Cumberland County Empowerment Zone

Jeannine MacDonald, Executive Director
275 N. Delsea Drive, 2nd Floor
Vineland, NJ 08360
Phone: (856) 696-5660 ext. 204
Fax: (856) 690-1481
www.cezcorp.com

Bridge Financing Program Business Loan Program Microloan Program Cumberland EZ Loans Vineland UEZ Loans
Eligible Borrowers: Businesses located within the Cumberland County Empowerment Zone that have a commitment for a long-term financing and need bridge financing. Business located within the Cumberland County Empowerment Zone. Small businesses or business start-ups located within the Cumberland County Empowerment Zone.  Certified Vineland UEZ businesses.
Existing businesses or business start-ups are eligible.
Loan Amount: Up to $500,000 with a commitment for permanent financing. Up to 40% of the total project costs with a maximum loan amount of $250,000.
Amount of EZ funding is determined by ability to utilize public/private funding sources and gap in financing.
Loans are also based on jobs created.
Up to $35,000
Bank participation is not required.
Up to $125,000
Start-ups are eligible for maximum loan of $35,000.
For loans above $35,000, amount of funding is determined by ability to utilize other public/private funding sources and gap in financing.
Estimated Interest Rate: For more information, please call (856) 459-1700. For more information, please call (856) 459-1700. For more information, please call (856) 459-1700. For more information, please call (856) 459-1700.
Terms: Up to 2 years interest only 5 year balloon with amortization based on useful life of asset financed, or fully amortized loans up to a maximum of 15 years (also dependent upon life of asset). Up to 7 years subject to useful life of asset. Up to 25 years subject to the nature of the project and useful life of the asset.
Permitted Uses: Real estate acquisition and pre-development expenses. Acquisition of land and buildings, new construction, renovations, machinery, equipment and working capital.
Funds cannot be used to refinance existing debt.
Working capital, inventory, supplies, furniture, fixtures, machinery and/or equipment.
Funds cannot be used to purchase real estate or refinance existing debt.
Inventory, supplies, machinery, equipment, acquisition of land and buildings, new construction, renovations and working capital.
Funds cannot be used to refinance existing debt.
Application Fee: $250 application fee.
1% servicing fee paid at closing.
$150 application fee, plus 1% servicing fee paid at closing. $100 application fee
1% servicing fee paid at closing.
$100 application fee.
1% servicing fee paid at closing.
Other Special Requirements: 3 years financial statements.
3 years tax returns.
Personal financial statement.
Applicants required to provide at least 10% equity contribution to the project.
3 years financial statements.
3 years tax returns.
Personal financial statements.
A minimum of 10% is required; however, use of funds determines the amount required.
Personal financial statement
3 years business financial statements
3 years tax returns
New businesses to submit business plan in lieu of business financial statements.
A minimum of 10% is required; however, use of funds determines the amount required.
Personal financial statement
3 years business financial statements.
3 years tax returns.
New businesses to submit business plan in lieu of business financial statements.
Applicant must be certified UEZ business.
Loan conditioned upon receipt of satisfactory tax clearance from the State of New Jersey.