Areas Served: City of Millville
City of Millville offers loan programs for businesses in Millville, New Jersey.
Economic Stabilization Loan Program Eligible Borrowers: Businesses located in the Downtown Arts District.
Loan Amount: Up to $15,000 Terms: 5 years – 1st year interest only, 4 years P & I Permitted Uses: Working capital and any operating expense.
Other Special Requirements: Limited to businesses located within the Arts District at least three years.
Grow Millville Fund Eligible Borrowers: Any businesses located in Millville.
Loan Amount: $50,000 to $1,000,000 Terms: 3 to 25 years Permitted Uses: Working capital, machinery and equipment, tenant improvements, acquisition of real estate, and construction and renovations.
Millville UEZ Development Fund Eligible Borrowers: Qualified Urban Enterprise Zone businesses at time of closing.
Loan Amount: $5,000 to $150,000 $150,000 and higher available depending on project and jobs created.
All loans $2,000 and higher are subject to prevailing wages.
Terms: 5 to 15 years depending on collateral and use of funds.
Permitted Uses: Working capital, machinery and equipment, expansion and renovations, and acquisitions.
Other Special Requirements: Limited to businesses in the UEZ of Millville.
Personal Guarantee required.
Must be fully collateralized.
Contact InformationCity of Millville, New Jersey
Address: 12 S. High St.
City: Millville
State: New Jersey
Website:
http://www.co.cumberland.nj.us/content/165/5172/5982/6173.aspx
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