UCEDC Offers Storm Recovery Loans For Union County Small Businesses

UNION COUNTY–In response to the devastation facing small businesses in the aftermath of Hurricane Sandy, Union County Freeholder Chairman Alexander Mirabella today announced the Union County Economic Development Corporation is now prepared to expedite loan applications of up to $15,000 to meet the post-storm recovery needs of small businesses.

“Small businesses are the lifeblood of Union County’s economy and we are offering an important program that will enable them to ramp up and get back to work at full capacity,” Mirabella said. “We need to keep Union County moving forward.”

The Union County Economic Development Corporation, which receives partial funding through the County of Union, is committed to providing small business owners with a decision within two weeks of receiving a completed application. The loans carry no prepayment penalty, so applicants can pay off the balance with insurance proceeds if they choose to do so.

For larger capital needs, the UCEDA continues to offer loans up to $250,000 with conventional processing periods.

Those interested in applying for these programs, may call today at 1-908-527-1166 to speak with UCEDC loan officers. UCEDC is located at 75 Chestnut Street, Cranford.

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