BUSINESS FINANCING · NJ

Small Business Financing Guide for Camden County, New Jersey

This guide helps solo contractors and small business owners in Camden County, New Jersey understand their financing options in plain, honest language. It focuses on local lenders, community development financial institutions (CDFIs), credit unions, and ITIN-friendly lenders who actually serve this region — not just national programs. Whether you are just starting out or looking to grow, knowing the right local partners makes the difference. Take your time, compare your options, and never feel pressured to sign anything quickly.

§ 01 — What it is

What Is Small Business Financing?

Small business financing is money you borrow — or in some cases receive as a grant — to start, run, or grow a business. It can cover equipment, inventory, a lease, payroll, renovations, or working capital (day-to-day cash flow). Financing comes in several forms: • **Term loans** — You borrow a lump sum and repay it over a fixed period with interest. • **Lines of credit** — A flexible borrowing limit you draw from as needed and repay as you go. • **Microloans** — Smaller loans (often $500–$50,000) designed for newer or smaller businesses that may not qualify at a traditional bank. • **SBA-backed loans** — Loans made by local lenders and partially guaranteed by the U.S. Small Business Administration, which lowers risk for the lender and often means better terms for you. • **Grants** — Money you do not have to repay, typically offered through nonprofits, government agencies, or community programs. Grants are competitive but worth pursuing. • **CDFI loans** — Loans from mission-driven, nonprofit lenders specifically built to serve businesses that banks often overlook. No single product is right for everyone. The best fit depends on how long you have been in business, your credit history, whether you have a Social Security Number or an ITIN, and what you need the money for.

§ 02 — Who qualifies

Who Qualifies? A Look at Camden County's Economy

Camden County is one of the most economically diverse counties in New Jersey. It includes the City of Camden — one of the state's most underserved urban communities — along with suburban and semi-rural townships like Cherry Hill, Voorhees, Gloucester Township, and Winslow. The local economy is anchored by healthcare (Cooper University Health Care, Jefferson Health), education (Rutgers–Camden, Rowan University), logistics and warehousing along the I-295 and Route 130 corridors, construction trades, food service, and a large immigrant entrepreneurial community. **Who typically qualifies for business financing in Camden County?** • Sole proprietors and LLCs with at least 6–12 months of operating history (some microloans allow less) • Contractors and tradespeople — plumbers, electricians, landscapers, roofers — even those working primarily as 1099 workers • Immigrant business owners with an ITIN (Individual Taxpayer Identification Number) instead of a Social Security Number — several local lenders specifically accept ITINs • Businesses in low-to-moderate income areas of Camden, Pennsauken, Lindenwold, or Winslow that may qualify for community reinvestment programs • Startups with a solid business plan may qualify for microloans or CDFI products even without years of tax returns You do not need perfect credit to qualify for every program. Many local CDFIs consider your full story — your character, your business plan, your cash flow — not just a credit score.

§ 03 — What you need

Documents You Will Typically Need

Every lender has slightly different requirements, but gathering these documents before you apply will save you time at almost any institution: **Identity and Tax Information** • Government-issued photo ID (driver's license, passport, or consular ID) • Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) • ITIN letter from the IRS if you use an ITIN **Business Basics** • Business license or registration from the State of New Jersey (NJ Division of Revenue and Enterprise Services) • EIN (Employer Identification Number) from the IRS — free to obtain at IRS.gov • Business formation documents (LLC operating agreement, articles of incorporation, or DBA filing) **Financial Documents** • Last 2–3 years of personal tax returns (or 1–2 years for newer businesses) • Last 2–3 years of business tax returns, if applicable • Last 3–6 months of business bank statements • Profit and loss statement (a simple spreadsheet showing income and expenses works for many CDFIs) • List of business debts and assets **Business Plan (especially for startups)** • A description of what you do, who your customers are, and how you make money • A simple financial projection — what you expect to earn and spend over the next 1–2 years • An explanation of how you will use the loan funds If you need help preparing any of these documents, the Camden County SBDC (Small Business Development Center) at Rutgers–Camden offers free one-on-one advising. You do not need to pay anyone to prepare a basic business plan.

§ 04 — Where to start in Camden County

Local Lenders, CDFIs, and Resources That Serve Camden County

These are institutions with a documented presence and history of serving Camden County businesses. Origen Capital is a directory — we are not a lender and we do not collect your information. Always verify current programs directly with each organization. --- **1. Intersect New Jersey (formerly UCEDC)** A leading CDFI serving small businesses across New Jersey, including Camden County. Offers microloans and SBA-backed loans, with bilingual (English/Spanish) staff. ITIN-accepted for some products. Known for working with businesses that have thin credit files. 🌐 intersectnj.org **2. New Jersey Community Capital (NJCC)** A CDFI headquartered in New Brunswick with strong activity in Camden and Burlington counties. Focuses on community development, real estate, and small business lending in underserved markets. Works frequently with nonprofits and minority-owned businesses. 🌐 njcommunitycapital.org **3. Entrepreneur Works (Philadelphia-area CDFI)** Servicing the greater Philadelphia region, including Camden County (the counties across the river from Philadelphia are in their lending area). Offers microloans up to $50,000, business coaching, and credit-building support. Bilingual services available. ITIN-friendly. 🌐 myentrepreneurworks.org **4. Accion Opportunity Fund** A national CDFI with a strong record of lending to immigrant entrepreneurs and ITIN holders across New Jersey. Offers loans from $5,000 to $250,000. Spanish-language support available. Does not require U.S. citizenship. 🌐 aof.org **5. TruMark Financial Credit Union** Serves South Jersey, including Camden County. Member-owned and mission-focused. Offers business checking, business loans, and lines of credit with more flexible underwriting than many large banks. Membership is open to Camden County residents and workers. 🌐 trumarkfinancial.org **6. Campbell Employees Federal Credit Union / Local Credit Unions** Camden County has several community-focused credit unions. Credit unions are member-owned cooperatives that often offer lower rates and more personalized service than commercial banks. Ask about their small business lending programs when you apply for membership. **7. SBA Philadelphia District Office** Camden County is served by the SBA's Philadelphia District Office, which covers all of Southern New Jersey. They do not lend directly, but they connect you with SBA-approved lenders (banks and CDFIs) for 7(a) loans, 504 loans for real estate/equipment, and microloans. The SBA also offers free counseling through their SCORE chapter. 📍 Philadelphia District Office: 833 Chestnut Street, Philadelphia, PA 🌐 sba.gov/offices/district/pa/philadelphia **8. Rutgers–Camden Small Business Development Center (SBDC)** Free, confidential advising for Camden County business owners. Helps with business plans, loan application preparation, financial projections, and connecting you to lenders. This is your first stop if you are not sure where to begin. 📍 311 N. 5th Street, Camden, NJ 08102 🌐 njsbdc.com/centers/rutgers-camden **9. Camden Redevelopment Agency (CRA) / City of Camden** The City of Camden periodically administers small business grants, facade improvement loans, and business district reinvestment programs — especially in designated redevelopment zones. Programs change based on funding availability, so check directly. 🌐 ci.camden.nj.us **10. New Jersey Economic Development Authority (NJEDA)** A state-level authority with multiple programs relevant to Camden County businesses, including the Main Street Recovery Program, small business loans, and programs for businesses in designated Opportunity Zones (Camden has several). Not a lender you walk into — works through partner institutions. 🌐 njeda.com

§ 05 — What to avoid

New Jersey State-Specific Regulatory Notes

New Jersey has its own rules and programs that affect small business borrowers. Here are the most important ones to know: **Business Registration** All businesses operating in New Jersey must register with the NJ Division of Revenue and Enterprise Services. This is separate from your federal EIN. Registration is done online at njportal.com/DOR/BusinessRegistration and costs a small fee for most entities. **NJ Consumer Finance Licensing** New Jersey requires lenders making small business loans to hold state licenses under the New Jersey Consumer Finance Licensing Act or the New Jersey Licensed Lenders Act. Legitimate lenders operating in New Jersey are registered with the NJ Department of Banking and Insurance (DOBI). You can verify any lender at njdobi.gov before you sign. **NJ Small Business Set-Asides and Certification** New Jersey offers a Small Business Enterprise (SBE) certification for businesses that meet size requirements. Being certified can open doors to state contract opportunities. The NJ Division of Revenue administers this. Separately, minority-owned, woman-owned, and veteran-owned businesses may qualify for additional procurement preferences. **NJ Opportunity Zones** Parts of Camden City are federally designated Opportunity Zones. Investors placing capital gains into Qualified Opportunity Funds that invest in these zones receive federal tax benefits. For business owners in Camden, this means there may be more private investment capital available in your neighborhood than in most places in the state. **Commercial Financing Disclosure Law (Effective 2024)** New Jersey passed a commercial financing disclosure law that requires lenders — including merchant cash advance companies — to provide clear, standardized disclosures before you sign. This is a protection for you. If a lender refuses to provide these disclosures or rushes you past them, that is a serious warning sign.

§ 06 — Ask a question

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