Recently Funded Deal: Marble and Granite Company
- A marble and granite company located in Ramsey, NJ needed more space to expand their business.
- The company saw an increase in orders and needed more space to store more inventory and to ensure that none of their business would be turned away.
- Also, the company operated from multiple smaller locations and as a result there were increased employee and storage costs as well as other added expenses.
- Two River Community Bank recognized the fit for a CDC 504 loan for the marble and granite company.
- The 504 Company funded $3,079,928 of a $7,699,823 project that allowed for the purchase of a much larger property and the construction of the building.
- The construction resulted in an increase in total square feet from 15,100 between two existing locations to 69,000 in the new location.
- As a result of the expansion, the company would now be able to inventory larger slabs of marble and stone which are their primary products.