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With the help of a $250,000 small business loan, Central Bakery, a wholesale central bakery, will relocate from South Hackensack to a 20,000-square-foot facility it has purchased in Hackensack over the next few months, the state Economic Development Authority announced.

The minority-owned business was founded 30 years ago and acquired by Carlos and Cristina Garcia in 2005. As part of the bakery's expansion, the Garcias plan to offer additional products to attract new business.

To support the growth, Central Bakery closed a $250,000 Small Business Fund loan with the EDA to finance new equipment needed to expand the product line, including a rack oven and proofing and retarding chambers. The bakery, which sells to restaurants, delis, supermarkets and distributors, currently has a staff of 25 and expects to create 5 additional jobs at its new location.

Under the EDA's Small Business Fund, up to $300,000 is available to creditworthy small, minority-owned or women-owned businesses in New Jersey that have been in operation for at least one year or not-for-profit organizations in operation for at least three years. The program offers an expedited approval process and provides below-market financing through direct loans or guarantees. Businesses and not-for-profit organizations can use the financing for fixed assets or working capital.

The EDA closed financing and incentives totaling nearly $83 million for 111 projects in the first five months of 2010. The assistance is part of a total investment of over $164 million in New Jersey's economy.

– TOM HESTER SR., NEWJERSEYNEWSROOM.COM