MADISON — Unity Bancorp, Incorporated, the parent company of Unity Bank, which operates a branch on Main Street in Madison, announced it has been approved by the New Jersey Economic Development Authority Board as a participant in the authority’s Premier Lender Program, joining a select group of financial institutions committed to advancing small business growth throughout the state.
The Premier Lender Program is a partnership between the Economic Development Authority and more than two dozen banks across New Jersey, designed to help small businesses overcome financial barriers that can impede growth, expansion and job creation. Through the program, the authority can guarantee or participate in a portion of a Premier Lender’s commercial loans or lines of credit, providing qualifying businesses with greater access to affordable financing for fixed assets and term working capital.
“We are proud to be recognized as an New Jersey Economic Development Authority Premier Lender,” said James A. Hughes, chief executive officer of Unity Bank. “This partnership strengthens our ability to support the growth and success of New Jersey’s small businesses by providing greater access to capital and flexible financing solutions. Small businesses are the backbone of our local economy, and we share the authority’s commitment to helping entrepreneurs and business owners invest in their future, create jobs, and achieve their goals.”
Authority participation in qualifying loans can help businesses secure financing while providing lenders with greater flexibility by reducing their overall lending exposure. The partnership will enable Unity Bank to expand financing opportunities for businesses across its service area, which includes Morris County, and support continued economic development throughout the region.
Unity Bank is headquartered in Clinton and operates twenty-two branches across New Jersey and the Lehigh Valley region of Pennsylvania, offering community-focused commercial banking services including deposit accounts, loans and digital services. More information about the Premier Lender Program is available at njeda.com/premierlender.
