2020 SMALL BUSINESS SUCCESS AWARDS — NJSBDC | 15 2020 Small Business Awardee NJSBDC AT NEW JERSEY CITY UNIVERSITY Caven Point Car Center, Inc. Charlie and Tommy Senatore 758 Garfield Ave. Jersey City, NJ 07305 201-240-4767 Charlie and Tommy Senatore are brothers, but if you ask them, they would tell you they are much more than siblings. They would say that they are a product of a love story, filled with entrepreneurial spirit and passion for hard work. Their story begins with their mother, Antoinette, who was born in 1921. She emigrated from Calabria, Italy, to Jersey City, where she found a job working as a seamstress. She met her husband, Joseph Senatore, who was born in Jersey City. He owned a grocery store selling fruit, vegetables and meat. The Senatore brothers at an early age worked at the family store and also started a side hustle selling wooden clothes poles. They traveled to South Jersey to buy the poles, shape the raw timber, and install them in homes throughout the Hudson County area. After their parents retired, Charlie helmed the family business and continued operations. Both brothers earned accounting degrees from then Saint Peters College, with Charlie receiving an additional degree in economics. In 1986, they closed the family grocery store and looked forward to new ventures. Two years later, the brothers purchased their first gas station on Garfield Avenue which today operates as T and C Investments, LLC. The brothers worked long hours seven days a week. Ten years later, they opened a second business location in Hoboken. In 2001, they built a hand car wash, creating jobs. The Senatore brothers have operated under various franchises such as Amoco, Exxon and currently Valero service stations. Charlie and Tommy established another business, Liberty Aggregate, LLC, making aggregate for construction by crushing and processing excavated virgin rock. Their aggregate supplies development sites throughout Jersey City for both governmental and commercial use. In 2015, the brothers acquired property to engage in multi-unit residential development in Jersey City. During Hurricane Sandy, their gas station was chosen as the supplier of gasoline for municipal police, fire and rescue vehicles in Jersey City, becoming a resource to help the community. The COVID19 pandemic caused a significant business slowdown for obvious reasons. Prior to the pandemic, the business owners sought advice from NJSBDC at New Jersey City University (NJCU). With NJSBDCs assistance, they began planning business revitalization. The regional SBDC assisted them with loan and document evaluation services and choosing a qualified lender with the most favorable terms. Even as the loan process slowed during the pandemic, they were able to successfully obtain a $1.5 million refinance loan from SB One Bank. This enabled them to retire old high interest debt, thereby stabilizing their business for future growth. The loan refinance resulted in a total capital infusion of $4,528,076. With the guidance from the NJSBDC at NJCU, the business applied for and received $10,000 from the SBA EIDL Advance; $63,105 from the SBA Paycheck Protection Program (PPP); and $20,000 from the JCEDC CARES Grant Small Business Awards. These leveraged funds helped the business to retain ten gas station employees and eight at their stone crushing facilities. They are grateful to the NJSBDC at NJCU, their parents, family, friends, and customers and share their success by anonymously supporting local civic and charity organizations to give back to the community. 2012029 v2 NJSBDC 2020 Awards Book_TEXT.indd 13 12/10/20 3:24 PM
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