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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 assistance under the Small Business Fund.


  • Dollar Amount

    Small businesses: Up to $500,000 for credit scores of at least 680


    Not-for-profits: Up to $500,000 with 1.0X historical debt service coverage

  • Uses

    Fixed assets or working capital

  • Benefits

    Expedited approvals


    Fixed interest rates

  • Eligibility

    Small businesses must have been in operation for at least one full year, and not-for-profits for at least three full years

Program Details:
An expedited approval process provides financial assistance to qualified businesses through direct loans, participations or guarantees with a fixed interest rate.

Fees*:

  • Application fee: $300
  • Commitment fee: 0.5% of the loan amount
  • Closing fee: 0.5% of the loan amount
  • Guarantee fee: Up to 0.5% sized to percentage guarantee required, not to exceed 0.5%. (For example, 25% guarantee will require a 0.25% fee, 50% guarantee will require a 0.5% fee.)

Division of Taxation Tax Clearance Certificate required.  Certificates may be requested through the State of New Jersey’s Premier Business Services (PBS) portal online.

  • Under the Tax & Revenue Center, select Tax Services, then select Business Incentive Tax Clearance.
  • If the applicant’s account is in compliance with its tax obligations and no liabilities exist, the Business Incentive Tax Clearance can be printed directly through PBS.

Please note:  It is the applicant/client’s responsibility to maintain a current and clear tax clearance certificate.  If a current and clear certificate is not evidenced to EDA at time of closing, EDA will not proceed with closing.

* All fees are non-refundable