Small Business Fund

Welcome to NJEDA’s Online Application for the Small Business Fund Program

The Small Business Fund Program is part of a suite of NJEDA financing solutions designed to increase access to capital and support the growth of small businesses in New Jersey

Loan Features:

• Up to $500,000 for fixed assets (owner-occupied commercial real estate and equipment) or working capital for inventory and operations
• Loan terms of up to 30 years, based on loan purpose and collateral type
• Fixed interest rates based on the 5-year U.S. Treasury (or 1% floor, whichever is higher), with basis point additions for credit risk
• Up to 100% loan-to-value for real estate and 90% for equipment

Eligibility Requirements:

• Must provide fixed asset collateral(real property or equipment) to secure the loan
• Demonstrate the ability to repay the loan with a Global Debt Service Coverage Ratio of at least 1.0x (Non-profits at least a 1.0x historical Debt Service Coverage Ratio)
• For Profits must be in operation for at least one full year and not-for-profits for at least 3 years
• Have no more than $3 million in total revenue
• All applications are subject to underwriting and credit approval. Additional requirements may apply

Application Fee:

• There is a $300 non-refundable fee due upon submission of your application.

Before Applying: 

• It is recommended that you review the Application Checklist 
• Submitting all applicable documents listed in the Application Checklist will help ensure your application is complete and avoid delays in processing.
• You will also be asked to provide the name of your NJEDA Business Banking Officer when completing your application.
• If unsure of who your NJEDA Business Banking Officer is, please contact us at businessbanking@njeda.gov for assistance.