The deal was done with the help of a financing package from the New Jersey Economic Development Authority, Sun National Bank and the Cooperative Business Assistance Corp. The $640,000 project was financed with a $130,000 EDA direct loan, a $330,000 mortgage loan from Sun National and a $50,000 loan from the non-profit CBAC. The five-year EDA loan was made at an initial variable quarterly interest rate of 3%.
Better Choice Packaging, founded four years ago by its president, Nancy P. Toscani, prepares package displays and products for such companies as Arm & Hammer, Bath & Body Works, Herr's, Hershey, McCormick Spices and Sherwin Williams, and also packages items for small and mid-sized customers. The company started out in 1998 in a 15,000-sf leased space in Westville, NJ, then moved to 26,000 sf of leased space in Camden.
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