Translate
Facebook
X
Instagram
LinkedIn
Youtube
MEDIA CONTACT
Press Release
March 12, 2021
2 minute read

One Month Remains to Apply for NJEDA Brownfields Loan Program


TRENTON, N.J. (March 12, 2020) – There is just one month remaining to apply for the New Jersey Economic Development Authority (NJEDA) Brownfields Loan Program. The program offers low-interest financing of $100,000 to $5 million for all aspects of brownfields revitalization projects, including assessment, investigation, and demolition. It is one of the only funding sources available to cover pre-construction planning, demolition, asbestos, PCB removal, and lead-based paint remediation.

Applications for the Brownfields Loan Program are due Tuesday, April 13th 2021. More information and the application are available at https://www.njeda.gov/bfloans/.

To help potential applicants prepare to apply, the NJEDA is hosting an informational webinar on March 17th 2021. NJEDA Senior Brownfields Advisor Elizabeth Limbrick will provide an overview of the Loan Program and walk through the application. Register for the webinar at https://bfloaninfo.eventbrite.com.   

asdf

About the Brownfields Loan Program

Historically, remediation has been a major barrier to successful brownfield redevelopment projects because of the lack of funding sources available to support site assessment, planning, and cleanup. The Brownfields Loan Program is a unique investment tool that addresses this challenge by filling in these funding gaps to make the remediation phase of revitalization projects financially viable. 

Loans made through the program will be awarded through a competitive application process. Projects will be scored based on details of the brownfield site and the proposed redevelopment project. Projects that promote environmental resiliency, public health, and community well-being will receive higher scores and may also qualify for interest rate reductions if approved for financing.

Projects that receive financing through the Brownfields Loan Program will be eligible for the Brownfields Impact Fund and Brownfields Revitalization Tax Credit programs when they become available.

asdf

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on FacebookTwitter, Instagram, and LinkedIn.

###

SHARE

Related Content

Press Release

March 22, 2024

NJEDA Unveils First Annual New Jersey Global Economic Index

TRENTON, N.J. (March 22, 2024) – The New Jersey Economic Development Authority (NJEDA) today presented the inaugural New Jersey Global Economic Index, a report that highlights, ranks, and analyzes the sources of foreign direct investment (FDI) into New Jersey.

Press Release

March 15, 2024

NOTICE OF CSIT BOARD MEETING – 03/22/2024

A meeting of the Commission of Science, Innovation and Technology (CSIT) Board has been scheduled for Friday, March 22, 2024, at 10:00 am.

Press Release

March 13, 2024

NJ Motion Picture and Television Commission Announces Jon Crowley as New Executive Director

NEWARK, N.J. – The New Jersey Motion Picture and Television Commission (NJMPTVC), part of the New Jersey Economic Development Authority (NJEDA), today announced the hiring of Jon Crowley as its new Executive Director.