JUNE 10, 2010: Loan Program in Action: The Perfect Prescription
The Hudson County Economic Development Corporation recently facilitated a small business loan for Wise Vision & Hearing of Hoboken. The $60,000 loan, provided in partnership with Bayonne Community Bank, will assist Wise in expanding their business here in Hudson County.
Pictured (left to right): Freeholder Anthony Romano, HCEDC Executive Director Elizabeth Spinelli, Hudson County Executive Tom DeGise; Rueben Henriquez, Owner of Wise Vision & Hearing; Gabriel Gasior, Assistant VP Bayonne Community Bank; Joseph Manuele VP & Branch Manager Bayonne Community Bank; and Jack Belton, HCEDC Loan Officer.
Do you need a loan? Looking to grow your business?
The Business Loan Program provides below-market funding to small businesses. These loans are blended to the Prime Rate. Loans vary between $25,000 and $100,000 and may be used for working capital, purchase of inventory, machinery/equipment, and building acquisition and expansion. Repayment terms are flexible and can range to a maximum of ten years. We have originated more than $3 million in loans to local businesses.
Our Loan Coordinator Jack Belton will be happy to visit your company and answer any questions you may have. Simply fill out the form below to begin getting more information.
New MicroLoan Program
We now offer a MicroLoan Program that provides loans to commercial enterprises with five or fewer employees. Call us to learn if your company is eligible. Loans can range from $5,000 to $25,000. These loans are available to businesses in Bayonne, East Newark, Guttenberg, Harrison, Hoboken, Kearny, North Bergen, Secaucus, Union City, Weehawken, and West New York. Application fees apply.
Bonding is also available through the Economic Development Corporation. Contact us for details.