In August, Tayrex Corporationclosed on an $85,000 loan through the New Jersey Economic DevelopmentAuthority’s (EDA) Small Business Fund to help the company launch a new product– Medulla Pro. The software will help field service engineers and techniciansaddress a range of concerns, including pressure to bolster service-relatedrevenue, combat real-time communication issues, and improve scheduling, routingand dispatch.
EDA Chief Executive OfficerMelisa Orsen visited the company today as part of the EDA’s ongoing efforts tofacilitate awareness of the programs it offers to support small and mid-sizedbusinesses and not-for-profits.
“Family-owned small businesseslike Tayrex represent the backbone of New Jersey’s economy,” Orsen said. “In this case, Tayrex’s mission is to improve the operations of otherbusinesses, so the impact of their success is two-fold.”
The EDA’s activities to promoteits programs in support of small businesses are based on the theme “EDA WasHere.” The campaign and new social media presence highlight howorganizations like Tayrex have used the EDA’s financing programs to overcomechallenges, meet their needs and grow. In 2015, the EDA closed on over $440million in traditional financing assistance, including bonds for manufacturersand not-for-profit organizations. The Small Business Fund, under whichTayrex benefited, offers creditworthy small, minority-owned or women-ownedbusinesses assistance of up to $500,000 and features an expedited approvalprocess and fixed interest rates.
“As a family-owned software andconsulting firm, we work closely with our clients to understand their vision sothat we can provide the tools they need to work smarter, better and moreeffectively,” Tayrex Corporation Co-Founder Eric S. Tayar said. “The fundingfrom this loan will help us achieve our goal of personalized service for eachof our customers.”