The 504 Company and Jersey City Economic Development Corporation launch the ‘Jersey City Fund’ to Help Jersey City’s Small Businesses
The 504 Company has partnered with The Jersey City Economic Development Corporation (JCEDC) to develop the Jersey City Fund, a $10 million dollar loan fund dedicated to strengthening the small business community. Designed to help small businesses grow and thrive, the Jersey City Fund offers a loan product that is responsive to a wide range of business priorities, from purchasing new equipment and increasing inventory to hiring new employees and renovating real estate. The Fund was announced by Mayor Fulop on September 17.
Applications must be submitted through the Jersey City Economic Development Corporation Technical assistance is available to help applicants complete their applications and submit required documentation. The JCEDC will work directly with clients to provide guidance and assist them in finding the resources needed to grow their business.
As part of the program’s launch, the Jersey City Economic Development Corporation and The 504 Company will sponsor the Jersey City Business Acceleration Competition. The Competition will award cash prizes of $15,000 and $10,000 as well as additional business support to two existing Jersey City small businesses that demonstrate potential for significant growth. Application material and additional information can be found at www.thejerseycityfund.com.