In response to the COVID-19 crisis, the City of Trenton seeks to provide low-interest loans to Trenton businesses to help them remain in business and protect jobs.
The UEZ loan fund is restricted to Trenton businesses located within the Urban Enterprise Zone. Recognizing that there are Trenton businesses located outside of the UEZ that are in need of assistance, the City partnered with Greater Trenton to create The Business Helping Business Loan Fund. There is a single application process for both funds, and the terms of the loans in each fund are identical.
In response to the rise in unemployment brought on by the COVID-19 crisis, the City of Trenton seeks to provide low-interest loans from our revolving loan fund to existing and prospective Trenton businesses to help them hire more employees. While providing some benefit to businesses in the form of the possibility of forgiveness a portion of the loan, the intent is to have loan dollars recycled to assist future businesses.
This revolving loan fund is a 50% matching loan at 3% interest, with a maximum loan amount up to $250,000.