The Garden State can be an expensive place to run a business, which means successful business owners will likely need to secure funding. We’re here to help. Below, you’ll find state-specific business grant and loan options that are only available to businesses operating within New Jersey. Take a peek to learn if you are eligible.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
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.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Small Business Fund
This fund provides loans for minority-owned or women-owned small businesses in New Jersey. The maximum loan amount is $500,000. Before applying, small businesses must have been in operation for at least one year, 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 (NJEDA)
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: New Jersey Economic Development Authority (NJEDA)
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 Economic Development Authority (NJEDA)
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.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Angel Match Program
The Angel Match Program matches angel investors’ direct investments in early-stage, product-based technology startups in New Jersey. Eligible companies can get one-to-one matching via unsecured convertible notes ranging from $100,000 to $500,000. To qualify, businesses must be in a targeted sector and have at least two founders, a physical space, and 50% of employees based in New Jersey.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Child Care Facilities Improvement Program – Phase 2
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 (NJEDA)
Loan or Grant title: Edison Innovation Fund
The Edison Innovation Fund supports New Jersey-based tech and life sciences businesses with the potential to grow. Through the program, eligible angel and/or VC-supported technology companies with a minimum trailing 12-month commercial revenues of $2 million can receive up to $500,000 in subordinated convertible debt financing.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Food Equity and Economic Development in New Jersey
This program gives grants between $50,000 and $500,000 to businesses embarking on innovative projects that improve food access and security in New Jersey’s Food Desert Communities (FDCs). To be eligible, companies must have existed for at least two years, and their project must serve residents of one or more of the state’s FDCs.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Food Retail Innovation in Delivery Grant (FRIDG)
The Food Retail Innovation in Delivery Grant (FRIDG) provides grants to New Jersey food retailers to purchase self-contained, temperature-controlled lockers. These lockers should be used for food storage and delivery within designated Food Desert Communities (FDCs). Grants will cover 30-50% of the total project costs, up to $250,000.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Hazardous Discharge Site Remediation Fund
This fund gives loans to businesses that clean up or redevelop contaminated sites (like brownfields) for business purposes. Companies can get loans of up to $500,000. To qualify, businesses must have a net worth of less than $2 million.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Main Street Acquisition Support Grant
This program reimburses eligible New Jersey small businesses for the closing costs they paid when they purchased a commercial property to operate from. The grant amount is up to $50,000. To qualify, businesses must meet the SBA’s definition of a small business, and the closing must have occurred after October 1, 2024.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: New Jersey Clean Energy Loans
This program supports small businesses that need help financing clean energy projects. Companies can get a loan for 50% of their project costs, from $250,000 to $1 million. Minority-owned, veteran-owned, and women-owned businesses are also eligible for 10% loan forgiveness and a lower interest rate if they meet specific requirements.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: New Jersey Manufacturing Voucher Program – Phase 3
This program supports New Jersey manufacturers in purchasing the equipment they need to expand and improve their profits. Grants reimburse 30-50% of the cost of eligible equipment, up to $250,000. Certified women-owned, veteran-owned, and minority-owned businesses are also eligible for grant bonuses.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: NJ Accelerate
The Accelerate program encourages New Jersey entrepreneurs to participate in accelerator programs. Eligible graduates can receive up to $250,000 in convertible notes with warrants, plus grant rent for up to six months.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: New Jersey Capital Access Fund
New Jersey’s Capital Access Fund gives businesses working capital with fixed interest rates and flexible spending purposes. Businesses can borrow up to $250,000 with no prepayment penalties and rates from 8.5–10.5%. To be eligible, companies need to operate in New Jersey, have fewer than 50 employees, have an annual revenue of under $10 million, have a steady cash flow, and have been in business for at least one year.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: NJ Cool
NJ Cool is a pilot program providing financial assistance to commercial, industrial, and institutional building owners and tenants undertaking retrofit construction projects that reduce operating greenhouse gas emissions from existing buildings in Newark, Edison, and Atlantic City. Eligible businesses can get grants that cover up to 50% of a project’s total costs, with a maximum award of $1 million.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: NJ Entrepreneur Support Program
This program supports startups in high-technology targeted industries in New Jersey. Through the program, eligible startups can get a guarantee on an investor’s convertible note for advanced working capital. The guarantee cap is $400,000. To be eligible, the startup must have at least 50% of its employees in New Jersey, a corporate headquarters in the state, and fewer than 225 total employees.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: NJ Rise
The New Jersey Re-assigning In State Employees (NJ RISE) Program incentivizes businesses to re-assign New Jersey residents who are working in another state to a New Jersey location. Businesses can get grants to cover relocation costs.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: NJ Premier Lender Program
This program is designed to help New Jersey businesses expand. Eligible businesses can get a loan of up to $2 million for fixed assets and up to $750,000 for working capital. To qualify, businesses must commit to retaining or creating one new full-time job for every $65,000 in loans they receive.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Small Business Lease Grant
This program supports small businesses in growing by providing grants that cover their lease costs. Eligible businesses can get a grant of 20% of their total annual lease payment. The lease must be for a five-year term and occupy at least 250 square feet of space.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Small Business Liquor License Grant
This grant is available to New Jersey businesses that have obtained an Inactive Plenary Retail Consumption Liquor License. Eligible businesses will receive 50% of the license’s purchase price, up to $100,000.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: State Small Business Credit Initiative (SSBCI) Life Sciences Venture Fund
This fund supports life sciences companies in New Jersey that need capital to grow. NJEDA will match funds (up to $5 million) that companies receive from venture funds like Signet Healthcare Partners and Tech Council Ventures. To be eligible, businesses must be registered in New Jersey, have a primary focus on life sciences innovation, demonstrate proof of concept for the product/company, and have a scalable business model.
Department or Agency: Jersey City Economic Development Corporation (JCEDC)
Loan or Grant title: EDA RLF Loan Program
The Jersey City Economic Development Corporation (JCEDC) offers local businesses loans of up to $25,000 for up to six years at a 4.5% interest rate. Eligible businesses can use the funds for equipment, marketing, leasehold improvements, and working capital.
Department or Agency: Greater Newark Enterprises Corporation (GNEC)
Loan or Grant title: Business Builder Loan
The Greater Newark Enterprises Corporation (GNEC) offers loans of $30,000 to $100,000 to eligible Newark-based businesses.
Department or Agency: Greater Newark Enterprises Corporation (GNEC)
Loan or Grant title: DreamMaker Loan
The GNEC also gives loans from $1,000 to $30,000 to eligible businesses in Newark that need a smaller amount of capital.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: Golden Seeds Angel Investments
Golden Seeds—a venture capital firm with a focus on women-led startups—invests in women entrepreneurs in New Jersey. The investment amount ranges from $250,000 to $2 million. To qualify, startups must be in the beta stage of development, have proof of concept revenue, have a pre-money valuation below $5 million, and annual run-rate revenue of over $1 million.
Department or Agency: New Jersey Economic Development Authority (NJEDA)
Loan or Grant title: SBIR/STTR Direct Financial Assistance Program – Round 5
NJEDA provides direct funding to businesses participating in the federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs. Eligible businesses can receive $25,000 in direct funding and $50,000 in bridge funding.
Department or Agency: City of Atlantic City
Loan or Grant title: Atlantic City Small Business Grant Program
Atlantic City provides grants of up to $10,000 to eligible small businesses. Small businesses can use the funds for working capital costs like payroll, mortgage payments, utilities, and advertising. To qualify, you must be located in Atlantic City.
Department or Agency: East Trenton Collaborative
Loan or Grant title: Small Business Improvement Program
This program supports East Trenton business owners who want to start a new operation within the city. The Small Business Improvement Grant—which offers up to $6,000—is available to existing businesses with five or fewer employees. The Small Business Startup Grant—which offers up to $2,000—is available to prospective entrepreneurs who need capital to cover startup costs.
Department or Agency: Mercer County Office of Economic Development
Loan or Grant title: Mercer County Business Grants
Mercer County is launching two new business grant programs starting in 2025. The Revitalize and Grow Grant will help Mercer businesses improve their signage and façade, while the Business Builder Rebate Grant will help Mercer County businesses submit specific business-related expenses for grant rebates.
