2016 Wrap-up, New Lending Initiative in Hudson County, UCEDC Named Among Top US Lenders, Invoicing Tips, and more...
2016 Wrap-Up Highlights Successful Year for Small Biz Development

We knew we were busy in 2016 but it wasn't until we compiled our year-end statistics that we fully appreciated how our work had impacted individuals, families and communities throughout New Jersey.

The numbers are impressive:  in 2016 we made $4.7 million in loans to 91 businesses; trained 1,697 owners and entrepreneurs; and helped our clients win $168 million in government contracts. But the real story is best told by our hard-working, big-dreaming clients.

Take a look at our Annual Highlights publication and meet six small business owners who are using their widely diverse passions to build a better life for themselves and a stronger community for their neighbors. From a master beekeeper to a funeral home director, their stories will inspire you.
UCEDC Takes On Hudson County Lending Challenge 

UCEDC is partnering with the Hudson County Economic Development Corporation to bring $1 million in fairly priced capital to small businesses that don't qualify for conventional lending.

The "Million Dollar Challenge" is aimed at viable start-ups and growing small businesses throughout Hudson County.  With loans from $5,000 to $5 million, we're ready to help with almost any small business need, including working capital, equipment/inventory, business acquisition, construction/renovation of owner-occupied property, etc.

If your business is located in Hudson County, you need to know more about the "Million Dollar Challenge".  Visit our website or contact Andrew Gaffney at agaffney@ucedc.com .
 
Not in Hudson County?  No worries,  we've got the right  financing solution for you.
 
Whether you're just starting out or have been in business for a while, we're ready to help.  Visit our website to learn more about loan options that feature as little as 10% down and flexible collateral requirements.

And if you've been in business for at least three years and could use up to $25,000 at 3% (that's below prime!) for five years, no collateral required, apply now for our  3% Working Capital Loan .   


Business Workshops Scheduled Throughout NJ

Our small business trainers are going to be B-U-S-Y for the rest of 2017, with over 40 workshops scheduled and more being added each week.

With topics as varied as Intellectual Property Basics, Getting on the GSA Schedule, and Entrepreneurship 101, you're sure to find a workshop that will help you start, grow and thrive in your small business.

Whether you're located in south, central or northern New Jersey, we'll be in your area.  Check out our Training Calendar for complete information and registration.
UCEDC Among Top Lenders in US

Our hard work  paid off in 2016 when we were recognized as one of the top 15 small business lenders in the US by the SBA's Office of Economic Opportunity (OEO).  UCEDC was ranked  #10 nationwide in microloan and Community Advantage 7a loans made (86) and #15 in dollars loaned ($2 million) in fiscal 2016. 

We were also gratified to be awarded the state's top ranking in microloans by the New Jersey Division of the SBA for the same time period.     
This Caught Our Eye:  7 Tips for Effective Invoicing

In any small business, get paid in full and on time is absolutely essential for survival. Ironically, many small business owners don't pay enough attention to their invoicing and collection processes and find themselves in a constant cash-flow bind. (We've had to remind more than one small business vendor of ours to send us their bill!)

If you don't have your system down pat and/or are worried about confronting past-due clients, you're leaving hard-earned money on the table.  

With so many online billing and payment systems now available, there's no reason why quick and easy invoicing can't be in your future. This article from Nerd Wallet, an online source of tools and objective advice on financial matters, lays out the steps to take and tools to use to collect the money you earned and keep your customers coming back for more.

Meet Our Newest Team Members

Say hello to Andrew Gaffney, loan officer.  Andy is our lead on the Million Dollar Challenge (see previous article) in Hudson County. He's ready to meet with entrepreneurs and business owners to explore their financing options. He can be reached at 908-858-2365 and agaffney@ucedc.com .

Introducing Diana Grandez, porfolio manager.  Diana coordinates loan closings with our borrowers and services our outstanding loans to ensure compliance with all policies, procedures and regulations. She can be reached at 908-527-1166 and dgrandez@ucedc.com .

Welcome to Candi Sadigh, office manager.  Candi keeps the office humming and helps our  clients get connected to the most appropriate services and resources we offer. She can be reached at 908-527-1166 and csadigh@ucedc.com .

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