Small & Mid-Sized Business

Access

Access is a pilot lending program that provides financing to small businesses in New Jersey - either in the form of direct loans through EDA, or through loan participations or guarantees in partnership with an EDA Premier Lender. 

Access is different from other EDA financing programs in that it provides greater flexibility to borrowers by placing greater emphasis on the borrower's cash flow and less emphasis on hard collateral.

Micro Business Loan Program

The Micro Business Loan Program makes financing of up to $50,000 available to for-profit businesses legally registered to do business in New Jersey, with a business location in New Jersey, home-based businesses and non-profits in existence and operating for at least two years, who have annual revenues in the most current fiscal year of no greater than $1,500,000, and 10 full-time employees or less at time of application.

Startup businesses in existence and operating between 6-12 months are eligible for financing but must provide the Authority with a business plan and five-year projections.

Micro Business Loan Program (En Espanol)

El Micro Business Loan Program pone a disposición un financiamiento de hasta $50,000 para las empresas con ingresos anuales en el año fiscal más reciente de no más de $1,500,000 y 10 empleados o menos de tiempo completo al momento de la solicitud. El financiamiento se puede usar para inventario, compra de equipamiento o capital de trabajo. Se puede condonar el diez por ciento del monto del préstamo aprobado si la empresa sigue abierta y en funcionamiento 12 meses a partir de la fecha de cierre del préstamo.

Premier Lender Program

The Premier Lender Program creates new opportunities for small businesses and EDA’s lending partners by providing new, low-cost financing opportunities with faster turnaround.

If your small business is discussing potential financing with one of EDA’s Premier Lender banks, EDA’s participation or guarantee of a portion of the financing can lower the cost of borrowing for your business.

Direct Loans

New Jersey businesses in need of financing and committed to job creation/retention may be eligible for direct loans through EDA when financing is not available under other EDA financing programs.

CDFI Loan to Lender Program

Through the CDFI Loan to Lender Program, NJEDA provides financing to qualified Community Development Financial Institutions (CDFIs), for the purposes of administering term loans or lines of credit to qualified micro-enterprises and small businesses, some of which may not be able to secure traditional bank financing.

Premier CDFI Program

Through the Premier CDFI Program, NJEDA can provide small businesses with loan participations, loan guarantees, and line of credit guarantees in partnership with designated Premier Community Development Financial Institutions (CDFIs). 

Small Business Bonding Readiness Assistance Program

New Jersey Economic Development Authority (NJEDA) has partnered with The African American Chamber of Commerce of New Jersey (AACCNJ) for the Small Business Bonding Readiness Assistance Program. The program is designed to help construction business needs, providing comprehensive technical assistance, supportive services and access to capital. 

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 direct loans under the Small Business Fund.

Small Business Lease Assistance Program

The Small Business Lease Assistance Program offers reimbursement of a percentage of annual lease payments to for profit businesses and non-profit organizations in eligible areas that plan to lease between 500 – 5,000 s.f. of new or additional market-rate, first-floor office, industrial or retail space for a minimum 5-year term.

Small Business Services

In addition to the millions of dollars in funding EDA administers as loans and loan guarantees to New Jersey small businesses, EDA also partners with several organizations that provide a wide array of services to New Jersey small businesses and entrepreneurs.

Wineries & Vineyards

Eligible New Jersey wineries and vineyards can now access financing through the NJEDA.