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New Jersey Advantage Program

Creditworthy New Jersey business in need of financing and committed to job creation/retention in New Jersey may be eligible for financing through the New Jersey Advantage Program, a joint program of the EDA and TD Bank.
  • Dollar Amount

    Up to $5 million TD Bank term loan with a partial, subordinate EDA guarantee of up to 50% (not to exceed $2 million for fixed assets and $1.5 million for working capital.)

    Up to $5 million TD Bank line of credit with partial, subordinate EDA guarantee of up to 50%, not to exceed $500,000

  • Uses

    Fixed assets, working capital or refinancing of existing debt

  • Benefits

    Lower interest rates

    Optional fixed or variable below-market interest rates

  • Eligibility

    See "Program Details" below

The approval process involves both TD Bank and the EDA, and both organizations will work together in making a credit decision on each loan application. Applicants under this program must meet specific eligibility requirements including:

  • Applicant must be doing business in New Jersey
  • Create or retain jobs
  • 1.1X Historical/Global Debt Service Coverage Ratio.
  • Loan-to-value up to 80%.
  • Must be authorized to do business in New Jersey. A Corporate Status report will be obtained by EDA to confirm this.


  • .25-.50 discount off of TD prevailing rates
  • Up to 10 years for commercial real estate, machinery, or equipment loans.
  • 1 year term for lines of credit.


  • Application fee: $1,000
  • Commitment fee: $750
  • 25 bps above standard EDA guarantee fee which is set at 1 bps for each percentage of guarantee times the amount of guarantee times number of years of the guarantee. (i.e. 30% guarantee would use a calculation of 30 bps + 25 bps for a total of 55 bps times the guarantee amount times # years.)
  • Commitment extension: $750
  • $1,000 modification fee for guarantee renewals

Division of Taxation Tax Clearance Certificate required.  Certificates may be requested through the State of New Jersey’s Premier Business Services (PBS) portal online.

  • Under the Tax & Revenue Center, select Tax Services, then select Business Incentive Tax Clearance.
  • If the applicant’s account is in compliance with its tax obligations and no liabilities exist, the Business Incentive Tax Clearance can be printed directly through PBS.
Please note:  It is the applicant/client’s responsibility to maintain a current and clear tax clearance certificate.  If a current and clear certificate is not evidenced to EDA at time of closing, EDA will not proceed with closing.

* All fees are non-refundable.