The Hispanic American Commerce Association (HACA) and Jersey City are hosting a seminar to help HACA member businesses obtain loans through a new program for small businesses and start-up companies.

The information session will take place at HACA's new office, located on 147 Monticello Ave., in Jersey City on Sunday, June 26, from 5 to 8 p.m.

HACA officials said Jersey City Mayor Steven Fulop, Innovation Team Director Brian Platt and other local officials are expected to attend the seminar.

Jersey City has launched two loan programs to serve small business owners and people looking to start a business.

The EDA Microloan Fund is offering loans between $1,000 and $5,000 at interest rates based on the Wall Street Journal prime rate (currently 3.5 percent). The program is funded by $70,000 in unused funds from the federal Economic Development Administration. These funds may be used for a variety of store upgrades, startup costs, and other business investments.

In November, Investors Bank opened a full-service branch in the MLK Hub and launched a collaborative loan program with the city. These loans range from $5,000 to $10,000. The bank will forgive a portion of the loan each year as long as the recipient remains in business in the same location and employs Jersey City residents, officials said.

The two new loan programs, developed with the Jersey City Office of Innovation, expand on the success of the Jersey City Fund, which launched last September to provide loans to small business ranging from $25,000-$250,000.

"The partnership between our Mayor Steve Fulop and HACA is paying great dividends to our community of Latino small businesses owners in Jersey City," HACA President Hipolito Ovalles said. "These loans represent a major step forward for our members in order to keep their businesses available for the residents of our city.

Contact HACA at 201-800-5422 or 201-332-5129 or send an email to hacajc@gmail.com to learn more about the loan programs and the seminar.