Contact: Caroline White
New Jersey Community Capital
New Brunswick, NJ (December 27, 2018) – New Jersey Community Capital (“NJCC”) announced through its THRIVE South Jersey initiative, it has closed on a $100,000 loan to 7001 E. Black Horse Pike, LLC, a real estate holding company owned by Bob and Carey Hettmannsperger and a $40,000 loan to Essl’s Dugout by Carey, LLC, to support the purchase of Essl’s Dugout, the iconic, 46-year old local diner in Egg Harbor Township, New Jersey.
“New Jersey Community Capital played a key role in helping us access resources to purchase the building and the assets of the business from the former owners and seamlessly transition the business says Bob and Carey Hettmannsperger. “We’re thrilled that this loan will support our ability to continue the legacy of a staple institution while building a legacy of our own in our hometown of Egg Harbor Township.”
“We believe that access to capital is essential for emerging businesses and driving local economic development,” says Laura Wallick, Program Manager for THRIVE South Jersey. “As mission-driven lenders, we’re excited to provide the Hettmannspergers with the necessary resources to expand their operations and thrive in a community that they call home.”
THRIVE South Jersey works to expand local and regional capacity to generate economic growth in the targeted region of Southern New Jersey that includes Cumberland, Gloucester, Salem, and western Atlantic counties. Through a combination of strategic funding and capacity building, THRIVE South Jersey seeks to support businesses and organizations fostering community revitalization activities that generate jobs and sustain low-income families in the four county region.
About New Jersey Community Capital
New Jersey Community Capital is a nonprofit community development financial institution (CDFI) that creates thriving communities through strategic investments and knowledge. NJCC supports the preservation and development of affordable housing and sustainable community development ventures that increase jobs, improve education, and strengthen neighborhoods. For more information, visit: www.newjerseycommunitycapital.org.