skip to main content

Cumberland Empowerment Zone Corporation

A Catalyst for Economic and Community Development in Cumberland County

About Us

About Us

The Cumberland Empowerment Zone is a non-profit organization whose focus is to serve as a catalyst for economic and community development in Cumberland County, New Jersey.  Since 1999, the Cumberland Empowerment Zone Corporation (CEZC) has invested more than $20 million in Empowerment Zone funding in the County, leveraging more than $250 million in private/public funding. The program has been recognized as one of the most successful Empowerment Zones in the nation. The CEZC works to bring people and places together in a concerted effort to reclaim neighborhoods and build economic strength. This goal is accomplished through a variety of impactful projects and programs.

Cumberland County’s Empowerment Zone consists of targeted areas in Bridgeton, Millville, Vineland, and the County’s Bayshore region. The mission of the Cumberland Empowerment Zone Corporation (CEZC) is to be a catalyst for the community and economic development by providing loans to start up and existing small businesses in the disadvantaged communities of Cumberland County’s Bridgeton, Millville, Vineland and Bayshore region. To achieve this mission, the CEZC focuses on partnerships that have been developed among residents, businesses, local organizations, and various levels of government. Our vision is to increase economic vitality in key sectors of the County, by identifying and recruiting new industry for business development, creating new jobs, and promoting the retention of existing businesses. We envision thriving businesses that create financial stability, assets, and wealth for business owners and their families and that provide quality jobs and employment opportunities for those that seek them, as well as pathways for financial growth.

Loan Programs

Loan Programs

The CEZC currently administers several loan programs to benefit individuals and businesses throughout Cumberland County. They include a Micro Loan Program, a Business Loan Program, as well as the Urban Enterprise Zone (UEZ) Program administered for the City of Vineland, City of Bridgeton, and City of Millville. For assistance in determining which CEZC loan program best meets your business needs, please contact the CEZC. 

 

CEZC Micro Loan Program

The Micro Loan Program is most frequently used for small business start-ups and expansions. This program provides small businesses with the financial assistance needed to give them the best opportunity for success. In the case of new business start-ups, applications are evaluated on a realistic business plan. Micro loans for business expansions are based upon the history of the business and the realistic expectation that the expansion will generate additional profits.

Eligibility: Businesses located within the Cities of Bridgeton, Millville, Vineland, and the Cumberland County Bayshore.

Use of Funds: Inventory, supplies, furniture, fixtures, machinery, equipment, minor renovations and working capital. The funds cannot be used to refinance existing debt.

Loan Amounts: Up to $35,000

Borrower’s Equity: A minimum of 10%; however, use of funds determines the amount required.

Rates and Terms: Fixed and is set by the CEZC Board of Directors dependent upon use of funds, risk, and collateral.

CEZC Business Loan Program

The CEZC’s Business Loan Program is designed to provide subordinate financing to help larger projects and/or business expansions succeed. Funding is intended to fill a “gap” in financing after primary financing is secured from a bank or other lender. Staff will work closely with the borrower and primary lender to ensure an efficient application process.

Eligibility: Businesses located within the Cities of Bridgeton, Millville, Vineland, and the Cumberland County Bayshore.

Use of Funds: Acquisition of land and buildings, new construction and site improvements, renovations, acquisition of machinery and equipment, and working capital.

Loan Amounts: Loan amounts may be up to 40% of the total project costs, determined based on availability of funding, the borrower’s ability to utilize other public/private funding sources, and the project’s gap in financing. In addition to projects costs and funding sources, loan amounts are also based on job creation and community impact.

Borrower’s Equity: Applicants are required to provide at least 10% equity contribution to the project.

Rates and Terms: Based upon the structure of the financing and the EZ resident benefit.

Vineland UEZ Loan Program

The objective of the Vineland UEZ Loan Program administered by the CEZC is to provide favorable financial incentives which, when coupled with private financing, will stimulate business expansion in the Vineland UEZ. To qualify for a loan, an applicant must be certified as a UEZ business. Certification is issued by the State of New Jersey through the Enterprise Zone Development Corporation Vineland. To be certified, a project under consideration must be located within the UEZ geographic limits of the City of Vineland.

Eligibility/UEZ Certification: Borrower must remain a UEZ certified business within the City of Vineland, and maintain all outstanding tax obligations to the State of New Jersey, throughout the entire loan term.

Use of Funds: Acquisition of land and buildings, new construction and site improvements, renovations, acquisition of machinery and equipment, and working capital.

Loan Amounts: Up to $125,000, determined based on availability of funding, the borrower’s ability to utilize other public/private funding sources, and the project’s gap in financing. For loans in excess of $50,000, preference is that funding be subordinate to a Primary Lender.

Borrower’s Equity: A minimum of 10%; however, use of funds determines the amount required.

Rates and Terms: Interest rates and terms are based on the structure of the financing and the resident benefit.

Want to know how you can become UEZ certified? Contact  Email Nilsa

 

Bridgeton UEZ Loan Program

The objective of the Bridgeton UEZ Loan Program administered by the CEZC is to provide favorable financial incentives which, when coupled with private financing, will stimulate business expansion in the Bridgeton UEZ. To qualify for a loan, an applicant must be certified as a UEZ business. Certification is issued by the State of New Jersey through the Bridgeton Urban Enterprise Zone “UEZ” program. To be certified, a project under consideration must be located within the UEZ geographic limits of the City of Bridgeton.

Eligibility/UEZ Certification: Borrower must remain a UEZ certified business within the City of Bridgeton and maintain all outstanding tax obligations to the State of New Jersey, throughout the entire loan term.

Use of Funds: Acquisition of land and buildings, new construction and site improvements, renovations, acquisition of machinery and equipment, and working capital. These funds cannot be used to refinance existing debt.

Loan Amounts: Up to 50,000 with loan amounts based on job creation.

Borrower’s Equity: A minimum of 10%; however, use of funds determines the amount required.

Rates and Terms: 5% Fixed Rate is set and dependent upon use of funds, risk, and collateral.

Want to know how you can become UEZ certified? Contact Email Stephanie

Millville UEZ Loan Programs

The objective of the Millville UEZ Loan Program administered by the CEZC is to provide favorable financial incentives which, when coupled with private financing, will stimulate business expansion in the Millville UEZ. To qualify for a loan, an applicant must be certified as a UEZ business. Certification is issued by the State of New Jersey through the Enterprise Zone Program Corporation of Millville. To be certified, a project under consideration must be located within the UEZ geographic limits of the City of Millville.

Millville UEZ Micro Loan Program: The Micro Loan Program is most frequently used for small business start-ups and expansions. This program provides small businesses with the financial assistance needed to give them the best opportunity for success. In the case of new business start-ups, applications are evaluated on a realistic business plan. Micro loans for business expansions are based upon the history of the business and the realistic expectation that the expansion will generate additional profits. Up to $75,000.

Millville Business Loan Program: Up to $150,000.

Eligibility/UEZ Certification: Borrower must remain a UEZ certified business within the City of Millville and maintain all outstanding tax obligations to the State of New Jersey, throughout the entire loan term.

Use of Funds: Acquisition of land and buildings, new construction and site improvements, renovations, acquisition of machinery and equipment, and working capital. These funds cannot be used to refinance existing debt.

Loan Amounts: Up to $150,000 with loan amounts based on job creation and community impact.

Borrower’s Equity: A minimum of 10%; however, use of funds determines the amount required.

Rates and Terms: 5% Fixed Rate is set and dependent upon use of funds, risk, and collateral.

Want to know how you can become UEZ Certified ? Contact Email Nilsa

Tax Incentives

There are several tax incentives available for businesses located within Empowerment Zone census tracts or who employ residents of the Zone. Businesses are advised to work with their accountant to ensure that they are taking advantage of all tax benefits.

Work Opportunity Tax Credit

Allows businesses to take a credit up to $2,400 against federal taxes for each new hire from groups that have high unemployment rates or other special employment needs, including: youth ages 18 to 24, who live in an Empowerment Zone, and summer hires ages 16 to 17 who live in an Empowerment Zone.

For the purposes of tax incentive eligibility, Cumberland County’s Empowerment Zone census tracts consist of the following:

Housing Development

Together with partners Gateway Community Action Partnership and Eastern Pacific Development Corporation, the CEZC developed River Grove Family Housing within the City of Bridgeton. The River Grove development constructed 68 rental townhouses on scattered sites on South Avenue, Grove Street, Spruce Street and Ellis Streets in the Southeast Gateway neighborhood. Partial funding is provided by USDA under their Farm Worker Housing program. Funding was also generated through NJ Housing Mortgage Finance Agency’s (HMFA) Low Income Housing Tax Credit program. This development project invested more than $20 million into the community, created quality rental housing alternatives on previously vacant city-owned lots, and remediated significant environmental concerns. River Grove is part of a comprehensive neighborhood revitalization effort led by Gateway and funded through the Wells Fargo Regional Foundation.

Education Programs

Based on a shared vision, the CEZC works together with four local school districts (Vineland, Millville, Bridgeton, and Commercial Twp.) to provide afterschool and summer learning opportunities for local youth. Programming provides enrichment, recreation, positive youth development and social services for students in grades 5 through 10 and their families in each of the districts.

Email Cindy