At a glance
From its website, read 2 Nov 2026Eastern American Economic Development Corporation is a loan fund based in Palisades Park, New Jersey. Its website describes commercial real estate loans, microloans, home mortgages and 2 other loan types. Where it lends: New Jersey businesses (Microloan program). The business loan rate it states is 3.25%. It serves borrowers in Korean.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Phone | (201) 585-0136 source |
|---|---|
| info504@ea504.org source | |
| Website | www.ea504.org |
| Office (official list) | 438 Broad Ave 2nd FL, Palisades Park, NJ 07650 |
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Microloans | Rate: from 3.25% | The Microloan Program offers a below-market fixed rate starting from 3.25% with a fixed rate up to 10 years. | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 12 Jul 2025 |
| RSSD ID | — (none listed) |
| Address | 438 Broad Ave 2nd FL, Palisades Park, NJ 07650 Directions (Google Maps) |
| Website | www.ea504.org |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: medium. Product pages give rates but the amount ranges appear only on the home page, and the service area is stated only for the Microloan program. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Commercial real estate loans | — | Owner-Occupied Commercial Loan Up to $5MM | source |
| Microloans | up to $250,000 | Microloan Up to $250K | source |
| Home mortgages | — | Residential MTG/Construction Up to $3.5MM | source |
| SBA-backed loans (7(a)/504/Community Advantage) | — | SBA 504 Effective Rate | source |
| Small-business loans | — | Government Guaranteed Loan Up to $30MM | source |
Loan sizes
Service area
New Jersey businesses (Microloan program)
The Microloan program is tailored for entrepreneurs and small business owners who have operating businesses and commercial locations in New Jersey.
source
Borrower focus
- Not stated on the pages we read.
Languages
- Korean
자영업자분들을 위한 SBA 504 론! 자세히 알아봅니다.
source
Online application
No online application link found on the pages we read.
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What are the smallest and the largest loans you make?
No loan amounts are stated on their website. - What is the APR, including fees, on your home mortgages?
Their website does not state an APR. The APR includes fees, so it is the number to compare. - Is there a minimum credit score, and do you consider borrowers with little or no credit history?
Their website does not say what credit history they accept. - Do you need collateral, a business plan or a minimum time in business?
Their website does not say what they require. - How long can I take to repay?
No repayment terms are stated on their website. - Do you offer down-payment help, and is a homebuyer education course required?
CDFI home loans often come with homebuyer education or down-payment help; their website does not say. - What documents will you need from me, and how long does a decision usually take?
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Business loan rate its website stated (2 Nov 2026) | 3.25% | Prime rate that day: 7.00% (FRED DPRIME), so the lowest stated rate is 3.75 pts below prime. For an SBA 7(a) variable-rate loan the legal maximum is prime plus 3 to 6.5 points, by loan size. |
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered; your rate depends on the loan and on the lender's review. Peer groups and sources: methodology. Prime rate: FRED DPRIME.
Other certified CDFIs in Palisades Park and New Jersey
- 1ST Bergen Federal Credit UnionCredit union · Hackensack, NJAuto / vehicle loans, Credit-builder loans, Microloans, Personal / consumer loans…Verified
- Cooperative Business Assistance Corp, TheLoan fund · Camden, NJMicroloans, Small-business loansVerified
- Cumberland Empowerment Zone CorporationLoan fund · Millville, NJMicroloans, Small-business loansVerified
- Entertainment Industries FCUCredit union · Elizabeth, NJAuto / vehicle loans, Home mortgagesVerified
- Financial Resources Federal Credit UnionCredit union · Branchburg, NJAuto / vehicle loans, Home repair / improvement loans, Personal / consumer loansVerified
- Greater Newark Enterprises CorporationLoan fund · Newark, NJSmall-business loansVerified
Work at Eastern American Economic Development Corporation? Link to this page
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CDFI Atlas is not a lender and does not give financial advice. Inclusion is not an endorsement, and lenders have not reviewed or approved these pages. Disclaimer.