CBAC's COVID-19 Statement - UPDATED 6-1-2021
CBAC values the health and safety of all staff, loan clients, small businesses seeking assistance, and partners and stakeholders. We thank you for your patience as we continue to experience a high volume of inquiries. We are still working with the New Jersey Economic Development Authority (NJEDA), federal agencies, and other partners to assist small businesses during the pandemic by offering several loan programs. CLICK HERE to read our current pandemic action statement, and how we strive to be available and responsive to your small business needs in our target communities.
The SBA Paycheck Protection Program (PPP) Has ENDED.
The PPP loan program expired on May 31, 2021, but funding ran out on May 29, 2021. NO NEW APPLICATIONS ARE BEING ACCEPTED. CBAC is a participating SBA Microlender, but we did not offer PPP Loans. See our "Need a Loan" tab if you want to learn more about what we offer or visit our pandemic action statement to explore other options that might still be available.
If your business is located in or moving to Southern New Jersey or Philadelphia, Pennsylvania, and if you are struggling to get a loan at a competitive interest rate or need additional funding for a larger transaction, CBAC wants to help you start, grow, and succeed.
CBAC is a non-profit, mission-driven community lending organization that offers a range of loan products and support services to entrepreneurs to meet your existing and start-up business needs.
We offer transparent, fair, and competitive interest rate business loans with low fees to small businesses throughout Southern New Jersey and Philadelphia. We can make loans directly to your business and in partnership with banks and other lenders to help you get the capital you need, and we offer convenient repayment plans.
Our professional staff works one-on-one with you to tailor a financing package that meets your unique business needs. We also blend the resources and experiences of our partners with our programs and services to provide your business with customized coaching, training, and technical assistance.
In the past five years, CBAC made over 500 loans, which created and retained approximately 2,700 jobs.
Sixty-one percent of CBAC's loans were to women and minority-owned businesses.