Stronger NJ Business Loan Program
Due to the high volume of applications received, new applications are not being accepted for the Stronger NJ Business Loan Program.
The Stronger NJ Business Loan Program was developed to help New Jersey-based businesses or non-profit organizations located within the nine most impacted counties as determined by the federal government (Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean and Union) that:
- Positively impact the economy of their county through either capital investment or the creation or retention of jobs; and/or
- Demonstrate a minimum of $5,000 in Sandy-related physical damage to real property and/or loss or damage of non-perishable and non-consumable inventory.
The loan program, which is being administered by the New Jersey Economic Development Authority (EDA), may also assist New Jersey-based small businesses or non-profit organizations located outside the nine most impacted counties provided that they sustained a minimum of $5,000 in physical damage from Superstorm Sandy.
Eligible businesses and non-profit organizations may be able to receive loans of up to $5 million with 0 percent interest for up to the first 24 months. Loans may be used for renovation, new construction, equipment, and working capital.
For more information about the Stronger NJ Business Loan Program, please visit https://application.njeda.com/strongernjbusinessloan/default.aspx.