Last Thursday at 5pm EST, the New Jersey Economic Development Authority (NJEDA) presented a seminar providing some financing options and some grants available to NJ businesses. You can watch the whole video in the link below, but we will give you a couple of the most relevant moments in the seminar:
- NJEDA financing summary (around 2:13)
- Small business fund that provides up to $500,000 for business with revenue of up to $3,000,000. The funds can be used for working capital or fixed assets
- Direct loans of up to $2,000,000 to businesses committed in job creation or retention. The funds can be used for working capital or fixed assets
- Premier Lender program up to $2,000,000 with partnerships with bank and $750,000 line of credit guarantee. The funds can be used for working capital or fixed assets
- NJ Capital Access Fund up to $250,000 for NJ businesses and non for profits
- NJEDA Grants summary (around 15:13)
- Small business lease grant to offset a portion of your lease payments for new or additional space
- Small business improvement grant that covers up to $50,000 of improvements
- Small business e-commerce to hire a digital marketing consulting to help your business in the restaurant, retail and personal care industries
- Main street acquisition support to help with closing cost of up to $50,000
The seminar was added to their more than 200 NJEDA videos library in Youtube – See the video here – Show me the resources
If you do business in New Jersey, reach out to us for more information in resources, financing and grants available to your business.
