The fund provides loans to New Jersey-based small, minority-owned or women-owned businesses with intent of using the funding as fixed assets or working capital.
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-or-profit corporations that have been operating for at least three full years, may be eligible for assistance under the Small Business Fund.
Available Funding:
Small businesses: Up to $500,000
Not-for-profits: Up to $500,000
Funding must be used for fixed assets or working capital
Terms & Eligibility:
Small businesses must have been in operation for at least one full year, and not-for-profits for at least three full years. Businesses must have no more than $3 million in total revenue to be eligible for the Small Business Fund.
Program Administrator:
New Jersey Economic Development Authority – EDA