Business & Commercial Lending

Do you need help financing office space, securing equipment or just growing your business?
 
We offer an array of products enhanced by customized solutions tailored to your individual cash flow needs.
As a renowned community bank, we understand your small business needs. Contact us to see how our financial services can work for you and how your deposits can work for the community. We reinvest approximately more than 80 cents of every dollar on deposit back into local businesses, jobs, and development.

Executive Summary:

As a 'Community Development Financial Institution', Carver is dedicated to
empowering under served communities. The New Jersey MicroLoan Program will
help create jobs, foster economic mobility and build financial security for small
business owners.


New Jersey Economic Development Authority (NJEDA):

Small business is the engine of wealth in America, and ownership is the key to
building generational wealth. Through our partnership with NJEDA, we can
provide microloans to eligible businesses.
 


Empower The Village (ETV):

Through partnership with ETV, business owners can be provided with technical
assistance, workshops, and a variety of other resources. Perfect for small business
owners who seek to develop and implement breakthrough, scalable strategies.


How to Apply:

  • Applications can be submitted online at: carverbank.loanwell.com
  •  If you have any questions, please feel free to contact Alcindor Rosier via email or phone:
 

Loans from $10,000 to $100,000

Microloan Terms:
  •  Minimum Loan Amount: $10,000
  • Maximum Loan Amount: $100,000
  • Up to a 10-year maturity period
  • Max interest rate of 5%• No pre-payment penalty
  •  No principal or interest payments for the first 12 months
  •  Use of Proceeds – Working capital, equipment purchase, inventory, business expansion
  • Fully amortized
  • Max application fee is 1% of the loan amount
  •  Minimum 1.00x Debt Service Coverage Ratio
  • Loan proceeds may not include debt refinancing
 

Borrower Requirements*:

  • Business must have a physical location in the State of New Jersey
  • Annual Gross Revenue less than $1,500,000
  • Fewer than 10 Full-Time Employees
  • Operating for at least 1 year
  • Minimum FICO score of 600
 

Documentation Needed**:

  • New Jersey Business Tax Clearance Certificate
  • Business & Guarantor Tax Return
  • Profit & Loss and Balance Sheet Statements
  • Current debt schedule (if applicable)
  • Proof of On Time Rent payments (if applicable
  • Articles of Incorporation / Organization
  • Personal Financial Statement
 
*Other terms and conditions may apply.
**Additional documentation may be required.