Economic Development

Resources

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Loans


  • Direct Loans - Direct Loans - NJEDA– Loans up to $2M on fixed assets (real estate and equipment) and $750K for working capital. For New Jersey businesses in need of financing and committed to job creation/ retention may be eligible for Direct loans through the NJEDA when conventional financing is not available.
  • Small Business Fund - Small Business Fund - NJEDA – Fixed Asset (real estate or equipment) or Working Capital financing up to $500K (min $100,000). For New Jersey-based small businesses in operation for at least one full year with revenue less than or equal to 3 million; not-for-profits for at least 3 years.
  • Premier Lender Program – Premier Lender Program - NJEDA - NJEDA partners with participating lenders to offer loans and guarantees to businesses and non-profits to overcome financial obstacles. 
  • NJ LEND- NJ LEND - NJEDA- 3-year pilot program designed to expand NJEDA’s lending capacity to further support the growth and stability of New Jersey-based businesses. Eligible businesses can access up to $5 million in financing to purchase or refinance owner-occupied commercial real estate, acquire equipment, or secure working capital. Through direct NJEDA loans or partnerships with NJEDA-enrolled Premier Lenders, NJ LEND broadens financing options for both for-profit and non-profit businesses, helping them manage the costs most critical to their operations.

  •  NJ Capital Access Fund - New Jersey Capital Access Fund The terms are between 36 and 60 months , borrow up to $250,000, no origination fees, no penalties  and a fixed interest rates for the life of the loan.

 NJEDA also has options for Bond Financing:

  • Bond Financing - Bond Financing - NJEDA - Creditworthy manufacturing and processing companies, 501(c)(3) not-for-profit organizations, and exempt facilities may be eligible for long-term financing under the Bond Financing Program.

Grants 
 

NJEDA Main Street Acquisition Support Grant - Main Street Acquisition Support Grant - a pilot product under the Main Street Recovery Fund that will offer a grant of up to $50,000 to reimburse an eligible NJ small business for closing costs related to a New Jersey commercial property that the business purchased to operate from.

Small Business Lease Grant-Small Business Lease Grant - NJEDA- 

  • Open to NJ small businesses with a new 5-year (or longer) lease of street level space, between 250 and 10,000 square feet. Amended leases may be eligible if additional space is added.
  • Lease must be executed within the previous 12 months from the grant application date.
  • Grant award is 20% of annual lease payment upon grant approval, and a second 20% payment of the annual lease amount after one year. 

Small Business Improvement Grant-Small Business Improvement Grant - NJEDA

  • Open to NJ small businesses, nonprofits, and home-based businesses.
  • Reimbursement grant for interior and exterior renovations, the purchase and installation of new furniture, fixtures, and equipment.  The work must be completed, and items paid for within two years from the date of application. 
  • Reimbursement is 50% of total cost, up to $50,000 maximum award. 

E-commerce support grant-Small Business E-Commerce Support Program - NJEDA- 

  • Open to NJ restaurants, retail, and personal care businesses that operate from a commercial location.
  • Free E-Commerce and digital marketing consulting such as website development, website optimization, E-Commerce platform, online ordering, online appointment booking, and digital marketing plans.  
  • This program is consultant led; business owners should reach out directly to approved vendors to get started. There is no online application through the NJEDA.