Areas Served: Camden, Gloucester, Salem, Cumberland, Atlantic, Cape May counties
Fixed Asset Loans are available to businesses with at least two years of positive operating experience located in Southern New Jersey.
Loans up to $500,000 are available.
These loans have up to a twenty year term, and have a fixed rate of interest set on a deal by deal basis.
CBAC requires that for every dollar it lends, the borrower leverages an additional two dollars.
The leveraged portion generally comes from other lenders, the borrower’s bank of account, and the New Jersey Economic Development Authority (NJEDA).
All loans are personally guaranteed by the owners, and the lenders take the best available collateral.
CBAC’s loans are subordinated to the other lenders.
Borrowers may use these funds for permanent mortgages for commercial real estate acquisition, repairs, equipment purchases, and up to 25% may be used for working capital.
Contact InformationCooperative Business Assistance Corporation
Address: 328 Market Street
City: Camden
State: New Jersey
Website:
http://www.cbaclenders.com/loan.html#fixed
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