(Courtesy of NJJBA) Over 100 business executives, real estate developers and investors packed St. Peters University’s Sky Room in Jersey City to hear about the current lending market. This event was part of the North Jersey Jewish Business Alliance’ GROWinNJ series of Economic Development Forums.
The conference began with a networking session which was followed by a hot gourmet kosher lunch. David Rosenberg, executive director of the NJJBA, opened the program by welcoming the crowd. He then called upon Tom Coughlin, president and CEO of BCB Bank, to deliver remarks.
The forum was comprehensive and information-packed for businesses seeking financing options to expand, with each speaker addressing a different angle of it. Christina Fuentes, director of Small Business Development at the NJEDA, spoke about the different loans the NJ EDA offers, including bond financing for manufacturers. Jeffrey Rich, partner at Genova Burns and chair of its Commercial RE and Redevelopment Practice, discussed the growing market of unconventional loans. Saul Friedman, managing partner at Saul N. Friedman & Co, spoke at length about the difference of a 1031 and the new qualified opportunity zones. Christopher McManus, SVP at Investors Bank’s Equipment Finance Division, explained the changing market in equipment financing. Paul Gilbert, senior vice president at Meridian Capital laid out the different loans available in the current market. Another panelist, Jason Sobel, member of the Sills Cummis & Gross RE Dept. and chair of its FORE Practice, the audience how to unlock equity from owned real estate.
The crowd had the opportunity to personally direct questions and receive answers from the experts for specific situations. Attendees left the event with a deep understanding and unparalleled guidance surrounding lending options and opportunities for their business.
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