Grow Your Business Today - 0% Interest Loan Program

Mercer County + UCEDC

Details:

- Loans will be offered at 0% interest, with a five-year repayment term

- Loans will range from $10,000 to $20,000

- Funds can be used for working capital, inventory, or purchases of furniture and equipment

- No collateral requirements, pre-payment penalties, processing, closing or application fees

Requirements:

- Businesses must be located in Mercer County, registered with the State of New Jersey and have been formed on or before September 1, 2019

- Businesses must have 30 or fewer full-time equivalent employees at time of application and have less than $10 million in annual gross revenue based on most recent tax return

- Personal guarantees of the significant owners of the business (10% or greater) are required

- Applicants must not have had a bankruptcy or significant charge-offs within the most recent 3-year period

- Applicant must be seeking funds to recover from financial loss due to COVID-19