New UEZ Loans and Grants Applications Go Live Today at Noon

Today at 12PM, the LDC and LCSC will start accepting applications for the new loans
and grants.

Small business owners can apply for these new loans and grants via the new
Application Portal which can be found at www.uezapps.lakewoodnj.gov. The portal also
contains a full list of all the loans and grants available as well as step by step instructions on how to apply. All loans and grants will be awarded on a first come, first served basis.

Please visit https://thelcsc.org/community-navigator-pilot-program for our instructional webinar (at the bottom of the page) outlining the Loans and Grants available and a step-by-step guide on completing the various applications.

If you have further questions, you can reach out to the LCSC at 732-901-6001 ext. 209 or
[email protected].

The Urban Economic Zone (UEZ) in Lakewood is one of 32 such zones located
throughout the state. Originally enacted in 1983, the UEZ Administration has been tasked with “foster[ing] an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging businesses to develop and create private sector jobs through public and private investment” (nj.gov).

Lakewood businesses that are located within the UEZ (map here) are eligible to become part of the UEZ program. Once registered as a UEZ member, the business can charge a reduced rate of sales tax (3.5%) and is also not responsible to pay taxes on the first $50,000 of business expenditures.

In addition to these benefits, member businesses may apply for low interest loans and grants. The funding for these loans and grants is provided from the state of New Jersey to the Lakewood Development Corporation (LDC). In turn, the administration of the loans and grants is performed by the Lakewood Community Services Corporation (LCSC).

Recently, the NJ UEZ Administration has made more funding available. Through the
tireless efforts of the LDC and LCSC a few new programs have been developed in the hopes of
best serving Lakewood’s local business community. The new programs include loans to help businesses expand as well as grants for technology-centric business expansion.

Don’t miss this opportunity to help your business grow and prosper.

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