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The average American family with school-aged children will spend $595 on school supplies each year. School supply lists have expanded from the basics of pencils and papers to much more. A Paterson family may choose to shop at one of the many dollar stores that pepper the City’s streets, and may not be able to fi nd the sturdy products to last the year. Wilkin Santana, a Paterson school teacher, and his wife Idarmy, understand the need for access to affordable, quality school supplies that will last.
“Paterson has a huge need for this type of store,” explained Wilkin. “We have 52 schools and close to 200,000 residents. Why not have a store in the City to meet the needs of students, parents and teachers. They get to shop locally and on Sundays.”
The young couple who live and own a home in Paterson, and who is expecting their fi rst child, established Paterson School Supplies in August 2009, and celebrated an opening in January 2010. The journey from vision to opening was a long and thorough
one, explained Idarmy. “We took advantage of many opportunities to small business owners in the City of Paterson.”
The couple attended small business classes through the WPUNJ Small Business Development Center, where they learned to write their business plan, and what steps were necessary. They applied for and received a Small Business Micro Loan through the Paterson Restoration Corporation, and even bought some of their
business supplies and infrastructure tax-free, as a registered Urban Enterprise Zone business. Networking opportunities have presented themselves through their membership in the Greater Paterson Chamber of Commerce. In an effort to expand opportunities even greater, the Santanas have obtained a certifi cate as a minority/women owned small business in New Jersey. As a result of their experience starting a small business, the Santanas offer advice to new entrepreneurs. “Never underestimate operating expenses.” Wilkin states
this advice while pointing to his offi ce wall, which he has posted all business bills on as a reminder.
In an effort to be competitive with big box stores such a Staples, Paterson School Supplies will give a customer 10% off a competitor’s price. They look to price items at or below a competitor’s price. For example, a ream of copy paper is $4.99 at Paterson School Supplies, which is comparable with Staples. And speaking of that copy paper,
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ARCHITECTURE • ENGINEERINGCONTR ACTING • ADVERTISINGMARKETING & DESIGN
PRSRT. STDU.S. POSTAGE
PAIDPATERSON, N.J.
Permit No. 73
Greater Paterson Chamber of Commerce100 Hamilton Plaza, Suite 1201Paterson, New Jersey 07505
To: To:
Claudia Bayona Discusses Reverse Mortgages - pg. 3
Planet 301 Opens Doors at Center City - pg. 4
Dan Shiver asks, “Is it Time to Buy a Condo?” ... pg. 5
Inside this Issue...
Volume XI/Issue 11 November 2010
Address Service Requested
Greater Paterson Chamber of Commerce
continued... pg 2
Chamber HappeningsEntrepreneurial Couple Opens Paterson School Supplies on Paterson’s River Street
GREATER PATERSON CHAMBER OF COMMERCE100 Hamilton Plaza, Suite 1201
Paterson, NJ 07505(t) 973-881-7300 (F) 973-881-8233
EXECUTIVE BOARD OF DIRECTORS:Jim White Jr., White & Shauger Inc.
Vice President/Finance
Irwin Bailey, EBCO Development Corp.Vice President/Retail
Teri Duda, Berkeley CollegeVice President/Education
Rick Ricca, Verizon CommunicationsPast Chairman
Vice President/Governmental Affairs
George Waitts, Crown Roll Leaf Inc.Chairman
DIRECTORS:James Chappell, JC Printing
Patrick DeDeo, William Paterson University
Robert DeMers, Esq.
Matthew Evans, Evans Architect
Peter Garafano, Garafano Tank Services
Joseph Giannella, PNC Bank
Paul Harencak, CLI Group
Thomas Horsburgh, Ridgid Paper Tube Corp.
Joseph Langan, River Drive Construction
Sean Maloney, TD Bank
Ken Morris Jr., St. Joseph’s Medical Center
Steve Rose, Passaic County Community College
Sean Ryan, Hanson & Ryan Inc.
Art Scialla Jr., Ace Reprographic Services
Michael Seeve, Mountain Development Corp
Dan Shiver, Shiver Real Estate Agency
Roland Straten, Associated Fire Protection Inc.
Everton Scott, Public Service Electric & Gas
James Suessmann, CPA
Nick Tsapatsaris, Center City Partners, LLC
Nick Tselepis, Nicholas Real Estate
Don Vanderbeck Jr., C.J. Vanderbeck & Son Inc.
Dot Woods, Columbia Bank
STAFF:James “Jamie” A.M. Dykes II
President
Sheri A. FerreiraAssociate Director/Editor, Chamber Happenings
Gladys Bayon
Chamber Happenings is published by The Greater Paterson Chamber of Commerce. Our monthly
publication is THE source for today’s top business news and information as it relates to our members and
the Greater Paterson area.
Want Ink? Send us your announcements. What is new with you and your company? The GPCC wants to promote your goods and services. Are you an expert in your fi eld? Do you have advice to lend to our mem-bers? If so, Chamber Happenings allows members to submit by-lined articles. Send your news, announce-
ments or by-lined articles to Chamber Happenings Editor, Sheri Ferreira at [email protected] or contact the Chamber via telephone: 973-881-7300.
© All Rights Reserved. If you would like a copy of an article that appeared in Chamber Happenings, for your
own project, please let us know.
Chamber Happenings
Accurate Box Company, Inc.85 5th Avenue
Paterson
Broadway Cleaners185 Straight Street
Paterson
Broadway Jewelry/ Suns Pawnbroker72 Broadway
Paterson
Butzel, Karadimas, Carrabba, Testin, LLC252 Kinderkamack Road
Oradell
Cedar Lawn Cemetery & CrematoryMcLean Blvd. & Crooks Ave.
Paterson
Center City Sports Bar301 Main St.
Paterson
Coldwell Banker Susani Realty209 Union Avenue
Paterson
Columbia Bank19-01 Route 208 North
Fair Lawn
Cortina Ristorante118 Berkshire Ave,
Paterson
DeJong Iron Works Inc.223 Godwin Ave.
Paterson
Derya Staffi ng & Consulting302 Dakota Street
Paterson
Electrical Equipment SolutionsP.O. Box 2264
Paterson
Fourthgen Inc.202 12th Ave.
Paterson
Greenbaum Interiors LLC101 Washington St.
Paterson
Greenstar3411 Richmond Ave., Ste 700
Houston, TX
H2M Architects & Engineers119 Cherry Hill Road, Ste. 200
Parsippany
H & R Block Tax Services58 Preakness Shopping Center
Wayne
Horseless Carriage Carriers61 Iowa Ave.
Paterson
Hunziker, Jones & Sweeney, P.A.Wayne Interchange Plaza II -
155 Route 46 WestWayne
Joseph Cavalieri Inc.15 East Railway Ave.
Paterson
Joseph DeVita, Inc.20 Madison Ave.
Paterson
Levine Industries70-94 Levine Street
Paterson
Met Life Bank1455 Broad Street
Bloomfi eld
North Jersey Federal Credit Union711 Union Blvd.
Totowa
P.I.D., LLCP.O. Box 1055
Fair Lawn
Reliant Ribbon Corp.838 21st Ave.
Paterson
Ridgid Paper Tube Corp.10 Owens Drive
Wayne
Scillieri Funeral Home351 Fifth Ave.
Paterson
Showcase Laundrymat474 Broadway
Paterson
Sterling Rental, LLC746 River Street, Front
Paterson
Tablecloth Co., Inc.514 Totowa Ave.
Paterson
TRB Electro Corp./AndarnP.O. Box 840 - Park Station
Paterson
U.S. 1 Bargain Store180 Main Street
Paterson
Valtek Inc.752 20th Ave.
Paterson
Westmount Country Club728 Rifl e Camp Road
Woodland Park
White & Shauger, Inc.P.O. Box 2695
Paterson
YMCA of Paterson128 Ward St.
Paterson
THE CHAMBER THANKS OUR OCTOBER-NOVEMBER RE-NEWING AND NEW MEMBERS
PRC MICRO LOAN PROGRAMLOOKING FOR HELP TO START A SMALL BUSINESS?
PATERSON RESTORATION CORPORATION • 131 ELLISON STREET, PATERSON, NJ 973-321-1212
•The rate will be Prime + 2% and will be fi xed at the time of closing•For loans of $500 to $1,000 the term will be one year•For loans of $1,001 to $5,000, the term will be two years•For loans $5,001 to $10,000, the term will be three years
$500 - $10,000 TO START A SMALL BUSINESS IN PATERSON
Applicants must contact theWilliam Paterson University
Small Business Development Center at 125 Ellison StreetTel.: (973) 754-8695
Applicants must reside in the City of Paterson as well as plan to operate their business in the City of Paterson. All applicants will attend FREE SBDC business training
classes and individual counseling sessions.
The Micro-Loan program offers loans in the range of $500 - $10,000 to eligible candidates who reside in the city of Paterson and who are looking to establish or expand a business within the City of Paterson. The lender and source of the loan funds is the Paterson
Restoration Corporation. The Small Business Development Center locates at 131 Ellison Street is contact for the borrower.
FREE BUSINESS TRAINING
A NOTE FROM OUR PRESIDENTIn ancient Rome, running for elected offi ce was the pinnacle of civic responsibility. Today, running for elected offi ce is still one of the best ways you can contribute to society. It can be intimidating and physically or mentally exhausting. However it can also be personally fulfi lling and exciting.
In this last election three members of our Greater Paterson Chamber of Commerce ran, and even though our Chamber is an apolitical organi-
zation, we always appreciate when a business leader takes steps to improve his or her community and the economic climate, as we all benefi t together. The Chamber would like to thank all those who ran on a local level for Freeholder and Sheriff, and on a National level, for Congress. I would especially like to thank our Chamber members, Roland Straten, Terry Duffy, and Walt Garner for their enthusiasm, and willingness to make Paterson, Passaic County and New Jersey a better environment for all of us.
In addition, the Greater Paterson Chamber of Commerce congratulates Congressman Bill Pascrell, Freeholders Terry Duffy, Pat LePore, and Sheriff Richard Berdnick. We look forward to working with you all.
Jamie
Entrepreneurial... Entrepreneurial... Entrepreneurialfrom coverPaterson Education Supplies buys their inventory, whenever possible, from local vendors, such as Paterson Paper.
Although the store is a resource in the City of Paterson, the business has also had success reaching other customers.
“Half of our customers come from out of town,” indicated Wilkin. A result, he says, of the exposure their website has given them. “We are also investing in direct mailings to homes, and businesses.”
In addition, they offer up to a 30% discount to educators, including teachers, principals, and support staff. Educators can apply for a discount card, and gift cards are also available.
When their customers come through the door, the Santanas
will do all they can to garner their business and respect.
Wilkin states, “If we think a certain product is a better product for their needs, we will try to educate them. If someone is looking for a math guide because their son or daughter is struggling, I won’t sell them just any math book. I will fi nd the book that is right for their child’s problem. Any unsatisfi ed customer can un-recommend you, and we are always looking for referrals.”
CONTINUED, PG. 3... SUPPLIES
Wilkin and Idarmy Santana, pictured inside their 614 River Street store, displaying their store catalog.
The Greater Paterson Chamber of Commerce’s newest member, Claudia Bayona can already be seen taking advantages of the Chamber’s networking events and meetings. As a Consultant with MetLife Bank, she hopes to educate Chamber members on Reverse Mortgages.
A reverse mortgage is a government-insured loan that enables senior homeowners, ages 62 and older to convert part of their home equity into tax-free income without having to sell their home, give up title to it, or make required monthly mortgage payments. Borrowers can use the funds almost any way they choose.
Bayona, has over 10 years experience dealing in Reverse Mortgages, however for the past couple years, she has been in the back end of the process.
“I really wanted to get back to the forefront. I could have started somewhere the home values are higher, but I’m from Paterson and I want to start here. I want to help my community members, and I can’t do that sitting in an offi ce.”
After joining the Chamber, this month, Bayona has already attended Joint Governmental Affairs luncheons, and the Post Election Analysis and Networking Event presented by Berkeley College.
Eager to make as many contacts as possible, Bayona stated, “I know the Chamber is ‘business to business’ but almost everyone I meet can refer me to someone who may benefi t from a reverse mortgage, so I plan to be very active.”
Some of the benefi ts that Bayona wants Chamber members to know about Reverse Mortgages are the following. Seniors who obtain reverse mortgages through Met
Life are doing business with a well established company with a 140-year history. The mortgage also allows them to remain independent, and retain ownership of their home, while not making any mortgage payments. The income a senior may opt to receive from their reverse mortgage is tax-free. Currently the Internal Revenue Service treats monies received from a reverse mortgage as loan advances and not taxable income.
Bayona explained another attractive benefi t of reverse mortgages, stating, “If your value declines, you are only paying back the current value of the home. So if your home is worth $200,000 today and in a few years, is only worth $150,000 you are only paying back the $150,000.”
Met Life Bank has also introduced a new Reverse Loan program, called the Home Equity Conversion Mortgage, the HECM Saver Reverse Mortgage. According to Bayona, a regular reverse mortgage may have $18,000 in closing costs, but with a HECM Saver Reverse Mortgage, closing costs may be $4,000 - $5,000 dollars.
“We are the fi rst to come out with this type of loan, as of October 4th,” pronounced Bayona.
Consulting with your children is always recommended because “The loan is due and payable once a homeowner is no longer in the home for more than a year, so if a homeowner is in a nursing home for 9
New Chamber Member Sheds Light on Reverse Mortgages
SUPPLIES... from pg. 2
In terms of networking, the Santanas believe it is crucial to their business. “We are taking advantage of our Chamber membership, and have been advertising in the Chamber Happenings. I fi nd that the events work. I meet a lot of people and every contact can lead to a referral.”
Currently, Wilkin and Idarmy are looking for investors, who will help to expand their opportunities. “We want to expand the business and eventually hire employees,” said Idarmy.
Currently, the Santana husband-and-wife team staff the store themselves Monday through Saturday from 10AM through 8:00 PM, and Sundays from 11 AM through 6PM.
The store is located at 614 River Street in Paterson and can be reached at 973-341-3100. They are also found on Facebook. Purchasing can be done online at www.patersonschoolsupplies.com
Claudia Bayona, MetLife Reverse Mortgage Consultant, is the Chamber’s newest member
continued... pg 4
months, he or she does not have to pay the loan, as long as they are back in the home before the 365-day deadline.” If a senior stays in the home until he or she passes away, his or her estate will be reduced by the value of the loan.
Although one may have considered a Reverse Mortgage before, now may be the time to take a closer look at the products and benefi ts Met Life Bank has to offer. For many, it may be a tool for fi nancial fl exibility. Borrowers can get the money in a lump sum up front, as a fi xed monthly payment, as a line of credit, or in any combination, and it can be changed later. To qualify, borrowers must be at least 62 years old, must be U.S. residents, must own the home and must live in it. They can still have a vacation home
elsewhere, such as in Florida, but the home with the loan must be the primary residence.
The borrower retains ownership throughout the loan, and can sell the home at any time. It can even be passed on to heirs instead of being sold, although the loan must then be repaid from other money.
“It’s a good feeling when you help someone,” said Bayona. “In reality I have been able to help people out of foreclosure. I’ve able to help people repair their homes, so they could get back into their homes. I sell a product that I truly believe in.” product that I truly believe in.”
Anyone interested in a Reverse Anyone interested in a Reverse Anyone interested in a Reverse Mortgage can contact Claudia Bayona at 862-262-6637 or [email protected]
Reverse Mortgages... from pg 3ChamberGala2011
SAVE THE DATE
Saturday, January 29, 2011Westmount Country Club
Call 973-881-7300or e-mail
[email protected] for more information
The business social event of the year!
Many people are wondering whether buying a condo is a good idea especially in light of today’s market. It may seem that condos are down in popularity; but now may be the best time ever and people are buying them. The prices are lower and this may be the lifestyle you are looking for. According to many condo owners, condo living is a turnkey operation. Here are some of the things that you get when you choose a condo: Lifestyle – How You Will Live
• No cleaning; snow shoveling; painting, plumbing or maintaining the premises
• No planting and maintaining the landscape or sweeping the halls• Great neighbors and a sense of community • No responsibility for major repairs – it’s taken care of for you • Off street parking. • Some include recreation areas, game rooms, pools, security and other
amenities • Many have courtyards and balconies for relaxation• Have all the fun without the work
The Finances - Eleven Bene�its of Buying a Condo The Finances - Eleven Bene�its of Buying a Condo 1. The prices are very competitive with houses and the payments are
extremely aff ordable2. Down payments are as low as 3.5% or NO MONEY DOWN3.5% or NO MONEY DOWN for quali�ied
buyers3. Credit scores only have to be 620 4. First time home buyers may qualify for down payment and closing costs assistance 5. Gift money can be used which means less out of pocket money for the buyer 6. Seller concessions – sellers can contribute to the buyer’s closing costs 7. Tax bene�its – the buyer’s taxes will be reduced as a homeowner 8. Renting vs. owning – in the end it will probably be cheaper 9. You may qualify for a city grant (Paterson - up to $30,000) 10. No major expenses like replacing a roof or boiler 11. Condos may be perfect for rent with option to buy
If you are thinking about making a move and you want an easy, aff ordable lifestyle, consider getting a condo. For more information on condos, you can go the internet or contact a real estate agent and get lots of information. There are articles, books, magazines, websites, listings and more. If you have any questions or you would like to give feedback, call Dan Shiver at 973-684-5505x201 or email me at [email protected].
WHY NOW MAY BE THE BEST TIME EVER TO BUY A CONDOTHE PRICES ARE GREAT AND SO IS THE LIFESTYLE.
Paterson family,” she added.
At 7 PM on that Friday, Planet 301 opened to the public and saw approximately 400 visitors at its “Halloween Fest” offering a buffet dinner, dancing, games, and a DJ.
In order to insure safety to the City and parents of local children, the complex has installed a membership program that will provide IDs and enrollment in a large database. Only those who are registered are able to enjoy the complex. The membership is offered at the low annual fee
of only $19.99/person. Parents and/or guardians signing up with children are only required to pay a $9.99 per year fee and seniors are invited to join at $6.99 per year.
Planet 301 is located on the Upper Level of the Center City Mall at 301 Main Street and is open daily.
For more information about Planet 301, please call 973-345-7722, or visit www.planet301.com.
Some examples of what condos are available
WANT PRESS FOR YOUR BUSINESS?
You have to start with a press release
THE CHAMBER CAN HELP YOU WRITE A PRESS RELEASE
FOR AS LITTLE AS $35 PER PAGE.
Call 973-881-7300 for more information!
PLANET 301... from pg. 8
months, he or she does not have to pay the loan, as long as they are back in the home before the 365-day deadline.” If a senior stays in the home until he or she passes away, his or her estate will be reduced by the value of the loan.
Although one may have considered a Reverse Mortgage before, now may be the time to take a closer look at the products and benefi ts Met Life Bank has to offer. For many, it may be a tool for fi nancial fl exibility. Borrowers can get the money in a lump sum up front, as a fi xed monthly payment, as a line of credit, or in any combination, and it can be changed later. To qualify, borrowers must be at least 62 years old, must be U.S. residents, must own the home and must live in it. They can still have a vacation home
elsewhere, such as in Florida, but the home with the loan must be the primary residence.
The borrower retains ownership throughout the loan, and can sell the home at any time. It can even be passed on to heirs instead of being sold, although the loan must then be repaid from other money.
“It’s a good feeling when you help someone,” said Bayona. “In reality I have been able to help people out of foreclosure. I’ve able to help people repair their homes, so they could get back into their homes. I sell a product that I truly believe in.” product that I truly believe in.”
Anyone interested in a Reverse Anyone interested in a Reverse Anyone interested in a Reverse Mortgage can contact Claudia Bayona at 862-262-6637 or [email protected]
Reverse Mortgages... from pg 3ChamberGala2011
SAVE THE DATE
Saturday, January 29, 2011Westmount Country Club
Call 973-881-7300or e-mail
[email protected] for more information
The business social event of the year!
Many people are wondering whether buying a condo is a good idea especially in light of today’s market. It may seem that condos are down in popularity; but now may be the best time ever and people are buying them. The prices are lower and this may be the lifestyle you are looking for. According to many condo owners, condo living is a turnkey operation. Here are some of the things that you get when you choose a condo: Lifestyle – How You Will Live
• No cleaning; snow shoveling; painting, plumbing or maintaining the premises
• No planting and maintaining the landscape or sweeping the halls• Great neighbors and a sense of community • No responsibility for major repairs – it’s taken care of for you • Off street parking. • Some include recreation areas, game rooms, pools, security and other
amenities • Many have courtyards and balconies for relaxation• Have all the fun without the work
The Finances - Eleven Bene�its of Buying a Condo The Finances - Eleven Bene�its of Buying a Condo 1. The prices are very competitive with houses and the payments are
extremely aff ordable2. Down payments are as low as 3.5% or NO MONEY DOWN3.5% or NO MONEY DOWN for quali�ied
buyers3. Credit scores only have to be 620 4. First time home buyers may qualify for down payment and closing costs assistance 5. Gift money can be used which means less out of pocket money for the buyer 6. Seller concessions – sellers can contribute to the buyer’s closing costs 7. Tax bene�its – the buyer’s taxes will be reduced as a homeowner 8. Renting vs. owning – in the end it will probably be cheaper 9. You may qualify for a city grant (Paterson - up to $30,000) 10. No major expenses like replacing a roof or boiler 11. Condos may be perfect for rent with option to buy
If you are thinking about making a move and you want an easy, aff ordable lifestyle, consider getting a condo. For more information on condos, you can go the internet or contact a real estate agent and get lots of information. There are articles, books, magazines, websites, listings and more. If you have any questions or you would like to give feedback, call Dan Shiver at 973-684-5505x201 or email me at [email protected].
WHY NOW MAY BE THE BEST TIME EVER TO BUY A CONDOTHE PRICES ARE GREAT AND SO IS THE LIFESTYLE.
Paterson family,” she added.
At 7 PM on that Friday, Planet 301 opened to the public and saw approximately 400 visitors at its “Halloween Fest” offering a buffet dinner, dancing, games, and a DJ.
In order to insure safety to the City and parents of local children, the complex has installed a membership program that will provide IDs and enrollment in a large database. Only those who are registered are able to enjoy the complex. The membership is offered at the low annual fee
of only $19.99/person. Parents and/or guardians signing up with children are only required to pay a $9.99 per year fee and seniors are invited to join at $6.99 per year.
Planet 301 is located on the Upper Level of the Center City Mall at 301 Main Street and is open daily.
For more information about Planet 301, please call 973-345-7722, or visit www.planet301.com.
Some examples of what condos are available
WANT PRESS FOR YOUR BUSINESS?
You have to start with a press release
THE CHAMBER CAN HELP YOU WRITE A PRESS RELEASE
FOR AS LITTLE AS $35 PER PAGE.
Call 973-881-7300 for more information!
PLANET 301... from pg. 8
GREATER PATERSON CHAMBER OF COMMERCE100 Hamilton Plaza, Suite 1201
Paterson, NJ 07505(t) 973-881-7300 (F) 973-881-8233
EXECUTIVE BOARD OF DIRECTORS:Jim White Jr., White & Shauger Inc.
Vice President/Finance
Irwin Bailey, EBCO Development Corp.Vice President/Retail
Teri Duda, Berkeley CollegeVice President/Education
Rick Ricca, Verizon CommunicationsPast Chairman
Vice President/Governmental Affairs
George Waitts, Crown Roll Leaf Inc.Chairman
DIRECTORS:James Chappell, JC Printing
Patrick DeDeo, William Paterson University
Robert DeMers, Esq.
Matthew Evans, Evans Architect
Peter Garafano, Garafano Tank Services
Joseph Giannella, PNC Bank
Paul Harencak, CLI Group
Thomas Horsburgh, Ridgid Paper Tube Corp.
Joseph Langan, River Drive Construction
Sean Maloney, TD Bank
Ken Morris Jr., St. Joseph’s Medical Center
Steve Rose, Passaic County Community College
Sean Ryan, Hanson & Ryan Inc.
Art Scialla Jr., Ace Reprographic Services
Michael Seeve, Mountain Development Corp
Dan Shiver, Shiver Real Estate Agency
Roland Straten, Associated Fire Protection Inc.
Everton Scott, Public Service Electric & Gas
James Suessmann, CPA
Nick Tsapatsaris, Center City Partners, LLC
Nick Tselepis, Nicholas Real Estate
Don Vanderbeck Jr., C.J. Vanderbeck & Son Inc.
Dot Woods, Columbia Bank
STAFF:James “Jamie” A.M. Dykes II
President
Sheri A. FerreiraAssociate Director/Editor, Chamber Happenings
Gladys Bayon
Chamber Happenings is published by The Greater Paterson Chamber of Commerce. Our monthly
publication is THE source for today’s top business news and information as it relates to our members and
the Greater Paterson area.
Want Ink? Send us your announcements. What is new with you and your company? The GPCC wants to promote your goods and services. Are you an expert in your fi eld? Do you have advice to lend to our mem-bers? If so, Chamber Happenings allows members to submit by-lined articles. Send your news, announce-
ments or by-lined articles to Chamber Happenings Editor, Sheri Ferreira at [email protected] or contact the Chamber via telephone: 973-881-7300.
© All Rights Reserved. If you would like a copy of an article that appeared in Chamber Happenings, for your
own project, please let us know.
Chamber Happenings
Accurate Box Company, Inc.85 5th Avenue
Paterson
Broadway Cleaners185 Straight Street
Paterson
Broadway Jewelry/ Suns Pawnbroker72 Broadway
Paterson
Butzel, Karadimas, Carrabba, Testin, LLC252 Kinderkamack Road
Oradell
Cedar Lawn Cemetery & CrematoryMcLean Blvd. & Crooks Ave.
Paterson
Center City Sports Bar301 Main St.
Paterson
Coldwell Banker Susani Realty209 Union Avenue
Paterson
Columbia Bank19-01 Route 208 North
Fair Lawn
Cortina Ristorante118 Berkshire Ave,
Paterson
DeJong Iron Works Inc.223 Godwin Ave.
Paterson
Derya Staffi ng & Consulting302 Dakota Street
Paterson
Electrical Equipment SolutionsP.O. Box 2264
Paterson
Fourthgen Inc.202 12th Ave.
Paterson
Greenbaum Interiors LLC101 Washington St.
Paterson
Greenstar3411 Richmond Ave., Ste 700
Houston, TX
H2M Architects & Engineers119 Cherry Hill Road, Ste. 200
Parsippany
H & R Block Tax Services58 Preakness Shopping Center
Wayne
Horseless Carriage Carriers61 Iowa Ave.
Paterson
Hunziker, Jones & Sweeney, P.A.Wayne Interchange Plaza II -
155 Route 46 WestWayne
Joseph Cavalieri Inc.15 East Railway Ave.
Paterson
Joseph DeVita, Inc.20 Madison Ave.
Paterson
Levine Industries70-94 Levine Street
Paterson
Met Life Bank1455 Broad Street
Bloomfi eld
North Jersey Federal Credit Union711 Union Blvd.
Totowa
P.I.D., LLCP.O. Box 1055
Fair Lawn
Reliant Ribbon Corp.838 21st Ave.
Paterson
Ridgid Paper Tube Corp.10 Owens Drive
Wayne
Scillieri Funeral Home351 Fifth Ave.
Paterson
Showcase Laundrymat474 Broadway
Paterson
Sterling Rental, LLC746 River Street, Front
Paterson
Tablecloth Co., Inc.514 Totowa Ave.
Paterson
TRB Electro Corp./AndarnP.O. Box 840 - Park Station
Paterson
U.S. 1 Bargain Store180 Main Street
Paterson
Valtek Inc.752 20th Ave.
Paterson
Westmount Country Club728 Rifl e Camp Road
Woodland Park
White & Shauger, Inc.P.O. Box 2695
Paterson
YMCA of Paterson128 Ward St.
Paterson
THE CHAMBER THANKS OUR OCTOBER-NOVEMBER RE-NEWING AND NEW MEMBERS
PRC MICRO LOAN PROGRAMLOOKING FOR HELP TO START A SMALL BUSINESS?
PATERSON RESTORATION CORPORATION • 131 ELLISON STREET, PATERSON, NJ 973-321-1212
•The rate will be Prime + 2% and will be fi xed at the time of closing•For loans of $500 to $1,000 the term will be one year•For loans of $1,001 to $5,000, the term will be two years•For loans $5,001 to $10,000, the term will be three years
$500 - $10,000 TO START A SMALL BUSINESS IN PATERSON
Applicants must contact theWilliam Paterson University
Small Business Development Center at 125 Ellison StreetTel.: (973) 754-8695
Applicants must reside in the City of Paterson as well as plan to operate their business in the City of Paterson. All applicants will attend FREE SBDC business training
classes and individual counseling sessions.
The Micro-Loan program offers loans in the range of $500 - $10,000 to eligible candidates who reside in the city of Paterson and who are looking to establish or expand a business within the City of Paterson. The lender and source of the loan funds is the Paterson
Restoration Corporation. The Small Business Development Center locates at 131 Ellison Street is contact for the borrower.
FREE BUSINESS TRAINING
A NOTE FROM OUR PRESIDENTIn ancient Rome, running for elected offi ce was the pinnacle of civic responsibility. Today, running for elected offi ce is still one of the best ways you can contribute to society. It can be intimidating and physically or mentally exhausting. However it can also be personally fulfi lling and exciting.
In this last election three members of our Greater Paterson Chamber of Commerce ran, and even though our Chamber is an apolitical organi-
zation, we always appreciate when a business leader takes steps to improve his or her community and the economic climate, as we all benefi t together. The Chamber would like to thank all those who ran on a local level for Freeholder and Sheriff, and on a National level, for Congress. I would especially like to thank our Chamber members, Roland Straten, Terry Duffy, and Walt Garner for their enthusiasm, and willingness to make Paterson, Passaic County and New Jersey a better environment for all of us.
In addition, the Greater Paterson Chamber of Commerce congratulates Congressman Bill Pascrell, Freeholders Terry Duffy, Pat LePore, and Sheriff Richard Berdnick. We look forward to working with you all.
Jamie
Entrepreneurial... Entrepreneurial... Entrepreneurialfrom coverPaterson Education Supplies buys their inventory, whenever possible, from local vendors, such as Paterson Paper.
Although the store is a resource in the City of Paterson, the business has also had success reaching other customers.
“Half of our customers come from out of town,” indicated Wilkin. A result, he says, of the exposure their website has given them. “We are also investing in direct mailings to homes, and businesses.”
In addition, they offer up to a 30% discount to educators, including teachers, principals, and support staff. Educators can apply for a discount card, and gift cards are also available.
When their customers come through the door, the Santanas
will do all they can to garner their business and respect.
Wilkin states, “If we think a certain product is a better product for their needs, we will try to educate them. If someone is looking for a math guide because their son or daughter is struggling, I won’t sell them just any math book. I will fi nd the book that is right for their child’s problem. Any unsatisfi ed customer can un-recommend you, and we are always looking for referrals.”
CONTINUED, PG. 3... SUPPLIES
Wilkin and Idarmy Santana, pictured inside their 614 River Street store, displaying their store catalog.
The Greater Paterson Chamber of Commerce’s newest member, Claudia Bayona can already be seen taking advantages of the Chamber’s networking events and meetings. As a Consultant with MetLife Bank, she hopes to educate Chamber members on Reverse Mortgages.
A reverse mortgage is a government-insured loan that enables senior homeowners, ages 62 and older to convert part of their home equity into tax-free income without having to sell their home, give up title to it, or make required monthly mortgage payments. Borrowers can use the funds almost any way they choose.
Bayona, has over 10 years experience dealing in Reverse Mortgages, however for the past couple years, she has been in the back end of the process.
“I really wanted to get back to the forefront. I could have started somewhere the home values are higher, but I’m from Paterson and I want to start here. I want to help my community members, and I can’t do that sitting in an offi ce.”
After joining the Chamber, this month, Bayona has already attended Joint Governmental Affairs luncheons, and the Post Election Analysis and Networking Event presented by Berkeley College.
Eager to make as many contacts as possible, Bayona stated, “I know the Chamber is ‘business to business’ but almost everyone I meet can refer me to someone who may benefi t from a reverse mortgage, so I plan to be very active.”
Some of the benefi ts that Bayona wants Chamber members to know about Reverse Mortgages are the following. Seniors who obtain reverse mortgages through Met
Life are doing business with a well established company with a 140-year history. The mortgage also allows them to remain independent, and retain ownership of their home, while not making any mortgage payments. The income a senior may opt to receive from their reverse mortgage is tax-free. Currently the Internal Revenue Service treats monies received from a reverse mortgage as loan advances and not taxable income.
Bayona explained another attractive benefi t of reverse mortgages, stating, “If your value declines, you are only paying back the current value of the home. So if your home is worth $200,000 today and in a few years, is only worth $150,000 you are only paying back the $150,000.”
Met Life Bank has also introduced a new Reverse Loan program, called the Home Equity Conversion Mortgage, the HECM Saver Reverse Mortgage. According to Bayona, a regular reverse mortgage may have $18,000 in closing costs, but with a HECM Saver Reverse Mortgage, closing costs may be $4,000 - $5,000 dollars.
“We are the fi rst to come out with this type of loan, as of October 4th,” pronounced Bayona.
Consulting with your children is always recommended because “The loan is due and payable once a homeowner is no longer in the home for more than a year, so if a homeowner is in a nursing home for 9
New Chamber Member Sheds Light on Reverse Mortgages
SUPPLIES... from pg. 2
In terms of networking, the Santanas believe it is crucial to their business. “We are taking advantage of our Chamber membership, and have been advertising in the Chamber Happenings. I fi nd that the events work. I meet a lot of people and every contact can lead to a referral.”
Currently, Wilkin and Idarmy are looking for investors, who will help to expand their opportunities. “We want to expand the business and eventually hire employees,” said Idarmy.
Currently, the Santana husband-and-wife team staff the store themselves Monday through Saturday from 10AM through 8:00 PM, and Sundays from 11 AM through 6PM.
The store is located at 614 River Street in Paterson and can be reached at 973-341-3100. They are also found on Facebook. Purchasing can be done online at www.patersonschoolsupplies.com
Claudia Bayona, MetLife Reverse Mortgage Consultant, is the Chamber’s newest member
continued... pg 4
Downtown HappeningsYou can experience Downtown Paterson on the web at www.shoppaterson.org
Planet 301 Debuts at Center City Mall in Downtown Paterson�
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On Friday October 29th, 2010 Planet 301 Family Entertainment Center at the Center City Mall offi cially opened to the public just in time for the Halloween weekend. At noon, Planet 301 staff, as well as local elected offi cials, joined Mayor Jeffery Jones and Assemblywoman Nellie Pou, for a press conference announcing the entertainment center’s grand opening.
A diverse crowd of attendees were already grinning from ear-to-ear feeling the benefi ts this complex will provide for the youth of Paterson. The arcade and gaming center fi lled with dozens of interactive video games, laser-tag, paintless paint
ball, basketball courts, bowling lanes, and a snack bar, among many other attractions will no doubt provide a safe and fun area for children during the nights and weekends. In addition, the Center City Mall is home to batting cages, a movie theater, and a wide-array of food stores all open with late night hours, providing monitored entertainment within City limits, and off the streets, for youth of all ages.
Stacey V. Tsapatsaris, Managing Director of the Center City Mall hosted the ceremony
and was joined by mall developers, City residents and several religious offi cials who were all honored to be present to give their well wishes to the Planet 301 Staff.
Tsapatsaris was grateful for the support of the Mayor, the City Council, and the Assemblywoman and was so happy that after many hours of hard work, the opening weekend had arrived. She stated, “Elected offi cials are the catalyst of the City. If they’re behind us, then
I know the constituents of Paterson are.” She also made a point to thank her trusted Staff who have already provided countless hours of work and set-up, even before the Center had offi cially opened.
Mayor Jeffery Jones professed his gratefulness to Stacey and her staff for their tremendous efforts to provide such great leisure options for the youth of Paterson. “Now, we do not have to venture outside of City limits to fi nd supplemental entertainment,” he stated proudly.
Assemblywoman Nellie Pou admitted that she was honored to be a guest at such a monumental event for the City of Paterson and said she would hope to be a part of every ribbon cutting the City is proud to host. “This is a great day for Paterson,” she exclaimed. “Now that the complex is open within City limits, you have joined the Paterson family,” she added.
L to R: Assemblywoman Nellie Pou, Planet 301 Employee, Carolina Galeano, Partner Stacey Tsapatsaris, Paterson Mayor Jeffery Jones, George Valiotis, and Parnet Nick Tsapatsaris.
Exquisite Lunch, Dinner and Brunch Menu Wine Bar & Lounge
Cigar Humidor & Smoking Lounge Wine Cellar VIP Room
Four Private Rooms accommodating 10 - 350 guests
Located opposite Passaic County Courthouse and alongside the Center City Mall
at the intersections of Hamilton & Ward Streets
Only two blocks from Route 80, Exit 57B
Convenient and Free Valet Parking Available (with Minimum Purchase)
For Reservations Call (973) 345-8444
101 Ward Street Paterson, NJ 07505
CONTINUED, PG. 9... PLANET
by Lauren Ricca
GOT ROCK SALT?
GRAND HARDWARE CAN HELP YOU PREPARE FOR THE STORMS AHEAD
Announcing Skid PricesRock SaltCalcium
25lb Rock Salt PK 100 Bags - $359 per skid50lb Rock Salt PK 49 Bags - $303.18 per skid50 lb Calcium PK 45 Bags - $571.50 per skid
Tailgate DeliveryNo Discounts Are Applied
Offer ExpiresNovember 30, 2010
GRAND HARDWARE, INC.336 Grand Street, Paterson, NJ 07505
Phone: 973-684-1411/Fax: 973-684-4933Advertisement
GOT ROCK SALT?
GRAND HARDWARE CAN HELP YOU PREPARE FOR THE STORMS AHEAD
Announcing Skid PricesRock SaltCalcium
25lb Rock Salt PK 100 Bags - $359 per skid50lb Rock Salt PK 49 Bags - $303.18 per skid50 lb Calcium PK 45 Bags - $571.50 per skid
Tailgate DeliveryNo Discounts Are Applied
Offer ExpiresNovember 30, 2010
GRAND HARDWARE, INC.336 Grand Street, Paterson, NJ 07505
Phone: 973-684-1411/Fax: 973-684-4933Advertisement
Downtown HappeningsYou can experience Downtown Paterson on the web at www.shoppaterson.org
Planet 301 Debuts at Center City Mall in Downtown Paterson
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On Friday October 29th, 2010 Planet 301 Family Entertainment Center at the Center City Mall offi cially opened to the public just in time for the Halloween weekend. At noon, Planet 301 staff, as well as local elected offi cials, joined Mayor Jeffery Jones and Assemblywoman Nellie Pou, for a press conference announcing the entertainment center’s grand opening.
A diverse crowd of attendees were already grinning from ear-to-ear feeling the benefi ts this complex will provide for the youth of Paterson. The arcade and gaming center fi lled with dozens of interactive video games, laser-tag, paintless paint
ball, basketball courts, bowling lanes, and a snack bar, among many other attractions will no doubt provide a safe and fun area for children during the nights and weekends. In addition, the Center City Mall is home to batting cages, a movie theater, and a wide-array of food stores all open with late night hours, providing monitored entertainment within City limits, and off the streets, for youth of all ages.
Stacey V. Tsapatsaris, Managing Director of the Center City Mall hosted the ceremony
and was joined by mall developers, City residents and several religious offi cials who were all honored to be present to give their well wishes to the Planet 301 Staff.
Tsapatsaris was grateful for the support of the Mayor, the City Council, and the Assemblywoman and was so happy that after many hours of hard work, the opening weekend had arrived. She stated, “Elected offi cials are the catalyst of the City. If they’re behind us, then
I know the constituents of Paterson are.” She also made a point to thank her trusted Staff who have already provided countless hours of work and set-up, even before the Center had offi cially opened.
Mayor Jeffery Jones professed his gratefulness to Stacey and her staff for their tremendous efforts to provide such great leisure options for the youth of Paterson. “Now, we do not have to venture outside of City limits to fi nd supplemental entertainment,” he stated proudly.
Assemblywoman Nellie Pou admitted that she was honored to be a guest at such a monumental event for the City of Paterson and said she would hope to be a part of every ribbon cutting the City is proud to host. “This is a great day for Paterson,” she exclaimed. “Now that the complex is open within City limits, you have joined the Paterson family,” she added.
L to R: Assemblywoman Nellie Pou, Planet 301 Employee, Carolina Galeano, Partner Stacey Tsapatsaris, Paterson Mayor Jeffery Jones, George Valiotis, and Parnet Nick Tsapatsaris.
Exquisite Lunch, Dinner and Brunch Menu Wine Bar & Lounge
Cigar Humidor & Smoking Lounge Wine Cellar VIP Room
Four Private Rooms accommodating 10 - 350 guests
Located opposite Passaic County Courthouse and alongside the Center City Mall
at the intersections of Hamilton & Ward Streets
Only two blocks from Route 80, Exit 57B
Convenient and Free Valet Parking Available (with Minimum Purchase)
For Reservations Call (973) 345-8444
101 Ward Street Paterson, NJ 07505
CONTINUED, PG. 9... PLANET
by Lauren Ricca
The average American family with school-aged children will spend $595 on school supplies each year. School supply lists have expanded from the basics of pencils and papers to much more. A Paterson family may choose to shop at one of the many dollar stores that pepper the City’s streets, and may not be able to fi nd the sturdy products to last the year. Wilkin Santana, a Paterson school teacher, and his wife Idarmy, understand the need for access to affordable, quality school supplies that will last.
“Paterson has a huge need for this type of store,” explained Wilkin. “We have 52 schools and close to 200,000 residents. Why not have a store in the City to meet the needs of students, parents and teachers. They get to shop locally and on Sundays.”
The young couple who live and own a home in Paterson, and who is expecting their fi rst child, established Paterson School Supplies in August 2009, and celebrated an opening in January 2010. The journey from vision to opening was a long and thorough
one, explained Idarmy. “We took advantage of many opportunities to small business owners in the City of Paterson.”
The couple attended small business classes through the WPUNJ Small Business Development Center, where they learned to write their business plan, and what steps were necessary. They applied for and received a Small Business Micro Loan through the Paterson Restoration Corporation, and even bought some of their
business supplies and infrastructure tax-free, as a registered Urban Enterprise Zone business. Networking opportunities have presented themselves through their membership in the Greater Paterson Chamber of Commerce. In an effort to expand opportunities even greater, the Santanas have obtained a certifi cate as a minority/women owned small business in New Jersey. As a result of their experience starting a small business, the Santanas offer advice to new entrepreneurs. “Never underestimate operating expenses.” Wilkin states
this advice while pointing to his offi ce wall, which he has posted all business bills on as a reminder.
In an effort to be competitive with big box stores such a Staples, Paterson School Supplies will give a customer 10% off a competitor’s price. They look to price items at or below a competitor’s price. For example, a ream of copy paper is $4.99 at Paterson School Supplies, which is comparable with Staples. And speaking of that copy paper,
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ARCHITECTURE • ENGINEERINGCONTR ACTING • ADVERTISINGMARKETING & DESIGN
PRSRT. STDU.S. POSTAGE
PAIDPATERSON, N.J.
Permit No. 73
Greater Paterson Chamber of Commerce100 Hamilton Plaza, Suite 1201Paterson, New Jersey 07505
To: To:
Claudia Bayona Discusses Reverse Mortgages - pg. 3
Planet 301 Opens Doors at Center City - pg. 4
Dan Shiver asks, “Is it Time to Buy a Condo?” ... pg. 5
Inside this Issue...
Volume XI/Issue 11 November 2010
Address Service Requested
Greater Paterson Chamber of Commerce
continued... pg 2
Chamber HappeningsEntrepreneurial Couple Opens Paterson School Supplies on Paterson’s River Street
