Small Business Specific

Small Business E-Commerce Support Program: Offers free e-commerce and digital marketing consulting services to small businesses in the restaurant, retail, and personal care industries that operate from a commercial location. The NJEDA has partnered with consultants to provide services such as website development and optimization, e-commerce and online ordering platforms, online appointment booking platforms, and digital marketing plans.

Small Business Lease Grant: Provides grant funding to cover a portion of lease payments for businesses and non-profits leasing new or additional space. 

Small Business Bonding Readiness Assistance Program: Offers a range of resources, including classes, workshops, and strategic counseling sessions, designed to help small businesses across all sectors with a variety of relevant topics. These topics include bonding and insurance, business development, financial presentation, construction and contract law, construction management, estimating, and credit. Upon completion of the program, all participating businesses receive a Bonding Readiness Segment Report that provides an in-depth assessment of their strengths and weaknesses to help them plan for the future.

Small Business Fund: Provides financing for creditworthy small, minority-owned or women-owned businesses in New Jersey in operation for at least one full year who may not have the ability to get bank financing, or not-for-profit corporations in operation for at least three full years may be eligible for assistance under the Small Business Fund.

Small Business Improvement Grant: Offers reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures, and equipment.

NJEDA Small Business Lease Grant: Provides grant funding to support small businesses and non-profits in their growth by covering a portion of lease payments for new or additional leased spaces. 40% of the grant is reserved for eligible businesses located in Opportunity Zone eligible census tracts.

New Jersey Clean Energy Loans: NJ CELs: Provides loans ranging from $250,000 to $10 million for small businesses seeking to finance clean energy projects for projects requesting a total loan amount of $500,000 to $20 million. The program aims to support the state’s energy transition, unlock capital for small businesses and startups, and promote participation from minority-, woman-, and veteran-owned businesses. 

NJEDA Direct Loans: Provides direct loans to New Jersey businesses that require financing and are committed to job creation/retention, especially when other financing options are not available. The loan amount can be up to $2 million for fixed assets and up to $750,000 for working capital. Direct loans have lower interest rates, longer terms, and a fixed rate. The loan terms are up to 5 years for working capital, up to 10 years for new equipment, 5 years for used equipment, and 20 years for real estate transactions. Businesses in targeted urban centers, regional centers, and metropolitan planning areas may qualify for loans up to $3 million.

NJEDA Main Street Micro Business Loan: Provides low-cost financing of up to $50,000 to eligible micro-businesses in New Jersey with ten or fewer full-time employees and annual revenues no greater than $1.5 million. Financing can cover future operating expenses such as inventory, equipment (up to $1,999.99 without installation or construction work), and working capital. The loan has a 10-year term with a 2% interest rate, and no interest or payments are due for the first year. Additionally, $8 million will be reserved for eligible businesses and nonprofits in eligible Opportunity Zones census tracts.

NJEDA Recovery Loan Loss Reserve Fund: Provides 50% loan guarantees to qualified Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) that create or have an existing eligible loan program meeting NJEDA and federal State Small Business Credit Initiative (SSBCI) criteria. CDFIs and MDIs can receive an allocation of up to $2.5 million per entity, with a performance period to assess the potential for an increased allocation and utilization of the program. The loan guarantee is provided throughout the term of the loan in case of a future default, allowing CDFIs/MDIs to take on more risk and exposure and do more lending. CDFIs/MDIs must register eligible loans with NJEDA within 90 days after loan closing, and only loans meeting the NJEDA Master Guarantee Agreement terms will be eligible.

NJEDA Main Street Lenders Grant: Offers grants to micro business lenders to create or supplement loan products for micro businesses. Lenders may also receive additional grant funding for technical assistance to help these businesses qualify for loan products. The maximum amount for this grant is $1.5 million per eligible entity, with $1 million for lending and $500,000 for technical assistance.

NJEDA Premier Lender Program: Allows the NJEDA to offer: up to 50% of the bank loan amount for fixed asset loans with a maximum NJEDA participation of $2,000,000 and maximum NJEDA guarantee of $1,500,000, where total NJEDA exposure does not to exceed $2,750,000; up to 50% of the bank loan amount for working capital loans and maximum NJEDA participation of $750,000 and maximum NJEDA guarantee of $1,500,000, where total NJEDA exposure not to exceed $2,250,000; up to 50% of the bank line of credit amount; not to exceed $750,000.