsen at the location.
“Jersey City offers many logistical advantages, including access to major ports, highways and Hudson River crossings, while still remaining close to the heart of our existing customer base,” Magliulo said. “The support provided by Fulton Bank and the EDA has truly helped to facilitate our expansion.”