UCEDC Offers 0% Working Capital Loans for COVID-19 Crisis Relief

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In this phase of the COVID-19 Crisis, UCEDC is offering a low-interest, quick-response, working capital loan program.  Small business owners can borrow up to $15,000 at 0% for up to five years with no collateral requirements to meet their COVID-19 crisis needs.

The Crisis Relief Loan Program is designed to provide broad access to much-needed working capital.  The program features a quick turnaround (after completing the application requirements), no collateral requirements, no pre-payment penalties, and no processing or application fees.

Eligibility Requirements Include:

-Businesses operating at least two years and with a credit score of 660 and up are eligible to apply for up to $15,000

-Businesses operating prior to 3/21/20 but less than two years, or with a credit score between 630-659 are eligible to apply for up to $10,000

-No loan or credit card charge–offs within 3 years

-Business must be located in New Jersey

Application Requirements:

-Personal guarantees of all owners with more than 10% ownership interest, with the following documentation for each guarantor:

Completed UCEDC Loan Application for each guarantor
Copy of driver’s license
Personal cash flow statement
Personal financial statement
Most recent personal tax return

-2019 and 2020 complete business tax returns, and 2021 interim financials (if available). If 2020 tax returns are on extension, please provide a copy of the extension and 2020 financials


To start the process, please fill out their Loan Pre-Qualification Form or speak to one of their loan officers at 908-527-1166.