The EDC has collected a variety of incentives and funding sources. The EDC can help navigate and make introductions to help you identify the programs that will work best for you and your business.
The Borough of Pitman is working hard to find innovative ways to help provide existing or emerging businesses funding for capital improvements necessary for business creation or expansion into a vacant building or lot in the uptown business district. The purpose of the Uptown Business Incentive Program is to attract customers and investors to the downtown business district as we create a positive, revitalized, and professional image for our community.
The Greater Pitman Chamber of Commerce is offering a maximum of $1000 to help fund exterior improvements to storefronts.
In 2011, Pitman enacted a tax abatement program for taxes assessed on any property improvements on commercial properties in any of the designated redevelopment zones. This program gives the property owner a 5-year period to pay for the total increased assessment on the property–the first year paying taxes on 20% of the total assessed value and the last year paying 100%. Read more here: Tax Abatement Ordinance
Other State and County Resources
- How to get a business loan
- Gloucester County Small Business Guide
- Gloucester County Small Business Revolving Loan Program
- NJ Small Business Association
- US Small Business Association
- NJ Small Business Development Center is committed to guiding established small business owners and aspiring entrepreneurs to create and expand their business enterprises which will, in turn, result in sustainable growth, job creation and statewide economic development and prosperity. The network, in carrying out its mission and purpose, exists to provide unmatched customer service and personal commitment to the small business client with honest evaluations of client probability of success; Bring high-value to the small business community; Produce positive outcomes for entrepreneurs and established small businesses; Serve communities and small businesses, facilitating economic development; Lead in providing education and training to small businesses.
- Cooperative Business Assistance Corporation (CBAC) is a nonprofit organization providing market or below market interest rate business loans and technical assistance to small businesses located in or moving into the Philadelphia, Pennsylvania and Southern New Jersey region. CBAC is a Community Development Financial Institution, and a Community Development Entity as recognized by the United States Department of the Treasury. We are also recognized by the United States Small Business Administration (SBA) as a designated intermediary lender for their Micro Loan, and Associate Development Company for SBA 504 Programs. If your business is located in or will be moving to Southern New Jersey or Philadelphia, Pennsylvania, Cooperative Business Assistance Corporation seeks to help businesses like yours. Businesses which create jobs and provide necessary services for residents of the South Jersey and Philadelphia communities.
- New Jersey Economic Development Authority If you are a business in need of financing to grow in New Jersey, a not-for-profit organization seeking capital to expand community services, a municipality looking to attract a major corporation within your boundaries, or a developer requiring funds for a major redevelopment project, the New Jersey Economic Development Authority (EDA) is ready to put its resources to work for you. With our large portfolio of varied programs and services, the EDA can assist you with access to capital, including tax-exempt and taxable bond financing, loans, loan guarantees, and business and tax incentives. They can finance up to 95% of the cost of a new building.
- Contact John Balsama at (609) 331-4668 or email@example.com.
- New Jersey Community Capital partnered with the Pascale Sykes Foundation in December 2014 to launch THRIVE, an economic initiative developed to address the challenges of poverty and unemployment in the targeted four-county region as part of Pascale Syke’s South Jersey Strengthening Families Initiative. THRIVE aims to deploy flexible, affordable capital and capacity building assistance to generate quality jobs and improve economic opportunity across the four-county area. For more information, contact Laura Wallick at 267.397.1605 or firstname.lastname@example.org