Trenton Corrugated Products, a designer and manufacturer of corrugated boxes and containers, announced Monday it has received funds from M&T Bank and the New Jersey Economic Development Authority to help it expand in Trenton.
The company’s owners said they plan to use a $2.5 million M&T Bank loan with 50% EDA participation to buy a 160,000 square foot building it’s currently occupying. TCP also said it expects to hire 10 new employees.
“The advantage of working with small businesses such as Trenton Corrugated Products is that customers can expect high-quality service, well-crafted products, and personalized attention,” Ian and Cheryl Bernstein, co-owners of TCP, said.
Since its founding in 1970, TCP has grown from a two-person venture into a 35-person manufacturing business operating out of a 160,000-square-foot warehouse.
The financing was provided by EDA’s Premier Lending Program, through which the EDA works with more than two dozen banks in New Jersey to participate in commercial loans or lines of credit.
“The NJEDA offers a growing number of programs and resources specifically designed to support small businesses as they hire locally and impact the local and national marketplace,” NJEDA CEO Tim Sullivan said. “Supporting small businesses like Trenton Corrugated Products is a centerpiece of Governor Murphy’s plan for a stronger and fairer New Jersey economy.”