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Direct Loans

New Jersey businesses in need of financing and committed to job creation/retention may be eligible for direct loans through the NJEDA when conventional financing is not available.
  • Dollar Amount

    Up to $2 million for fixed assets *

    Up to $750,000 for working capital

  • Uses

    Fixed assets or working capital

  • Benefits

    Lower interest rates

    Longer terms

  • Eligibility

    Businesses must commit to the creation or retention of one full-time job for every $65,000 of NJEDA exposure within two years

Based on the 5-year US Treasury or floor of 2%, whichever is higher, with basis point additions for credit risk.


  • Application fee: $1,000
  • Commitment fee: 0.875% of loan amount
  • Closing fee: 0.875% of loan amount

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 NJEDA at time of closing, NJEDA will not proceed with closing.

* Pursuant to P.L.2017, c.261, direct loans of up to $3 million may be available to qualified businesses in targeted urban centers, regional centers, and metropolitan planning areas. 

** All fees are non-refundable

Projects utilizing NJEDA financial assistance for construction related costs are subject to state prevailing wage requirements.
Effective April 1, 2020 all construction contracts in which prevailing wage applies must provide proof of valid NJ Department of Labor Construction Registration Certification. Please email PWCR@dol.nj.gov if you have any questions about this requirement. Please be advised that a valid Contractor Registration Certificate is required to perform construction on this NJEDA financially assisted project.