Free Workshop For Small Businesses

Burlington County will host a free presentation for small businesses Wednesday, June 7th at 2 p.m. at Ott’s Restaurant in Edgewater Park to provide information and applications for low-interest loans available through the County.

The County’s Department of Economic Development and Regional Planning is sponsoring the workshop which will include a power-point presentation covering several types of financing including bank participating loans and non-bank direct loans or micro-enterprise loans.

Up to $25,000 in micro-enterprise loans is available for working capital, such as marketing, inventory and payroll expenses, and fixed assets, such as equipment and fixtures. The County has a pool of about $250,000 in federal dollars for 0 and 1 percent micro-enterprise loans for businesses with up to five employees.

Freeholder Aubrey A. Fenton, who oversees Economic Development, said, “This is a great opportunity for new or expanding businesses to get help and take advantage of opportunities such as those in town centers along the RiverRoute and elsewhere in the county.”

The micro-enterprise loans are intended for low and moderate-income businesses or for businesses creating jobs for low and moderate-income persons within 18 months. Interested businesses are encouraged to apply promptly, as the funding will be distributed on a first-come, first-serve basis.

The loans also may be used to cover expenses for an annual lease or for business-related educational purposes. Small businesses in Urban Enterprise Zones and along the Route 130 Corridor are eligible for 0 percent loans up to 10 years.

Representatives from the Economic Development department will answer questions following the presentation which is expected to last about one hour.

Staff members also are available to speak at no charge to local organizations, such as business associations and chambers of commerce, about the loan programs.

Businesses interested in attending the June 7th presentation should RSVP to Economic Development at (609) 265-5055. For more information, call Darlene Scocca or visit the department’s website at http://www.co.burlington.nj.us/departments/economic.

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Author: Press Release-Burlington County