NJEDA’s Main Street Micro Business Loan – Info Session
The New Jersey Economic Development Authority’s (NJEDA) Main Street Micro Business Loan will provide low-cost financing to New Jersey micro businesses in need of working capital to support future business operating expenses. The Main Street Micro Business Loan, which succeeds the Micro Business Loan Program established in 2019, will offer financing of up to $50,000 to eligible micro businesses in New Jersey that have no greater than $1.5 million in annual revenues and 10 or fewer full-time employees at the time of application and three months prior to the date of application. The NJEDA will begin accepting applications for the program on Thursday, October 6, 2022 at 10:00 a.m. EDT. Eligible applicants include for-profit, non-profit, and home-based businesses registered to do business in New Jersey with a business location (including a home office) in New Jersey. The program terms have been broadened to enable support for more micro businesses, offering flexible loan terms and a generous forgiveness component.