The transaction was completed with the help of the New Jersey EDA's Statewide Loan Pool for Business program. EDA's 25% participation in a $472,500 loan made by United Trust Bank carries an initial interest rate of 3%. The buyer/borrower was Edge Management LLC, parent of Cutting Edge Entertainment.
The company was founded in 1994 by its current president Ray Blanco with a primary focus of developing and producing programming, much of it of the documentary genre. A secondary focus is the promotion and sale of fine art, and the new building will include an on-site art gallery.
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