EDA Products - Product Listing

Product Fees and Interest Rate Pricing:

The EDA charges application and processing fees for its products, details of which are captured in the individual product information pages found on our website.

For its loan products, the EDA also charges a fixed or variable interest rate that has an interest rate floor for the specific product, and which is determined for individual loans at the time of closing using various other criteria. Interest rate floors utilize nationally recognized financial indices such as the 5 Year United States Treasury or the Prime Rate as published in the Wall Street Journal. For fixed and variable rates loans, adjustments will be made to the base rate and are calculated based on factors that involve the applicant's creditworthiness, project public policy criteria, including number of jobs to be created and the leveraging of total project costs to public dollars, and amortization. Please refer to product information pages for current interest rate floors.

For a full description of a specific EDA program, click on the product name in the chart below or Product Listing in the left navigation.

EDA Products Overview
Bond Financing The EDA issues conduit tax-exempt private activity bonds, the proceeds of which are used to provide low-interest, fixed-asset loans. Borrowers must meet the eligibility requirements outlined in the Internal Revenue Code (IRC) in order to qualify. Taxable bonds are also available for a wide variety of businesses. Taxable bonds offer similar flexibility in structuring rates and terms but are not subject to the restrictions placed on tax-exempt financing under the IRC.
Brownfields and Contaminated Site Remediation Program A developer in the state in need of financial assistance to clean up and redevelop polluted sites and closed municipal landfills may be eligible to recover up to 75% of approved costs associated with the remediation effort.
Business Retention and Relocation Assistance Grant (BRRAG) Tax Credit Certificate Transfer Program The purpose of this program is to allow businesses in New Jersey with unused amounts of BRRAG tax credits to surrender those credits to other corporations desiring such credits.
Economic Redevelopment and Growth (ERG) Grant ERG provides incentive grants to developers, businesses, and owners to address redevelopment project financing gaps. The program utilizes up to 75% of the incremental increase in certain state and local revenue sources attributed to the project to provide gap financing of up to 20% of the total project cost, paid out over a period of up to 20 years. Redevelopment projects in qualifying areas that have secured a municipal ordinance and demonstrated sufficient net benefits may be eligible for assistance. ERG is available to shovel-ready projects that have not commenced any construction at the site of a proposed redevelopment project prior to submitting an application. In addition, a developer/owner is required to make a minimum capital investment of 20% of the project’s total cost.
Edison Innovation Angel Growth Fund  Up to $250,000 in subordinated convertible debt financing is available to technology companies with minimum trailing 12 month commercial revenues of $500,000 that have received 2:1 match funding from an angel investor or angel group within 90 days prior to application.
Edison Innovation Clean Energy Manufacturing Fund (CEMF) Up to $3.3 million in grants and loans are available to qualified manufacturers of Class I renewable energy or energy efficiency systems, products or technologies. Funds may be used for project assessment and design, and project construction and operation.
Edison Innovation Green Growth Fund (EIGGF) Technology companies with Class I renewable energy or energy efficiency products or systems that have achieved ‘proof of concept’ and successful independent beta results, have begun generating commercial revenues, and will receive 1:1 match funding by time of loan closing may be eligible for up to $2 million in loans with 50%, up to $1,000,000, that may be converted to a performance grant.
Edison Innovation Growth Stars Fund  Follow-on funding up to $500,000 in subordinated convertible debt financing is available to Edison portfolio companies with minimum trailing 12 month commercial revenues of $2 million that have received 1:1 match funding from an angel investor/group or venture capital firm within 90 days prior to application.
Edison Innovation VC Growth Fund  Up to $500,000 in subordinated convertible debt financing is available to technology companies with minimum trailing 12 month commercial revenues of $500,000 that have received 1:1 match funding from a venture capital firm within 90 days prior to application.
Energy Sales Tax Exemption for Certain Counties This program provides an energy sales tax exemption for the retail sales of electricity and natural gas and their transport to manufacturing businesses in Salem County.
Fund for Community Economic Development The Fund of Community Economic Development program provides loans and loan guarantees up to $750,000 to support community and economic development initiatives in New Jersey's urban centers.
Grow NJ Assistance Program Grants of corporate business and insurance premiums tax credits for businesses creating or retaining jobs and making a capital investment in a qualified incentive area.
Hazardous Discharge Site Remediation Fund (HDSRF) The NJDEP works with the EDA to provide loans, grants, and matching grants to public, private, and not-for-profit entities for the investigation and/or remediation of known or suspected contaminated sites.
Municipal Landfill Closure and Remediation Reimbursement Program An eligible developer seeking financial assistance in the closure, remediation and redevelopment of municipal landfill sites in NJ may be eligible for reimbursement of 75% of the closure or clean up costs.
New Jersey Business Growth Fund Credit-worthy companies with revenues under $30 million operating in New Jersey that are creating or retaining jobs in New Jersey, may qualify for up to $2 million through this joint program with PNC Bank.
Petroleum Underground Storage Tank Program - Leaking Tanks Commercial & Residential The Petroleum Underground Storage Tank Program provides grants to business owners/operators and residential property owners who have less than 10 tanks on site and are required by law to upgrade, close, and remediate discharge from those tanks.
Petroleum Underground Storage Tank Program - Non-Leaking Tanks Commercial, Residential & Not-for-profit Grant and loan funding is available to business owners or residential property owners that must upgrade, close, and remediate discharge from petroleum underground storage tanks. Applicant must have less than 10 tanks on site and net worth must not exceed $2,000,000.
Premier Lender Program The Premier Lender Program creates new loan opportunities for the EDA's lending partners by providing below-market interest rates with flexible terms for their commercial and not-for-profit clients in New Jersey. Fast turnaround from approval to closing provides strong incentives for borrowers while the EDA's exposure reduces the lender's risk.
Sales and Use Tax Exemption Program This program allows companies to make purchases for construction and renovation of their new business location without having to pay state sales tax.
Small Business Fund Expedited approvals of loans up to $300,000, which may be used for fixed assets or working capital, are available to credit-worthy small, women, and minority-owned businesses that have been in operation for at least one year and not-for-profit corporations in operation for at least three full years.
Technology Business Tax Certificate Transfer Program      Qualified biotechnology and technology companies may be eligible to sell unused net operating losses and R&D tax credits to unrelated profitable corporations for at least 80% of their value, up to a maximum lifetime benefit of $15 million. 
Urban Enterprise Zones (UEZ) Energy Sales Tax Exemption Sales tax exemption on energy and utility services is available to UEZ certified manufacturers with at least 250 full-time employees, 50% of whom are involved in the manufacturing process.