Program Type: Loan
Amount: Direct low-cost financing of up to $100,000; 10-year term and amortization, 0% interest rate, Deferred repayments for 24 months
The Small Business Emergency Assistance Loan Program provides direct low-cost financing of up to $100,000 to New Jersey-based businesses and nonprofits that have been negatively impacted by the COVID-19 pandemic.
Applications for the Small Business Emergency Assistance Loan Program (Phase 2) are now closed. Applications were open from Tuesday, August 3rd, 2021 through 3:00 p.m. on Friday, August 13th, 2021 for Stage 1 applicants that have acquired at least 500 square feet of additional space since January 1st, 2021.
Due to the high volume of applications the NJEDA has received during Stage 1, applications for Stage 2 entities will be deferred. Should funding remain available after the NJEDA evaluates all Stage 1 applications, the NJEDA may open the applications for Stage 2 applicants at a later date. If this happens, the NJEDA will send an email notification to all pre-registered Stage 2 applicants.