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Small Business Loan Program - BCBridges

SMALL BUSINESS RESOURCES

Make Your New or Existing Business Successful

The free program, “Resources for Starting and Growing Your Business” was held Wednesday, June 5th at Rowan College at Burlington County. Sponsored by the Burlington County Freeholders and Burlington County Bridge Commission, this program featured 9 knowledgeable speakers that addressed the topics below (to access presentations, click on titles shown):  

Get Guidance on Where to Begin

Erika Pearson  Lender Relations Specialist,
US Small Business Administration (SBA)

Know Your Market

Joan Divor  Business Librarian/Coordinator of Community Partnerships, Burlington County
Library System

Forming Your Business

Wade Hale Deputy County Clerk, Burlington County
Abra M. Watson  NJ Division of Taxation

Business Planning

Robert Palumbo, MBA Director, NJ Small Business Development Center at Rutgers University-Camden

Knowing the Law

Rudi Grueneberg, Esq.  Grueneberg Law Group, Marlton

Building a Business Network

Kristi Howell  President/CEO, Burlington County Regional Chamber of Commerce

Finding Employees and Training Them    

Leah Arter  Business Development Administrator, Rowan College at Burlington County Workforce Development

Procuring Funds to Get Off the Ground
and Grow

Mark Remsa  Director, Economic Development & Regional Planning, Burlington County Bridge Commission

Small Business Loan Program

The Burlington County Small Business Loan Program offers low-interest loans for small businesses, including start-ups and entrepreneurs, located anywhere in Burlington County.  Funds for this program were received from the United States Economic Development Agency and available in one of three forms:  fixed asset loan, working capital, or direct loan.  Fixed asset and working capital loans fund up to $200,000 in the form of gap financing that requires bank participation.  Direct loans fund up to $50,000 and do not require bank participation.

All small business loans carry no penalty for early payoff. The term for most loans is 10 years and in some instances may be 15 years. The interest rate for all loans is 75% of the prime interest rate. The rate at the time of application is a fixed rate; the loan remains at that rate for the loan duration. The only fee charged is a non-refundable $200 to be submitted with an application.

Loans are required to promote at least one of the following economic development goals:  (1) Create and retain permanent private-sector jobs within 18 months of loan funding, (2) Provide entrepreneurial opportunities for qualified individuals, (3) Stimulate private sector investments in physical plant and equipment for local small businesses, (4) Encourage the increase of available funds for local small businesses by leveraging state and private sector funds to maximum levels, (5) Stimulate balanced development.

Small Business Lenders Forum

More than 50 interested small business owners from Burlington County attended the free Small Business Lenders Forum held on Thursday, March 28 from 9-11 AM at the Burlington County Library Auditorium in Westampton.

Sponsored by the Burlington County Board of Chosen Freeholders and Burlington County Bridge Commission, the event began with welcoming remarks from Freeholder Director Tom Pullion and Freeholder Felicia Hopson.  Brief presentations by 14 area lenders followed, during which they shared specifics of their commercial lending programs.  Following the presentation, small business owners had the opportunity to speak with the presenters and gather important information from lenders’ stations in the lobby.

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Images Courtesy of Burlington County Library System

Program For Small Business Lenders Forum
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Welcome Freeholders Tom Pullion
& Felicia Hopson
County Economic Development Manager Dave Wyche
BB&T Bank Anthony Fleming
Columbia Bank Darrin Gould
Cooperative Business Assistance Corporation Harry Stone
First Bank NJ Brett Lawrence
First Commerce Dan Jackson
Fulton Bank of NJ Lisa Viscusi
Investor’s Bank Chris Warren
M&T Bank Chris Sylvia
Ocean First Chris Livingston
Republic Bank Pedro Figueroa and Amy Travetti
Santander Bank Heather Hiltebeitel
Small Business Administration Erika Pearson
TD Bank Carl Willers

SMALL BUSINESS LOAN PROGRAM

for a comparison of loans and terms

SMALL BUSINESS APPLICATION

(Direct Loan up to $50k)

OTHER LOANS AVAILABLE

Business Resource Tables
  • The African American Chamber of Commerce of New Jersey
  • Burlington County Bridge Commission’s Economic Development & Regional Planning
  • Burlington County Clerk’s Office
  • Burlington County Library System
  • Burlington County Regional Chamber of Commerce
  • Gruenberg Law Group
  • Latin American Economic Development Association
  • National Association of Women Business Owners
  • NJ Business Action Center
  • NJ Division of Taxation
  • NJ Economic Development Authority
  • NJ Small Business Development Center at Rutgers University-Camden
  • Rowan College at Burlington County Workforce Development
  • SCORE
  • US Small Business Administration