FOR IMMEDIATE RELEASE
Press Contact: Kathleen Cronin, NJSBDC
201-982-0689
Ramapo NJSBDC Partners with Corporate Turnaround to triage and assist small business affected by Corona Virus COVID-19
March 23th, 2020 (Newark, NJ) – As emergency orders are being signed across New Jersey, thousands of businesses are being forced to close their doors immediately. “Businesses that are even allowed to be open for a few hours a day are seeing a steep drop in customers and are beginning to lay-off employees and they don’t know when it’s going to stop” says Vince Vicari, Regional Director of the Bergen/Ramapo NJSBDC. “ The phones are ringing off the hook, and I needed help assessing each case to determine what programs and loans are the best fit, so I asked our long term partner, Corporate Turnaround (CT), to help. “ They were there for us in Hurricane Sandy, and they are here for us now”, adds Vicari.
Charles Evans, Director of Business Development for CT says, “We have very experienced consultants and the infrastructure to manage the calls and web inquiries for the NJSBDC at times of high volume. Small businesses seeking the assistance of the SBDC are encouraged to fill out SBA Form 641 and register for help first. The form can be found on The NJSBDC Ramapo website or you can follow the links from there to us and we’ll help you”.
Kathleen Cronin, NJ SBDC Ramapo Regional Center Coordinator & Outreach says “The NJSBDC is committed to responding as quickly as possible to help businesses in New Jersey. The good news is more funds have just been made available.”
The U.S. Small Business Administration (SBA) has set aside $50 billion in low-interest Economic Injury Disaster Loans (EIDL) for “on-going” small businesses affected by the Coronavirus. Individual businesses may apply for up to $2 million per loan.
About Corporate Turnaround
Corporate Turnaround, founded in 1998, has developed a unique program for small businesses overwhelmed with debt. It is designed to be affordable, even for business owners operating with an extremely tight cash flow. The success stories of their clients have been featured in major newspapers and on network TV across the country. After working with thousands of small businesses and negotiating tens of thousands of debts for their clients, they are considered by many to be the foremost authority for turning around small businesses. To learn more, visit www.DontDeclare.com
About America’s SBDC New Jersey (NJSBDC)
The New Jersey Small Business Development Centers network, consisting of 12 centers, has provided comprehensive services and programs for small business in New Jersey’s 21 counties for 40 years. This non-profit federal-state-educational partnership leverages funding from the U.S. Small Business Administration (SBA), the N.J. Business Action Center, and other private/public grants/sponsorships. NJSBDC Headquarters, located at Rutgers Business School, is an accredited member of America’s SBDC, a national network with up to 1,000 centers/ satellite offices across the country, generating jobs, new businesses and economic development. Visit www.njsbdc.com.
# # #