financial gains

Barth’s Market Uses NJEDA Resources to Expand in Union County

Representatives from the New Jersey Economic Development Authority (NJEDA) and Provident Bank visited Barth’s Market in Union County to raise awareness of the range of low-cost financing solutions available to help small businesses flourish in the Garden State. Financing provided by Provident Bank and the NJEDA has enabled the family-owned-and-operated market to expand following years of growth.

Situated in the heart of New Providence, Barth’s Market sells German specialty products and a variety of butchered and smoked meats, poultry, pork, and seafood, as well as produce, salads, prepared foods, and baked goods. The market also offers sandwiches, poke bowls, a salad bar, a hot food bar, and daily dinner specials to its growing customer base.

To satisfy increased demand, Barth’s Market expanded its first floor to 9,486 square feet and added a second floor of almost 7,000 square feet. The market also expanded by purchasing 18,000 square feet of land adjacent to its existing property. The expansions were supported by a Provident Bank loan with participation by the NJEDA through its Premier Lender Program.

The market currently employs 50 people and, as a result of the expansion, expects to hire an additional 10 employees in the next two years as the business continues to grow.

Barth’s Market has been serving customers for nearly eighty years – since Otto Barth started the business in New Jersey after arriving from Germany in 1940 – and is now flourishing under the leadership of Otto’s grandson Jim Barth, and Jim’s son Max.

“At Barth’s Market, we’re proud of our high-quality products and our personal relationship with our loyal patrons,” Jim Barth said. “Funding from the NJEDA and Provident Bank has enabled us to broaden our offerings while maintaining that personalized touch our customers know and love.”

Through the Premier Lender Program, the NJEDA works with more than two dozen banks throughout New Jersey to guarantee or participate in a portion of commercial loans or lines of credit. Businesses can use this financing for fixed assets or term working capital, and NJEDA’s involvement in the transaction provides lenders with greater flexibility by reducing their overall exposure.

“Connecting small businesses like Barth’s Market with the financing necessary to thrive is an essential part of Governor Phil Murphy’s vision for a stronger and fairer New Jersey economy,” NJEDA Managing Director of Business Development Paul Ceppi said. “The Premier Lender Program is one of several tools available to help these small businesses grow within the Garden State, and we encourage business owners to contact NJEDA to learn more about our financing and resources.”

Ceppi was among the NJEDA representatives to visit Barth’s Market today, along with Provident Bank Senior Vice President John Falco.

“Helping small business owners to better position their enterprises within their local communities is at the core of Provident Bank’s mission,” Falco said. “Our participation in the Premier Lender Program allows us to tailor financing options to best fit the needs of our clients.”

Barth’s Market was named a 2018 NJ Family Business of the Year Award Winner by the Rothman Institute.

To access more business news, visit NJB News Now.

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