Loan Products

Access to capital is often a business owner’s largest hurdle. We fund a variety of small business loans to meet your needs at every stage of your business’s growth. With loans from $5,000 to $5.5 million*, our staff will work to find the solution that’s right for you.


(format loan amount as 25000, not $25,000)

Interest rate:

Our interest rates provide you with a fair, affordable way to succeed. You’ll be assigned a rate between 5.25% and 8.25% (as low as 3.25% for women-owned businesses!) based upon a number of factors:

  • Size of the loan
  • Age of the business
  • Financial performance of the business
  • Owner’s personal credit history
  • Owner’s industry experience

Your monthly payment may be more affordable than you think. Use our simple Loan Payment Calculator to test different loan amounts (format as 25000, not $25,000), interest rates (format as 7.0, not 7.0%), and payoff periods. 

And our support doesn’t end at the loan closing – UCEDC staff will provide ongoing business mentoring services to help you keep on track. This one-on-one business counseling is entirely customized to meet the specific challenges and opportunities you face.

*UCEDC’s maximum portion of a 504 loan combined with bank partner financing can support projects as large as $20 million or more.

Click on a link below for a specific loan product or just scroll down to see all of our financing options.

Microloans – up to $50,000

UCEDC’s Microloan Program offers fixed-rate (5.25% – 8.25%, rates as low as 3.25% may be available for women-owned businesses), 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 businesses 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 privately owned commercial real estate.

Check out our special limited-time microloan offers

Loan Sale for Women Business Owners:  get a two-point discount on your interest rate.  Learn more.

Rapid Response Loan Program: borrow up to $10,000, no collateral required, with a decision in two days or less!  Learn more.

Prime Lock Loan Program:  lock in your prime interest rate for five years, no collateral required, up to $25,000.  Learn more.

Your monthly payment may be more affordable than you think!  CHECK HERE.

Monthly Payment, based on a six-year term

Amount 5.0% 7.0% 8.0% 9.0%
$15,000  $241.57  $255.74 $263.00 $270.38
$20,000  $322.10 $340.98 $350.66 $360.51
$30,000  $483.15 $511.47 $526.00 $540.77
$40,000  $644.20 $681.96 $701.33 $721.02
$50,000  $805.25 $852.45 $876.66 $901.28

Use our Loan Payment Calculator to get a precise result for your specific loan terms.

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

UCEDC is one of a select group of lenders in the nation to provide this financing program, designed to encourage business growth and job creation.  Our 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 in New Jersey, NYC, and certain areas of NY and PA and feature flexible collateral requirements.  Interest rates are Prime + 1% – 3%, with as little as 10% down.

Funds can be used for a wide variety of purposes, including working capital; furniture/fixtures, machinery and equipment; land acquisition for commercial purposes; construction or renovation for privately owned commercial properties; leasehold improvements; and business acquisition.

Learn more and apply!

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SBA 504 Commercial Real Estate and Major Equipment Loans – up to $5 million

This program provides start-up and established New Jersey businesses with the opportunity to purchase, construct or improve their own building or purchase major equipment through long-term (10-25 years), fixed-rate financing (current rates are less than 4%!).

UCEDC works in partnership with commercial lenders to structure financing that typically calls for only a 10% contribution from the borrower.  Soft costs and closing costs can be rolled into the loan, maximizing cash flow that can be invested back into the business.

UCEDC’s portion of the financing represents a maximum of $5.5 million or up to 40% of the total transaction, with 10-25 year terms. UCEDC and partner bank financing can support projects as large as $20 million or more!

Learn more and apply!

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Child Care Loans

UCEDC’s ‘First Steps’ child care loan program provides short-term loans to both home and center-based child care operations in New Jersey, including centers operated by non-profit organizations. Funding is available for both start-up and existing centers. Funds may be used for supplies or equipment; staff training or conferences; health and safety needs; specialized curriculum, such as High Scope; expansions or renovations to non-leased property; or a portion of working capital.

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