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Small Business Fund

Creditworthy small, minority-owned or women-owned businesses in New Jersey that have been in operation for at least one full year and may not have the ability to get bank financing, or not-for-profit corporations that have been operating for at least three full years, may be eligible for assistance under the Small Business Fund.

  • Dollar Amount

    Small businesses: Up to $500,000

    Not-for-profits: Up to $500,000 with 1.0X historical debt service coverage

  • Uses

    Fixed assets or working capital

  • Benefits

    Expedited approvals

    Fixed interest rates

  • Eligibility

    Small businesses must have been in operation for at least one full year, and not-for-profits for at least three full years

    Businesses must have no more than $3 million in total revenue to be eligible for the Small Business Fund.

Program Details:
An expedited approval process provides financial assistance to qualified businesses through direct loans, participations or guarantees with a fixed interest rate.


  • Application fee: $300
  • Commitment fee: 0.5% of the loan amount
  • Closing fee: 0.5% of the loan amount
  • Guarantee fee: Up to 0.5% sized to percentage guarantee required, not to exceed 0.5%. (For example, 25% guarantee will require a 0.25% fee, 50% guarantee will require a 0.5% fee.)

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.

* 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.