Financing Programs - Small Business Fund

This program is partially funded through the State Small Business Credit Initiative (SSBCI).

IF YOU ARE: A creditworthy small, minority-owned or women-owned business in New Jersey in operation for at least one full year or not-for-profit corporation in operation for at least three full years.

YOU MAY QUALIFY FOR: Small Businesses - Up to $300,000 for credit scores greater than or equal to 700; Up to $125,000 for credit scores greater than or equal to 650.  Not-for-Profits: Up to $300,000 with 1.1X historical debt service coverage.

TO BE USED FOR: Fixed assets and working capital.

PROGRAM DETAILS: An expedited approval process provides financial assistance to qualified businesses through direct loans or guarantees, with the choice of a variable or fixed interest rate.

The base rate is the 5-Year United States Treasury plus 100 basis points (for fixed rate loans) and Prime minus 150 basis points (for variable rate loans).  The base rate will be adjusted using criteria which includes the applicant's creditworthiness, public policy and amortization.  The interest rate floor for the program is 3.00%.


  • Application fee: $300  
  • Commitment fee:  0.5% of the loan amount
  • Closing fee:  0.5% of the loan amount
  • Guarantee fee: 0.5% of guarantee amount for the number of years of the guarantee, payable at closing 

Division of Taxation Tax Clearance Certificate Application Processing Fee: $75 for standard processing; $200 for expedited processing (response within three business days)    


*All fees are non-refundable.