More and more Hispanics are opening businesses in Cumberland County and the United States Small Business Administration is helping where they can. The SBA announced last week that in FY 2005 five loans totaling $300,000 were granted to Hispanic-owned businesses in Cumberland County through SBA's New Jersey District Office.
Among those businesses granted loans were Quiznos Subs in Vineland, that received a $150,000 loan financed through Commerce Bank, and YA-NAIS Bubble House, Inc. in Bridgeton, that received a $120,000 loan financed through Sun National Bank.
Also, R&M Tires, LLC in Vineland received a $76,500 loan financed through PNC Bank, Benefits America Enterprises LLC in Vineland received a $26,500 loan financed through the Bank of America, and A and R Stucco and Stone Facing in Bridgeton received a $10,000 loan financed through Sun National Bank.
As a whole, SBA approved 274 loans totaling $35 million to Hispanic-owned businesses in New Jersey in FY 2005 -- an increase of 35 percent from the year before.