In connection with Governor Christie’s goal of aiding small and medium businesses expand their global reach, the New Jersey Economic Development Authority, in conjunction with Citi Group’s Commercial Banking Group, has announced that the New Jersey Global Growth Financing Program will make up to $50,000,000 available to New Jersey companies engaged in international trade. “The New Jersey Global Growth Financing Program will provide access to capital and international market expertise, helping New Jersey businesses remain competitive, expand their operations, and create new jobs,” said Lt. Governor Kim Guadagno. Robert Koar, President of Citi’s Eastern Regional Commercial Banking Group noted that “through the New Jersey Global Growth Financing Program, Citi will capitalize on the combination of its local market experience and international expertise to help local companies grow and create jobs.”
To be eligible, businesses must have been in business for at least two years and have annual sales of $5 million to $50 million. This is an excellent program and shows that New Jersey is at the forefront of supporting its businesses engaged in global trade. We’re talking to our clients and advising them to take advantage of this joint NJEDA-Citi program.