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.

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.

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.

Garden State Growth Zone Business Lease Incentive

The Garden State Growth Zone (GSGZ) Business Lease Incentive (BLI) 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.

Garden State Growth Zone Business Improvement Incentive

The Garden State Growth Zone (GSGZ) Business Improvement Incentive (BII) offers grants of up to 50% of total project cost, grant amount not to exceed $20,000, to businesses operating within the first-floor of a commercial corridor in the GSGZ that are planning to make building improvements, with a minimum project cost of $5,000.

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.