Mercer County partners with UCEDC to offer second round of 0% business loans

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Mercer County partners with UCEDC to offer
second round of business loans at 0%

UCEDC logo

Mercer County Executive Director Brian M. Hughes is pleased to announce the second round of COVID-19 crisis management business loans offered by UCEDC. Mercer County, which has an ongoing partnership with UCEDC on a number of different lending packages, is now promoting the second round of crisis loan. Small businesses can apply to borrow up to $ 15,000 at 0% for up to five years without collateral requirements to meet their COVID-19 needs.

The Crisis Loan Program is designed to provide broad access to much needed working capital. The program features fast processing (once the application requirements are met), no collateral requirements, prepayment penalties, and processing or filing fees.

Participation requirements include:

  • Companies that have been in business for at least two years and have a credit rating of 660 or higher are eligible to apply for up to USD 15,000.
  • Companies operating before March 21, 2020 but less than two years old or with a credit rating of 630 to 659 are eligible to apply for amounts up to $ 10,000.
  • No loan or credit card write-offs for three years.

The UCEDC has also set out requirements for applications, which include a personal guarantee for all owners with more than 10% ownership.

To learn more about this opportunity, contact Liz Williams, VP Lending, at ewilliams@ucedc.com or visit UCEDC website for more information.

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