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Union County Economic Development Corporation

Offering comprehensive financial services tailored to small businesses, this lender specializes in SBA loan programs to support growth and development. With a focus on serving the local community, they provide access to capital for startups, expanding businesses, and established companies alike. Their expertise includes SBA 7(a) loans, which are ideal for various business needs such as working capital, equipment purchase, or real estate acquisition. The institution emphasizes personalized service and flexible lending options to help entrepreneurs achieve their goals. Located in Cranford, NJ, they are committed to fostering economic development within the region and beyond, providing valuable resources and guidance throughout the loan process. Whether you’re seeking a small microloan or a larger SBA 7(a) loan, they aim to streamline the application process and offer competitive terms to meet your business needs.

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Lender Type

Commercial Bank

Google Rating

4.2

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Question 1

What is this place and what can I find here?

Answer 1

This is a financial institution that offers SBA loan programs and small business financing solutions, providing resources to help entrepreneurs grow and succeed.

Question 2

Do I need an appointment or can I walk in?

Answer 2

You can typically walk in during business hours or schedule an appointment for more personalized service, depending on your needs.

Question 3

What are the hours of operation?

Answer 3

The hours of operation are generally Monday through Friday, from 9 AM to 5 PM, but it"s best to call ahead for specific times.

Question 4

Is there a fee to use this?

Answer 4

There are no fees to access basic consultation services; however, loan application fees and closing costs may apply depending on the loan type.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This institution primarily serves small business owners within the region, but eligibility is open to qualified applicants meeting their lending criteria.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of around 640 is generally required, though specific requirements may vary based on the loan and applicant profile.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

The underwriting process typically takes between 2 to 4 weeks, depending on the complexity of the loan and completeness of the application.

Union County Economic Development Corporation

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