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NJ
Premier Lender Program
NJEDA partnership with banks providing loan participations and guarantees up to $2 million for fixed assets and $500,000 for working capital. Reduces lender exposure to support business growth.
About this program
Up to 50% of bank loan amount as participation/guarantee. Total NJEDA exposure capped at $2.75M.
Eligibility
NJ-based businesses and nonprofits seeking financing through NJEDA Premier Lender banks. Must demonstrate 1.25x debt service coverage and provide fixed assets as collateral. Job creation requirement: 1 FT job per $65,000 NJEDA exposure within 2 years. Home-based businesses ineligible. Cannabis license holders ineligible.
Funding Categories
Working Capital / Fixed Assets