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Published on: 5/1/2002
Last Visited: 5/1/2002
Robert V. Santare
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Robert V. Santare, 2002 NJ Small Business Person-of-the-Year.
Robert V. Santare once found himself unemployed after 16 years in the manufacturing industry, as his previous employer went out of business.He was jobless until he formed Champion Fasteners Company, Inc. in 1990 along with his partner, Aldo Magazzeni.Santare, president of Champion Fasteners, Inc., based in Mount Holly, has now been named 2002 U.S. SBA New Jersey Small Business Person-of-the-Year.He is also in the running for the national prize, presented in Washington, D.C., which at presstime, has not yet been awarded.
The SBA-NJ district office is holding a luncheon May 10 at the Hyatt in New Brunswick, in recognition of New Jersey's winners.
Champion Fasteners specializes in the manufacturing and distribution of specialty fasteners, nuts and bolts and fabricated metals used primarily for the industrial OEM (Original Equipment Manufacturer) market, in which companies make equipment, as opposed to selling equipment made by other manufacturers.
The small business Person-of-the-Year award qualifiers must meet a number of requirements: staying power, or displaying a history as an established business; growth in number of employees (Champion has gone from three employees in 1990 to 40 today); an increase in sales and/or unit volume (annual sales have increased from $1 million to almost $6 million); current and past financial reports to substantiate improved financial position of the business; innovativeness of product or service offered; response to adversity; and contributions by the nominee to aid community-oriented projects.
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"We had assistance from the New Jersey Economic Development Authority, with a loan totaling $225,000 for working capital, a Burlington County Economic Development Authority loan and a Small Business Administration loan, of which all have since been satisfied," Santare explains.
Regarding the Burlington County grant, the firm, in 1994, became the flagship partner in a major Technology Reinvestment Grant obtained through Burlington County College under the sponsorship of the National Science Foundation.Champion created an on-site training center, including a factory classroom with the three-year $900,000 grant it received.Certain equipment was also purchased and integrated into the existing manufacturing machinery on the factory floor.Over 400 Burlington County residents participated in the program for the three-year period of the grant, most of them gaining employment in the Burlington County manufacturing industry.