Small Business Services

Microlenders and Community Development Financial Institutions (CDFIs)

Through the Loans to Lenders component of the Fund for Community Economic Development, EDA makes capital available to financial intermediary organizations who can effectively reach small businesses in local markets, including micro-lenders and CDFIs. These organizations have the ability to offer term loans and lines of credit to micro-enterprises and small businesses not qualified for traditional bank financing.

Small businesses who are in need of a microloan are encouraged to click on the links below or navigation on the left to learn more about financing through these organizations.

UCEDC - a statewide, not-for-profit economic development corporation dedicated to assisting and financing small businesses and minority- and women-owned enterprises. Access to capital is often a small business owner’s greatest challenge and UCEDC offers a variety of financing options when conventional lending sources are not available. With loans ranging from $500 to $5 million, including microloans, SBA 7a, and SBA 504 loans, UCEDC will work with start-up and established businesses to find the right financing solution.

Cooperative Business Assistance Corporation (CBAC) - CBAC is a non-profit, public-private partnership created in 1987. Established to encourage the growth and stability of the small business sector, CBAC facilitates opportunities for banks to make business loans in the City of Camden, New Jersey, Philadelphia, Pennsylvania, and the six counties located in Southern New Jersey. CBAC offer loans to businesses for as little as $1,000 to as much as $2,000,000 through various loan and guaranty programs.

Greater Newark Enterprises Corporation (GNEC) - GNEC provides financial assistance and training to small businesses, businesses owned by women, low-income individuals, and minorities for the purpose of encouraging entrepreneurship.

New Jersey Community Capital (NJCC) - New Jersey Community Capital is a 501(c)(3) nonprofit CDFI that provides innovative financing and technical assistance to organizations that support housing and sustainable community development ventures that increase jobs, improve education and strengthen neighborhoods. NJCC offers loan capital that is broader than bank lending to results-oriented, socially responsible organizations that are committed to creating positive change in low-to-moderate income communities throughout New Jersey.

Regional Business Assistance Corporation (RBAC) - RBAC is a private non-profit organization formed in 1981 to provide loans to both new and existing small businesses in New Jersey.  RBAC's mission is to provide loan capital and business mentoring to small business owners that cannot access more conventional bank financing.  All RBAC loan programs can be, and often are used in partnership with other lenders for larger loan amounts.

Technical Assistance Partners

In addition to the millions of dollars in funding EDA administers as loans and loan guarantees to New Jersey small businesses, EDA also partners with several organizations that provide a wide array of services to New Jersey small businesses and entrepreneurs.

Expert staff at these organizations provide support and guidance in a variety of areas including: technical assistance, mentoring/coaching, financing, government contracting assistance, technology commercialization and international trade facilitation. Our partners offer focused outreach to minority- and women-owned businesses and many of their programs are free of charge.

We encourage you to explore how your business can benefit from these services. Click on the links below or in the navigation at the left to learn more.

UCEDC - UCEDC offers intensive six-week workshops throughout the year at various locations in New Jersey, with curriculum tailored specifically to start-ups or established businesses. Start-up entrepreneurs are guided through a personal business-readiness assessment and the basics of starting a business in New Jersey. Owners of established businesses are helped to challenge their status quo and bring their operations to the next level.

New Jersey Small Business Development Centers (NJSBDC) - The NJSBDC network, comprised of 11 centers across the state, provides comprehensive services and programs for small business in New Jersey. NJSBDC expert staff and practicing business consultants help established small business owners and aspiring entrepreneurs to develop business plans and marketing strategies, learn accounting and financial analysis, find capital financing, identify new markets, and expand their operations. NJSBDC provides one-to-one management consulting and counseling, training, loan packaging services and specialized assistance in procurement, technology commercialization, E-Business presence, and international trade.