JERSEY CITY – Small business lending firm World Business Lenders has left Manhattan for New Jersey, cutting the ribbon Wednesday on its new corporate headquarters in Jersey City atop the 33rd floor of 101 Hudson St. near Exchange Place. WBL’s new office features more than 35,000 square feet of space with panoramic views of the Hudson River and Manhattan skyline, according to a report in njbiz.com.
Founded in 2011 in New York, WBL has branches in Georgia, California, Connecticut, Florida and Texas.
CEO Doug Naidus was quoted as saying the move, which came after securing the approval for a 10-year, $16.8 million Grow New Jersey award from the Economic Development Authority (EDA) in February, will help the company realize some of the “bold ambitions” he has for its future.
“World Business Lenders is committed to enhancing the vitality and sustainability of small businesses across the country, and we are thrilled to contribute to the growth of Jersey City as a haven for commerce,” Naidus said. “By continuing to increase jobs, we are enthusiastic about growing our company while adding to the momentum of this tremendous city. We are delighted to call Jersey City our new home.”
As part of its relocation, WBL plans to bring 225 full-time jobs to Jersey City by the end of the year and says it is actively working with Mayor Steven Fulop’s administration to address the needs of local small businesses.
The company credits the EDA steering it across the river. At the time of the award approval, WBL was said to also be considering an alternative site in Queens.
“The end of our lease in Manhattan presented an opportunity to explore other options to accommodate our rapid growth,” said Naidus. “The Grow N.J. program helped to make moving to New Jersey possible. We are excited for the company’s next chapter here in this sophisticated, ideally-situated city.”
The EDA estimates that WBL’s relocation will yield a net benefit of over $85 million back to the state over 20 years.
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