World Business Lenders has relocated its headquarters from Manhattan to Jersey City, bringing 225 jobs. The company provides loans to small businesses to help them grow. At a ribbon cutting ceremony, the CEO said he wants to build a lasting company and believes responsible underwriting is important. Officials hope the company's presence will help more small businesses in New Jersey.

1. World Business Lenders Wants To
Take On The World of Business
Lending, From Jersey City
July 21, 2016 I By: Sean Murry
Above, company CEO Doug Naidus poses alongside state and local community leaders for World Business Lenders' ceremonial
ribbon cutting
On the thirty third floor of the third tallest building in the state of New Jersey, World Business Lenders'
(WBL) CEO Doug Naidus spoke of another third to a crowd of several hundred people. WBL, which was
being honored by state and local politicians for moving their office to Jersey City, is Naidus' third
company. And as he put it, his final one.

2. In exchange for tax incentives, WBL will bring 225 jobs to Jersey City by the end of 2016. But the
perceived benefit to the community is two-fold, because the company itself helps other companies
grow through the loans it makes. Collateralized though they may be and different from their many
unsecured lending peers, former Congressman Ed Towns, who spoke at the event, said that what the
company does makes sense. Current Congressman Donald M. Payne Jr., who was also there,
welcomed WBL "to the right side of the river."
They were joined by Jersey City Deputy Mayor Marcos Vigil, Councilwoman Candice Osborne,
Archbishop David Billings and Mitchell Rudin, the CEO of Mack-Cali.
After the speeches and ceremonial ribbon cutting, Naidus told deBanked that he wants to build a
company that lasts, one that he can look back on and be proud of. With an average loan size of
$200,000, Naidus believes that their system is built to endure. A disbeliever in purely algorithmic
underwriting, he said that he sees a correction coming for lenders that have forsaken sound
underwriting. His premise for this belief comes from his experience in the mortgage industry, a type of
lending that has obviously had its own highs and lows.
WBL Chief Revenue Officer Alex Gemici echoed same, who said that one of their competitive
advantages is responsible underwriting and lending. "Our product is sound," he told deBanked. And
because their business model unabashedly pursues profit, they are able to redeploy capital into
marketing effectively. Compared to a company like OnDeck, Gemici explained, they can often lend
more because of collateral, but only up to what they believe a small business can afford. Their ideal
borrower is a business looking to increase their revenue, he added.
Jersey City Mayor Steven Fulop, reportedly said earlier that "helping small businesses thrive has been
one of the guiding priorities of my administration, which makes World Business Lenders' relocation to
Jersey City even more rewarding."
Fulop had recently just welcomed Fundry, one of WBL's rivals, to his city a few months earlier, who
also benefited from tax incentives. Fundry's office is only a little more than three blocks away from
WBL's 101 Hudson Street address known locally as the Merrill Lynch Building.
"The Grow NJ program was designed to help New Jersey compete with other locations that are
attractive for businesses looking to expand or relocate," said Melissa Orsen, CEO of the state's
Economic Development Authority. WBL stands to receive up to $16.8 million in performance-based tax
credits over ten years.
For employees of the company, the spectacular views from their new office seem to have convinced
them that moving from their previous headquarters just outside of Times Square in Manhattan isn't so
bad.
"We are thrilled to contribute to the growth of Jersey City as a haven for commerce," Naidus said. "We
are delighted to call Jersey City our new home."
Last modified: July 21, 2016
Sean Murray is the founder of deBanked, a 10-year veteran of the merchant cash advance industry, a casual Lending Club
and Prosper investor, the co-founder of Daily Funder, an alternative lending speaker, consultant, writer, and enthusiast.
Connect with me on Linked In or follow me on twitter.

3. From one company could come many more: Small business lending firm bringing 225 jobs from NYC NJ... Page 1 of 3
NJBIZ- njbiz.com
Banking, Finance & Accounting Government Real Estate
From one company could come many more: Small business lending firm
bringing 225 jobs from NYC
By Andrew George, July 25, 2016 at 3:00 AM
Doug Naidus, CEO, World Business Lenders addresses the gathering. -
(COURTESY GETTY IMAGES)
It's the win-win scenario the state of New Jersey dreams about.
With a ribbon-cutting ceremony atop the 33rd floor of 101 Hudson St. near Exchange Place last Wednesday night, World Business
Lenders made its move from Manhattan to Jersey City official.
It's a move officials say will bring 225 of the type of high-paying, full-time jobs that state craves by the end of the year.
The potential job creation, however, is almost unlimited.
Due to the nature of its business — lending to small businesses — company and government officials both hope the presence in
New Jersey will help more small businesses both get started and grow.
CEO Doug Naidus said the move 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," he 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."
http://www.njbiz.com/article/20160725/NJBIZ01/160729927/from-one-company-could-come-many-more 8/15/2016

4. From one company could come many more: Small business lending firm bringing 225 jobs from NYC 1NJ... Page 2 of 3
Jersey City Mayor Steven Fulop is expectedly happy to have WBL.
"Helping small businesses thrive has been one of the guiding priorities of my administration, which makes World Business Lenders'
relocation to Jersey City even more rewarding," Fu lop said in a prepared statement. "Not only will this mean 225 new jobs for Jersey
City, but we are also welcoming a company whose mission fits so well with what we're trying to accomplish."
U.S. Rep. Donald Payne Jr. (D-Newark) joked that Naidus had finally come to his senses regarding business location.
"I'm glad that he decided to come on the right side of the river," Payne said, tongue in cheek. "The correct side of the river."
Payne added that he felt it was important to not lose sight of the work WBL does, providing small businesses with the loans needed
to operate, amidst the excitement of the ribbon-cutting event.
"This business of lending really is what's needed," Payne Jr. said.
That's very much the case in New Jersey. Census numbers show the state lost nearly 10,000 small businesses from 2004 to 2014.
Bringing WBL was not easy.
The company, which was founded in 2011 in New York, has branches nationwide, with locations in Georgia, California, Connecticut,
Florida and Texas. When its lease in New York came up, Naidus said the company began looking around.
Naidus credits the state Economic Development Authority's Grow New Jersey program — which approved a 10-year, $16.8 million
award in February — for convincing him to come to Jersey City, where the company will take 35,000 square feet of space with
panoramic views of the Hudson River and Manhattan skyline.
At the time of the award approval, WBL was said to be also 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," Naidus
said. "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.
Melissa Orsen, the CEO of the EDA, said the move is an example of how the program best works.
"The Grow N.J. program was designed to help New Jersey compete with other locations that are attractive for businesses looking to
expand or relocate," she said. "We are delighted to see WBL joining the ranks of companies that recognize all that New Jersey has to
offer in terms of location and financial industry talent."
WBL may have company soon.
Earlier this month, Jersey City continued its strong record of securing EDA incentive approvals, as five potential city-based projects
were approved for over $86 million in awards.
VVBL's award also isn't the most recent approval for space at 101 Hudson St. In March, the EDA approved a 10-year, $8 million Grow
New Jersey award for the United States Fire Insurance Company to also consider occupying over 35,000 square feet there.
E-mail to: andrewg@njbiz.com
On Twitter: @andrgeorge
http://www.njbiz.com/article/20160725/NJBIZ01/160729927/from-one-company-could-come-many-more 8/15/2016

5. Lending firm leaves Manhattan, cuts ribbon on new Jersey City headquarters 1NJBIZ Page 1 of 3
NJBIZ- njbiz.com
Banking, Finance & Accounting Government Real Estate
Lending firm leaves Manhattan, cuts ribbon on new Jersey City
headquarters
By Andrew George, July 21, 2016 at 11:37 AM
Officials formally cut the ribbon on World Business Lenders' new headquarters in
Jersey City. - (BENNETT RAGLIN/GETTY IMAGES FOR WORLD BUSINESS
LENDERS)
After securing the approval for a 10-year, $16.8 million Grow New Jersey award from the Economic Development Authority in
February, small business lending firm World Business Lenders has formally 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.
Founded in 2011 in New York, WBL offers branches nationwide, with locations in Georgia, California, Connecticut, Florida and
Texas.
CEO Doug Naidus said the move 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.
http://www.njbiz.com/article/20160721/NJBIZ01/160729954/1ending-firm-leaves-manhattan-cuts-ribbon-on... 8/15/2016

6. Lending firm leaves Manhattan, cuts ribbon on new Jersey City headquarters1NJBIZ Page 2 of 3
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 VVBL's relocation will yield a net benefit of over $85 million back to the state over 20 years.
"The Grow N.J. program was designed to help New Jersey compete with other locations that are attractive for businesses looking to
expand or relocate," EDA CEO Melissa Orsen said. "We are delighted to see WBL joining the ranks of companies that recognize all
that New Jersey has to offer in terms of location and financial industry talent."
With Manhattan clearly visible from the podium at Wednesday's event, U.S Rep. Donald Payne Jr. (D-Newark) joked that Naidus
had finally come to his senses regarding business location.
"I'm glad that he decided to come on the right side of the river," Payne Jr. said, tongue-in-cheek. "The correct side of the river."
Payne Jr. added that he felt it was important not to lose sight of the work WBL does, providing small businesses with the loans
needed to operate, amidst the excitement of the ribbon cutting event.
"This business of lending really is what's needed," Payne Jr said.
Fulop, in a statement, said WBL was "a great addition to our Jersey City business community."
"Helping small businesses thrive has been one of the guiding priorities of my administration, which makes World Business Lenders'
relocation to Jersey City even more rewarding," Fu lop said. "Not only will this mean 225 new jobs for Jersey City, but we are also
welcoming a company whose mission fits so well with what we're trying to accomplish."
Earlier this month, Jersey City continued its strong record of securing EDA incentive approvals, as five potential city-based projects
were approved for over $86 million in awards.
WBL's award also isn't the most recent approval for space at 101 Hudson St. In March, the EDA approved a 10-year, $8 million Grow
New Jersey award for the United States Fire Insurance Company to also consider occupying over 35,000 square feet there.
More From This Industry
• Colliers negotiates industrial lease in Monroe Twp.
• WCRE represents law firm in Class A office space lease
• Lakeland Bank appoints SVP
• - New frontiers: New Jersey banks find growth opportunities in diverse, once-overlooked markets of South Jersey
Andrew George
Follow @AndrGeorge
Andrew George covers the Statehouse from NJBIZ's Trenton bureau. Born and raised in N.J., Andrew
has also spent time as a reporter in D.C., Texas and Pa. His email is andrewg@njbiz.com.
http://www.njbiz.com/article/20160721/NJBIZ01/160729954/1ending-firm-leaves-manhattan-cuts-ribbon-on... 8/15/2016

7. Small business lender opens HQ in Jersey City
Doug Naidus, CEO of World Business Lenders, holds the scissors that will cut the ribbon
during the ceremony celebrating the relocation of WBL's corporate headquarters to 101
Hudson Street in Jersey City on Wednesday, July 20, 2016.
By Patrick Villanova I The Jersey Journal
on July 26, 2016 at 4:42 PM
World Business Lenders, a small business lending company, has officially joined the Jersey
City economy.

8. Founded in 2011, the financial services company held a ribbon-cutting ceremony at its new
headquarters in Jersey City last week. The move is expected to create 100 new jobs by the
end of the year, in addition to the 115-plus employees who made the move from New York.
U.S. Rep. Donald M. Payne Jr., of New Jersey's 10th Congressional District, Jersey City
Councilwoman Candice Osborne, and former U.S. Rep. Ed Towns joined company officials for
the ceremony Wednesday at 101 Hudson St.
2 N.Y. companies awarded $22 million in tax breaks to move to Jersey City
Two New York companies have been awarded a total of more than $22 million in tax breaks
to move to Jersey City, the state Economic Development Authority announced
WBL provides working capital to small businesses, and unlike banks, it looks at the overall
health of a business to provide financing to business owners with less than perfect credit.
WBL's relocation to New Jersey was supported by a Grow New Jersey award approved by the
New Jersey Economic Development Authority (NJEDA), which offers tax credits of up to
$16.8 million over 10 years. According to the company's Grow New Jersey application, it
would receive just under $17 million in tax credits over 10 years.