Loan Programs

3% Working Capital (up to $25,000)

Well-qualified borrowers (profitable businesses at least 3 years in operation and good personal credit) are eligible for up to $25,000 at 3% fixed for five years. No collateral is required and there are no prepayment penalties.

Microloans (up to $50,000)

The Microloan Program offers fixed-rate (5.0% – 9.5%), six-year loans with as little as 10% down for start-up and existing businesses.  Businesses in operation for less than two years can borrow a maximum of $35,000; older business with a profitable operating history are eligible for up to $50,000.  There are no prepayment penalties.

Community Advantage 7a (up to $250,000)

Long-term loans (10-20 years) of up to $250,000 are available to start-up (in operation less than two years) and existing businesses and feature flexible collateral requirements.  Interest rates are Prime +3% – 4%, with as little as 10% down.

504 Commercial Real Estate (up to $5 million)

This program provides start-up and established businesses with the opportunity to purchase, construct or improve their own building or purchase major equipment through long-term (10-20 years), fixed rate financing (current rates are approximately 5%). Borrowers can put as little as 10% down.

Get started today!

You can learn more about our loan programs by visiting UCEDC’s website. If you have any questions, please call UCEDC at 908-527-1166.

If you’re ready to get started, complete the quick Loan Pre-Qualification Application. The information you provide on this secure form will help us to assess your eligibility and recommend the right financing option for you.

You will hear from UCEDC within two business days of your application. If appropriate, you will be asked to complete a full application and provide additional documentation.

We want you to succeed.

In addition to our loan programs, we have access to Federal, State and local resources and services and can put you in touch with the right people. Contact the Hudson County EDC lending and technical assistance manager at (201) 369-4300 extension 2 or at