Q: Business Grants and Loans in New Jersey: Funding for Your New Jersey Business

The Garden State can be an expensive place to run a business, which means that successful business owner will likely need to secure funding. We’re here to help. Below, you’ll find state-specific business grant and loans options that are only available to businesses that operate within New Jersey. Take a peek to learn if you are eligible. 


Department or Agency: New Jersey Economic Development Authority

Loan or Grant title: Child Care Facilities Improvement Program

This program provides grants of $50,000 to $200,000 for child care centers looking to improve their facilities. Funds can be used to cover project expenses, and up to 20% of the grant can go toward soft costs like permit fees. To qualify, the child care center must be licensed as of June 4, 2021, and have enrolled at least one child receiving state benefits. Home-based child care centers aren’t eligible for the first phase of the program but will be in subsequent phases. 


Department or Agency: New Jersey Economic Development Authority

Loan or Grant title: Clean Tech Research and Development Voucher Program (Round 2)

This program provides vouchers for up to $25,000 for eligible clean-tech and clean-energy companies in New Jersey. Voucher recipients can work with a participating university or government facility to train workers or use equipment and technicians for testing and development. To qualify, businesses must have no more than 25 full-time employees, complete the project in New Jersey, and meet other criteria.


Department or Agency: New Jersey Economic Development Authority (NJEDA)

Loan or Grant title: Direct Loans

The Direct Loan program provides loans of up to $2 million, which can go toward fixed assets, and loans up to $750,000 to cover working capital. To qualify, businesses must be at least two years old. They also must commit to keeping or creating at least one full-time job for every $65,000 of NJEDA funding within two years. Home-based businesses are ineligible. 


Department or Agency: New Jersey Department of Environmental Protection

Loan or Grant title: It Pays to Plug In: NJ’s Electric Vehicle Charging Grant Program

This program provides grants to cover some of the costs of purchasing, installing, and maintaining electric vehicle charging stations. Grants can go up to $750 per Level 1 charging port or $4,000 per Level 2 charging port. The following entities may apply:

  • Multi-unit private residential dwellings
  • Businesses
  • Governments
  • Nonprofit organizations
  • Educational institutions

Department or Agency: New Jersey Economic Development Authority

Loan or Grant title: Small Business Fund

This fund provides loans for New Jersey-based small businesses that are minority-owned or women-owned. The loan maximum is $500,000. Small businesses must be in operation for at least one year before applying, while not-for-profit corporations must be at least three years old. The loan funds can be used for fixed assets and working capital.


Department or Agency: New Jersey Economic Development Authority

Loan or Grant title: Main Street Lenders Grant

This program provides grants to micro business lenders, which can create new business loan products, supplement existing loans, or provide technical assistance to micro businesses. Lenders may apply for grants up to $1 million (for lending) and $500,000 (for technical assistance programs). 


Department or Agency: Small Business Association (SBA) Community Advantage 

Loan or Grant title: Jersey City Fund

This loan is part of the SBA Community Advantage Program and provides loans of $25,000 to $250,000, with preference given to minority- and women-owned businesses. Loan funds can be used for expenses such as equipment purchases, inventory expansion, and hiring new workers.


Department or Agency: New Jersey Economic Development Authority

Loan or Grant title: NJ Ignite

This program provides funds to collaborative workspaces, which then offer the funds as grants to small businesses in New Jersey. The grants can cover up to six or more months’ worth of rent for technology and life science companies with 10 or fewer employees. 


Department or Agency: New Jersey Department of Environmental Protection

Loan or Grant title: NJ Clean Construction Program

This program provides grants of up to $100,000 to improve or replace construction equipment, with the goal of reducing diesel emissions and improving air quality. All business types and governmental entities that own non-road construction equipment and use it for construction projects in New Jersey may qualify.


Department or Agency: New Jersey Economic Development Authority

Loan or Grant title: Small Business Improvement Grant

This program reimburses the costs associated with making building improvements or purchasing new furniture, fixtures, and equipment. Small businesses may qualify if they meet certain criteria, such as paying at least 120% of the minimum wage rate. The project must cost at least $5,000 and must have commenced on or after March 9, 2020. 

Apply here.


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