Microloans

Loan Products

UCEDC’s Microloan Program offers fixed-rate (between 5.0% – 7.75%) up to six-year loans with as little as 10% down for start-up and existing businesses in New Jersey, NYC and certain areas in NY and PA.

Businesses in operation for less than two years can borrow a maximum of $35,000; established business with a profitable operating history are eligible for up to $50,000.  There are no pre-payment penalties.

Microloan funds can be used for a broad array of business purposes, including purchasing equipment, fixtures or inventory; working capital; or making renovations on your owned commercial real estate that houses your business.

NOTE: SBA Microloans may not be used to purchase any real estate or for any improvements to any property that does not house your business.

Think you’re ready to apply?

Our tips and checklists will get you started on building a strong application. You’ll learn what business basics must be in place before applying and the documentation you need to support your case.

Loan Checklist