There are several programs currently available with NJEDA – Refer to the information below and the links for further details.
Small Business improvement grant
The Small Business Improvement Grant provides reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures, and equipment.
Award Size – Reimbursement of up to 50% of total project costs incurred up to $50,000. Only one award is allowed per Employer Identification Number(EIN) for the life of the program.
Eligibility – Businesses and nonprofits may be reimbursed for capital improvements, or purchase and/ or installation of new furniture, fixtures, and equipment. Landlords are not eligible.
Applicants are limited to one application per federal EIN. Applicants operating from multiple locations under a single EIN would be limited to one application under the sole EIN, but may pool project costs from multiple locations into a single application. Applicants must:
• Rent or own and operate from facility.
• Meet SBA definition of a Small Business – determined by employee count and NAICS code.
• Provide a current tax clearance certificate prior to approval.
• Be in good standing with New Jersey Department of Labor and Department of Environmental Protection.
• Certify at time of application that they are not in default of any other EDA or State assistance.
• Certify at application that they are willing to pay wages that are the greater of $15/ hour or 120% of the minimum wage rate. Tipped employees are required to be paid 120% of minimum wage rate.
• Remain in the location for at least two years for grants up to $25,000, or at least four years for all other grant award amounts.
The Small Business Lease Grant supports the growth and success of small businesses and nonprofits by providing grant funding to cover a portion of lease payments.
Award size – Two grant awards of 20 percent of the annual lease payment on a minimum 5-year lease term:
• First disbursement will be made after execution of grant agreement, for an amount equal to 20 percent of the annual lease payment.
• Second disbursement will be made after 12 months of lease payments have been paid by the applicant, for an amount equal to 20 percent of the annual lease payment.
Eligible Applicants – This program is open to businesses and nonprofits. Applicants with multiple locations are limited to one application per location. Applicants cannot terminate an existing lease and enter into a new lease for the same square footage in order to pursue this grant. Applicants must:
• Be a commercial business, nonprofit, or operator of an incubator.
• Meet SBA definition of a Small Business – determined by employee count and NAICS code.
• Provide a current tax clearance certificate prior to approval.
• Provide certification from the landlord showing they are current on lease payments.
• Be in good standing with New Jersey Department of Labor and Department of Environmental Protection.
• Certify at time of application that they are not in default of any other NJEDA or State assistance.
• Certify at application that they will pay wages that are the greater of $15/hour or 120% of the minimum wage rate for the term of the grant agreement (five years). Tipped employees are required to be paid 120% of minimum wage rate.
• Commit to remaining in the facility for at least five years.
Small Business E-commerce support program
The NJEDA Small Business E-commerce Support Program provides free consulting and digital marketing consulting services to New Jersey small businesses in the restaurant, retail and personal care industries to assist with website development and website optimization, e-commerce platform, online ordering platform, online appointment booking platform and digital marketing plan.
Award size – Restaurants up to $11,400 / Retail Stores up to $10,800 / Personal Care Businesses up to $11,400
Benefits – Website Design, Development & Implementation / Online Ordering/Appointment Booking Platform Implementation / E-commerce Platform Design, Development & Implementation / Online Marketing Plan Development
Businesses must meet the following, minimum eligibility requirements:
• Restaurant, Retail Store or Personal Care business (e.g., barbershop, hair salon, nail salon, etc.)
• Situated in a commercial location with a physical store front in NJ
• Currently registered to do business in NJ
• Small business as defined by the US Small Business Administration (SBA)
• Able to provide a current NJ Business Assistance or Incentive Clearance Certificate
