ContactsNewark Camden Washington, DC Latest Photos...
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ECONOMIC DEVELOPMENT AND SMALL BUSINESSEconomic Development Assistance GrantFunding: $150 million Administrator: U.S. Economic Development Administration (EDA) Description: Funding will be disbursed through EDA’s six Regional Offices in the form of grants to states, local government entities and eligible non-profits to create jobs, general private sector investment by promoting comprehensive, entrepreneurial and innovation-based economic development efforts. Web site: http://www.eda.gov/InvestmentsGrants/FFON.xml Additional Contact: Edward Hummel, Regional EDA office for New Jersey
Micro-Loan ProgramFunding: $30 million Administrator: U.S. Small Business Administration Description: Funds will go for small loans to start-up, newly established, or growing small business concerns. Funds are available to nonprofit community based lenders which, in turn, make loans to eligible borrowers in amounts up to a maximum of $35,000. The average loan size is about $13,000. Web sites: 7(A) Loan Guarantee ProgramFunding: $375 million Administrator: U.S. Small Business Administration Description: To ensure small businesses maintain have access to 7(a) loans that may be used to establish a new business or to assist in the operation, acquisition or expansion of an existing business. Web sites: 504 Loan ProgramAdministrator: U.S. Small Business Administration Description: Funds will go to ensure small businesses maintain adequate access to 504 loans for fixed asset projects. 504 loans may be used for purchasing land and improvements, including existing buildings, grading, street improvements, utilities, parking lots and landscaping; construction of new facilities, or modernizing, renovating or converting existing facilities; or purchasing long-term machinery and equipment. Web sites: Business Stabilization ProgramFunding: $225 million Administrator: U.S. Small Business Administration Description: Funds will go to provide loans on a deferred basis to viable small business concerns that have a qualifying small business loan and are experiencing immediate financial hardship. Web sites:
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