JERSEY CITY, NJ — Mayor Jerramiah T. Healy announced the inauguration of a

recovery program exclusive to small businesses located in Jersey City that have been

physically and economically affected by Hurricane Sandy. REBUILD New Jersey – The Jersey

City Fund will provide eligible businesses with quick access to 3%-interest, working capital loans

and lines of credit. An open house to acquaint business owners with the program and to assist

with applications will be held this Thursday, December 6th from 1 to 3 p.m. in the Council

Chambers at City Hall, 280 Grove Street in Jersey City.

REBUILD New Jersey – The Jersey City Fund was established by New Jersey Community

Capital (NJCC) with grants from Goldman Sachs Gives and JP Morgan Chase & Co., and

$500,000 in funding from the Jersey City Economic Development (JCEDC) which is

utilizing its Urban Enterprise Zone reserve funds.

“Jersey Cityâ€s small businesses are the backbone of our community and securing the

resources they need to recover and get back to business as usual is one of our top priorities,”

said Jersey City Mayor Jerramiah T. Healy. “The Jersey City Economic Development

Corporationâ€s partnership with New Jersey Community Capital and Goldman Sachs Gives is

a big step in helping Jersey Cityâ€s small businesses — and our community — and we are

happy to be working with them.”

REBUILD New Jersey – The Jersey City Fund will make available loans between $10,000

and $30,000 for up to two years at a fixed interest rate of 3% and will be interest-free for up

to three months. The loans may be used for building repairs, equipment and inventory

purchases, rent or mortgage payments, salary expenses, and utility costs.

To qualify, a business must be located in Jersey City, have at least one year of prior operation

and business owners are required to have an average credit score of 625. Complete

information on the program may be accessed by contacting the Jersey City Economic

Development Corporation (201-33-7797) or the Mayorâ€s Action Bureau (201-547-4900 or

547-5555 and is available on the homepage listed below.

In order to continue to fulfill its longstanding mission of stabilizing communities in need,

NJCC is immediately offering these low-interest loans through REBUILD New Jersey in

Jersey City as well as Newark and Asbury Park. NJCC has contributed $750,000 in lending

capital to the overall REBUILD New Jersey program.

REBUILD New Jersey was also made possible by an $800,000 donation from Goldman

Sachs Gives, a contribution that aligns with the goals of the firmâ€s 10,000 Small Businesses

initiative, a $500 million investment to help small businesses in the United States create jobs

and economic growth. JPMorgan Chase contributed an additional $250,000 in grant funds to

fortify REBUILD.

Business owners interested in taking advantage of this program may obtain information

through the Jersey City Economic Development Corporation at 201-333-7797 or the Mayorâ€s

Action Bureau 201-547-4900. The program application and additional details may also be

accessed at www.newjerseycommunitycapital.org/financing/rebuildnj.

“We urge our business owners who need financial assistance to get back on their feet to be

here at City Hall on Thursday,” Mayor Healy stated. “There will be people here from Jersey

City Economic Development Corporation and New Jersey Community Capital to answer

your questions and help you with the application.”

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