HELP Loan Approved For Long-Time Hainesport Business | Way of life
MOUNT HOLLY >> A Hainesport-based lawn care company is set to receive a critical lifeline from Burlington County.
The Burlington County Council of Commissioners voted to approve the granting of an interest-free loan of $ 45,000 to the South Jersey Lawns LCC through the County Health Emergency Loan Program, also known as the ‘HELP.
The loan is expected to help the business buy supplies and equipment to keep the business going.
Since the very beginning of the pandemic, our council has made it a mission to provide as much help as possible to our residents and small businesses. HELP Loans are one way to help local businesses weather this storm, and we’re proud to offer a lifeline to businesses like South Jersey Lawns, ”said Commissioner-Director Felicia Hopson.
HELP loans are interest-free and were created as part of the county’s response to the ongoing pandemic and the economic fallout caused by the crisis.
A total of $ 660,000 in federal funding for the CARES Act has been guaranteed by the Economic Development Office of the Burlington County Bridge Commission for loans, which are available to Burlington County businesses experiencing difficulty due to of the pandemic.
The Bridge Commission is also responsible for administering the program.
Loans are capped at $ 50,000 and can be used for business-related purchases, payroll, or other expenses or improvements. There are no closing costs, but sufficient collateral in personal or business property is required to secure the loan.
South Jersey Lawns is the fifth company in the county to receive a HELP loan since the program began. The company has operated in Burlington County for 16 years and its owner Wayne Trojanowski has lived in the county for 39 years.
“In 2020, like many small businesses, I took a hit and found myself in a hole that I couldn’t get out of. I found myself contemplating the future and sustainability of my business, ”said Trojanowski. “With federal funds being taken by big business, small businesses like mine ended up with an inbox full of ‘I’m sorry but you don’t qualify emails.’ I had to borrow on high interest credit cards which might have helped me now, but ultimately sank me as the interest on the debt became overwhelming. “
He learned about the HELP loan program from a friend and was guided through the application process by Liz Verna, the county’s director of economic development.
“As a business owner who has faced the most difficult year of my life, as a husband and father whose family’s future rests on my shoulders, I cannot express how grateful I am. to (Verna) and all those who helped make this program happen in Burlington County. Trojanowski added. “This HELP loan will secure my business for years to come. I, for one, am proud to be a resident and business owner in Burlington County and hope to remain so for many years to come.
Hopson said additional loans were still available and she encouraged companies interested in the program to go www.bcbridges.org/covid19-resources/
“Now more than ever, it is important for all levels of government to help small businesses as they continue to struggle to recover from the unprecedented challenges created by COVID-19,” Hopson said. “Businesses like South Jersey Lawns are not faceless businesses. Their owners and employees are our neighbors and friends. By giving them zero-interest HELP loans, we are supporting our own communities and helping them keep their vitality. “