Financing & Incentives - Manufacturing Businesses

The New Jersey Economic Development Authority (EDA) offers a multitude of programs to support manufacturing companies located in New Jersey, as well as to attract those companies outside of New Jersey that are seeking to relocate or expand. We have created special programs to help manufacturers reduce costs.

From low-cost, long-term bond financing, to loans, guarantees and incentive grants, the EDA can serve as a one-stop service center for the financing and growth needs of your manufacturing business.

 

Depending on your business goals, the EDA may have a financial solution that can work for you.
What’s Your Business Financing Goal? Here’s What’s Your Business Financing Goal? What the EDA Can Offer*:
To purchase a new location, expand an existing facility, or construct a new facility
  • Loans up to $1.25 million; loan guarantees up to $1.5 million for a total EDA exposure of $2.75 million
  • Grants and loans for brownfields investigation and cleanup
  • Tax-exempt bond financing, starting at $500,000
To cover my operating expenses
  • Loans up to $750,000; loan guarantees up to $1.5 million for a total EDA exposure of $2.25 million
To buy or renovate my machinery and equipment
  • Loans up to $1.25 million; loan guarantees up to $1.5 million for a total EDA exposure of $2.75 million
  • Tax-exempt bond financing, starting at $500,000 to a maximum of $10 million
To grow my business located in an urban municipality
  • Loans of up to $2 million for fixed assets to businesses in one of New Jersey’s urban areas
  • Loans of up to $3 million with favorable rates for fixed assets to businesses in one of New Jersey’s nine designated urban areas (Atlantic City, Camden, East Orange, Elizabeth, Jersey City, Newark, New Brunswick, Paterson, Trenton)
  • Tax-exempt bond financing, starting at $500,000 to a maximum of $10 million
To relocate and grow my business in New Jersey
  • Tax-incentives for creating at least 25 new jobs in New Jersey (10 jobs if in the technology or biotechnology industries)

*All EDA offerings are subject to change, carry restrictions and require certain qualifications.

 

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.

 

 

To learn more about the EDA’s offerings for manufacturers, click here.