Mercer County 0% Business Loans
Apply now; funds are limited!
In partnership with the UCEDC, Mercer County Office of Economic Development created the 0% Interest Loan Program for Mercer County small businesses.
Dedicating $350,000 in American Rescue Plan Act (ARPA) dollars, the program allows Mercer County businesses to apply for affordable access to capital. The UCEDC provides loans on a first-come, first-served basis utilizing current lending products and capital.
Specifically, the program will require the following:
- 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.
- Loans will range from $10,000 to $20,000.
- Loans will be offered at 0% interest, with a five-year repayment term.
- 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.
- 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.
- Minimum FICO 630
Below you will find the program details along with a link to the pre-application.
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