COVID-19 SMALL BUSINESS RESOURCES
Burlington County Freeholder Deputy Director Tom Pullion Announced a new Health Emergency Loan Program (HELP) with the Burlington County Bridge Commission. This new interest-free loan program are aimed specifically to aid eligible small businesses impacted by the ongoing coronavirus pandemic.
“From the very start of the pandemic, the Freeholder Board has made it our mission to provide whatever assistance we can muster for our residents and small businesses to help them through this unprecedented crisis,” said Freeholder Tom Pullion, the board’s deputy director and liaison to the Bridge Commission and Department of Economic Development. “Now we’re proud to announce that more HELP is on its way. These loans can provide a lifeline for our county’s businesses and a springboard for their recovery. The more assistance we can provide our small businesses the better off we’ll all be.”
“Small businesses make up the backbone of our country’s economy and they’re still struggling due to the pandemic and the changes and sacrifices the health emergency has forced upon us all,” said Bridge Commission Chair Hon. Troy Singleton. “By extending zero-interest loans to our businesses, we can help them stay afloat and keep their employees working until the virus is defeated and the economy rebounds. The HELP loans can also be used to purchase protective equipment and other supplies they need or to make renovations or other improvements to keep their customers and employees safe.”
The terms of the working capital loans are:
- Up to $10,000 for each job retained, to a maximum of $50,000;
- 0% Interest rate;
- No closing costs;
- Maximum payback period of 10 years; and
- These loans may not be used to refinance current debt.
- Usual application fees are waived
Criteria for eligible borrowers include:
- The borrowing business must be located in Burlington County;
- Jobs must be retained for the term of the loan; and,
- Borrower must have sufficient collateral in business or personal real estate to secure the loan.
Inquiries about the HELP loans should be made by clicking on the “SEE IF YOU QUALIFY” button at right; a member of the EDRP staff will be in touch within one business day.
…more HELP is on its way. These loans can provide a lifeline for our county’s businesses and a springboard for their recovery.
During the COVID-19 pandemic, the
- expedite the review of loan applications
- expedite settlement of loans for eligible applicants
- waive all application fees
BURLINGTON COUNTY SMALL BUSINESS LOAN PROGRAM
Check out the other loans we offer in addition to the HELP loans outlined above:
Economic Development and Regional Planning
Burlington County Bridge Commission
(609) 265-5055 FAX (609) 265-5006
1900 Briggs Road
Mount Laurel, NJ 08054
1300 Rte. 73 North, PO Box 6
Palmyra, NJ 08065-1900