UNION COUNTY ECONOMIC DEVELOPMENT CORP
75 CHESTNUT STREET, CRANFORD, NJ 070162937 www.ucedc.com

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Organizations Filed Purposes: PROMOTE & DEVELOP ECONOMIC GROWTH IN NJ, BY PROVIDING FINANCIAL AND TECHNICAL ASSISTANCE TO SMALL BUSINESS.

PROMOTE & DEVELOP ECONOMIC GROWTH IN NJ

FINANCIAL ASSISTANCE PROGRAM:UCEDC'S MICROLOAN PROGRAM PROVIDES BOTH START-UP AND EXISTING BUSINESSES WITH AN OPPORTUNITY TO BORROW MONEY FOR A VARIETY OF REASONS, INCLUDING PURCHASING EQUIPMENT, FIXTURES OR INVENTORY; WORKING CAPITAL; OR MAKING RENOVATIONS ON PRIVATELY OWNED COMMERCIAL REAL ESTATE. START-UPS (OPERATIONAL FOR LESS THAN TWO YEARS) CAN BORROW A MAXIMUM OF $35,000 FOR UP TO SIX YEARS. OLDER BUSINESSES WITH A PROFITABLE OPERATING HISTORY ARE ELIGIBLE FOR UP TO $50,000 FOR THE SAME TIME PERIOD. INTEREST RATES VARY FROM 2% TO 9.25%, DEPENDING ON THE AGE AND FINANCIAL OPERATIONS OF THE BUSINESS AND THE OWNER'S CREDIT HISTORY. [SEE CONTINUATION ON SCHEDULE O]CLOSING FEES APPLY, BUT YOU MAY PREPAY WITHOUT PENALTY.UCEDC IS ONE OF ONLY 40 LENDERS IN THE NATION TO OFFER THE SBA (7A) FINANCING PROGRAM, DESIGNED TO ENCOURAGE BUSINESS GROWTH AND JOB CREATION. LONG-TERM LOANS OF UP TO $250,000 ARE AVAILABLE TO START-UP (IN OPERATION LESS THAN TWO YEARS) AND EXISTING BUSINESSES.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. INTEREST RATES ARE BASED ON THE AMOUNT OF THE LOAN AND LENGTH OF THE LOAN DEPENDS ON THE USE OF THE FUNDS.THE SBA 504 PROGRAM PROVIDES GROWING BUSINESSES WITH THE OPPORTUNITY TO PURCHASE, CONSTRUCT OR IMPROVE THEIR OWN BUILDING OR PURCHASE MAJOR EQUIPMENT THROUGH LONG-TERM, BELOW-MARKET FIXED RATE FINANCING. 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 40% OF THE TOTAL (UP TO $5 MILLION), WITH 10-20 YEAR TERMS.

TECHNICAL ASSISTANCE PROGRAM: UCEDC OFFERS A WIDE VARIETY OF EDUCATIONAL PROGRAMS DESIGNED TO HELP SMALL BUSINESSES TO START, GROW AND THRIVE. WHETHER YOU'RE A BUSINESS BEGINNER, NEED A REFRESHER IN THE BASICS, OR ARE LOOKING FOR A MORE INTENSIVE EXPERIENCE, WE HAVE THE TRAINING SESSIONS TO FIT YOUR NEEDS.BUSINESS BASICS- THESE FREE TWO-HOUR WORKSHOPS ADDRESS A VARIETY OF BUSINESS CONCERNS FOR BOTH START-UP ENTREPRENEURS AND ESTABLISHED BUSINESS OWNERS. [SEE CONTINUATION ON SCHEDULE O]THEY ARE OFFERED THROUGHOUT NEW JERSEY, OFTEN IN COOPERATION WITH PARTNER ORGANIZATIONS AND AGENCIES THAT SHARE OUR COMMITMENT TO SMALL BUSINESS GROWTH. ENTREPRENEURIAL TRAINING INITIATIVE (ETI)-THIS INTENSIVE SIX-WEEK TRAINING PROGRAM IS OFFERED IN PARTNERSHIP WITH THE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY (NJEDA). WITH SESSIONS TARGETED SPECIFICALLY TO START-UPS AND ESTABLISHED BUSINESSES, YOU'LL GET THE HELP YOU NEED, BOTH IN THE CLASSROOM AND OUT, TO SURVIVE AND THRIVE IN ANY ECONOMY.BUSINESS MENTORING-UCEDC LOAN CLIENTS AND ETI GRADUATES RECEIVE FREE INDIVIDUALIZED BUSINESS COUNSELING. YOUR UCEDC BUSINESS MENTOR IS YOUR BOARD OF DIRECTORS, CFO, AND MARKETING MANAGER, ALL ROLLED INTO ONE. YOUR MENTOR MEETS WITH YOU AT YOUR CONVENIENCE, ACTS AS YOUR SOUNDING BOARD, AND OFFERS FEEDBACK, ADVICE AND SUGGESTIONS TO KEEP YOUR BUSINESS ON TRACK.

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