New Jersey small business grants and loans for 2025

4 New Jersey small business grants 

New Jersey provides an array of business grants aimed at fostering growth in diverse industries and supporting businesses of all sizes. This valuable, essentially "free" funding can be a significant boost, but competition is often fierce. Carefully review the eligibility criteria and ensure your business qualifies before applying.

So, what grants are available in New Jersey? Business owners in the Garden State should be familiar with the following:

1. New Jersey Small Business Improvement Grant

This program reimburses New Jersey small businesses and nonprofits for up to $50,000 in costs related to building improvements, furniture, fixtures, and equipment purchases. Forty percent of funds are reserved for businesses in Opportunity Zone-eligible census tracts. Business owners can apply online via the NJEDA website.

2. New Jersey Main Street Lenders Grant

Designed to support micro-business lenders, this grant enables them to develop or expand microloan products and provide technical assistance to New Jersey-based small businesses. Eligible lenders need at least 10 years of experience in small and micro-business lending, with funding directed exclusively to New Jersey-based businesses. Lenders should complete an online application via the NJEDA website.

3. New Jersey Small Business E-Commerce Support Program

This pilot program offers free e-commerce and digital marketing consulting services to help small businesses in consumer-facing industries adapt to the online marketplace. Eligible businesses must operate from a commercial location in New Jersey. To apply, contact one of NJEDA's partner consultants through the NJEDA website.

4. New Jersey Small Business Lease Grant

If you’re eyeing a new space or an expansion for your New Jersey small business, consider the Small Business Lease Grant. This grant can help cover your lease payments up to 20% of your annual lease cost. Like other grants, you can apply through NJEDA’s Small Business Services page.

Eligibility requirements for grants in New Jersey

Small business grants in New Jersey consider a variety of different criteria when determining eligibility, but most will use some combination of the following:

• Business size: Since these grants are aimed at small businesses, they often include eligibility caps based on number of employees and/or annual revenue.
• Location: Some grants target businesses located within specific regions or underserved communities in New Jersey.
• Financial need: Many grants require applicants to demonstrate their financial need in the application.
• Industry focus: Grants may focus on serving businesses in specific key industries such as sustainability, technology, or manufacturing.
• Operational history: Certain grants require businesses to already be established and have a certain length of time in operation to be eligible.
• Commitment to initiatives: Some grants are designed for businesses that support community goals such as job creation, environmental sustainability, or innovation.
• Matching funds: Depending on the grant, your business might be required to contribute a certain amount of matching funds.
• Ownership status: Minority-owned, women-owned, and veteran-owned businesses may receive priority consideration for some grants.
• Required documentation: Applicants will often need to submit a business plan, financial statements, or proof of regulatory compliance to apply for some grants.

4 Federal small business grants

Your New Jersey small business may also be eligible for grants from the federal government, such as:

1. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs

The SBIR and STTR programs help support research and development for small businesses in key sectors like healthcare, defense, and energy. Businesses have to meet federal guidelines and work with a federal agency partner, such as the Department of Defense or the National Science Foundation.

2. USDA Rural Business Development Grants

The U.S. Department of Agriculture (USDA) issues Rural Business Development Grants (RBDG) to help rural businesses invest in projects such as training, technical upgrades, and infrastructure improvements. Eligibility guidelines require that the business must operate in an area with a population of fewer than 50,000 people.

3. Minority Business Development Agency (MBDA) Grants

The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) offers grants that help minority-owned businesses flourish. MBDA grants are typically awarded to nonprofit organizations and business development centers, which assist minority entrepreneurs by providing resources such as business training and access to capital.

4. Economic Injury Disaster Loans and Grants

Federal agencies like the SBA and the Federal Emergency Management Agency (FEMA) often make emergency grants and low-interest loans available to businesses that have been affected by economic downturns or natural disasters. 

Additional grant resources for New Jersey businesses

New Jersey business grants may also be available from sources beyond state and federal governments, including:

• Local governments: City and county governments may offer grants that help with business development and economic revitalization.
• Private foundations: Private nonprofit organizations also write grants to businesses that align with their mission, such as sustainability or supporting minority business ownership.
• Corporate grants: Some companies provide grants to help fund entrepreneurship, especially in underserved communities.

How to get a small business grant in New Jersey: Application process

The application process for each grant varies. After identifying the business grant you are applying for, it’s important to follow the specific steps to complete the application. 

Applying for New Jersey grants

These steps will help you understand how to apply for a small business grant in New Jersey.

1. Explore New Jersey grant opportunities

Check the Grants page on NJ.gov to learn about available grants for business owners.

2. Assemble the documentation you need

Grant applications typically require documents such as income statements and proof of business registration. It’s a good idea to have key documents prepared in advance so you’ll have them ready when it’s time to apply for grants. Using small business accounting software makes it easy to pull the necessary reports.

3. Review the Notice of Funding Opportunity (NOFO) and verify that you meet the pre-qualification requirements 

Most organizations announce grant availability through a Notice of Funding Opportunity (NOFO). Look carefully at the grant’s NOFO and verify that your business is eligible for it. Conditions might include your business’s number of employees, annual revenue, connection to a community, and many other factors.

4. Prepare and submit your application

Carefully follow the grant application’s instructions and submit required documentation to show that your business meets the grant’s eligibility requirements.

5. Attend grant trainings, if available

Many grant programs offer workshops and training sessions for grant applicants and/or recipients. Attending these trainings can help improve your application (if you’re an applicant) or help you stay in compliance and deploy grant funds more effectively (if you’ve already been awarded the grant).

Applying for federal grants

1. Identify opportunities for federal funding

Look for federal grants via Grants.gov or the websites of relevant federal agencies. Look at funding priorities, deadlines, and eligibility criteria.

2. Obtain a Unique Entity Identifier (UEI)

To receive federal grants, your business will need to register for a UEI code with the System for Award Management (SAM.gov). Note that you’ll need to maintain an active registration on SAM.gov to remain eligible.

3. Review the Funding Opportunity Announcement (FOA)

Read the FOA carefully to learn about the grant objectives, requirements, and evaluation criteria for the grant. Note the deadline application and which documents are required.

4. Prepare your application package

Explain your goals, needs, and execution plan through a detailed project narrative in your application. Most grants will require you to include a budget and justifications for the funding requests. Gather supporting documents like letters of recommendation and compliance certifications.

5. Submit your application

Submit your application package through the designated platform — usually grants.gov for federal grants. Make sure that all components are properly formatted and that they’re submitted before the deadline.

6. Follow up and await feedback

Check back on your application status regularly, and make sure to promptly respond to any additional requests for information.

Applying for local, private, or corporate grants

1. Find grant opportunities

Look for funding opportunities via local government sites or community organizations. Note eligibility requirements and application deadlines.

2. Prepare required documents

Gather financial statements and business details, and create a strong statement outlining your project’s requirements, goals, and impact.

3. Submit your application

Follow each grant’s submission instructions and ensure that all required documents are included.

4. Monitor and follow up

Track your application status and check in regularly so you can respond to any additional requests from the grant issuer.

Are there repayment requirements for small business grants in New Jersey?

Grants don’t have to be repaid, but businesses are legally obligated to use them in a manner consistent with the funding agreement. Businesses that don’t follow the agreement or fail to document their compliance may be liable for paying back some or all of the grant money.

4 New Jersey small business loans

Whether you're launching a new venture or fueling expansion, securing a New Jersey business loan can be a key step for your small business. New Jersey offers various loan programs and resources to help you reach your financial milestones.

1. NJ Capital Access Fund 

The NJ Capital Access Fund provides flexible working capital loans to small businesses and nonprofits in New Jersey. To qualify, businesses must operate in New Jersey, have fewer than 50 employees, annual revenue of $10 million or less, be in operation for at least one year, and demonstrate repayment ability through cash flow. Business owners can pre-apply online through the New Jersey Capital Access Fund website.

2. New Jersey Small Business Fund

A loan program offering fixed-rate financing for fixed assets or working capital to creditworthy small businesses and nonprofits in New Jersey. If your business has been in operation for at least a full year and your revenue is under $3 million and non-home-based, you might qualify for a loan of up to $500,000. Minority- and women-owned businesses are encouraged to apply; applications are handled online through the New Jersey Economic Development Authority (NJEDA).

3. SBA 7(a) Loan Program

The Small Business Administration's (SBA) 7(a) Loan Program is a popular choice for small businesses seeking financial assistance. It improves capital availability for small businesses by guaranteeing a portion of loans, which helps reduce risk for lenders. Loans up to $5 million can be used for various purposes, including working capital, equipment purchases, real estate acquisition, and debt refinancing.

4. Microloans

Microloans are smaller loans often provided by nonprofit organizations. Loan amounts are typically under $50,000, and requirements are often more flexible and available to startups or businesses with less established credit. You can find a list of microlenders in New Jersey by visiting the SBA website.

How to get a small business loan in New Jersey: Application process

Whether you’re applying through a private lender or a government-backed program, the steps to apply for a loan will usually look something like this:

1. Assess your financing needs

Identify your specific funding needs, including the approximate amount you need to borrow and what you’ll spend it on. Learn about different loan types and decide which one makes sense for your business.

2. Check your credit and financials

Check your business and personal credit scores before applying. Use your small business accounting software to pull key financial reports like cash flow statements and evaluate your ability to repay a loan.

3. Prepare a business plan

Lenders will want to see your business plan, so make sure it’s ready to go. Using free business plan templates available online can help you make sure your plan is complete.

4. Research lenders

To find the best terms for your loan, compare different options like banks, credit unions, government-backed loans, and online lenders. 

5. Gather required documents

Assemble any documents your loan application requires. This often includes income statements, balance sheets, tax returns, and relevant licensing and compliance documents.

6. Submit your application

Follow the specific process that the lender requires, whether it’s online or in person, and make sure you’ve included all required documents.

7. Wait for approval and funding

The lender will review your application and conduct underwriting. Remember, they might request additional details, so check your lender’s loan portal regularly.

New Jersey small business funding resources and support 

Your business has the best shot at growing and thriving when it’s bolstered by a robust support network form the community around you. These resources can help New Jersey small business owners find what they need:

New Jersey Economic Development Authority (NJEDA)

The NJEDA mission is to make New Jersey a national model for sustainable and equitable economic growth by investing in communities, fostering innovation, and supporting industries with high quality-jobs in the State.

Business.NJ.gov

Business.NJ.gov is the State of New Jersey’s one-stop portal for business owners. It includes extensive guides for new business owners, including resources to help you understand business funding and make smart financial choices.

New Jersey Business Action Center

The New Jersey Business Action Center is a resource run by the New Jersey Department of State. The NJBAC employs Small Business Advocates who can help business owners secure financing, resolve regulatory issues, and more.

Other ways to fund your small business in New Jersey

There are more ways to secure financing for your New Jersey small business than traditional loans and grants. Here are a few more options that may be worth considering:

Alternative loans

Today’s alternative lending market includes many options that can be helpful for small businesses, including peer-to-peer lending, merchant cash advances, and online term loans.

Angel investors

Angel investors invest their own money in startups, typically in exchange for equity ownership or convertible debt. These investors often offer more than just financial backing; they provide valuable experience, mentorship, and access to their networks. Note that angel investors typically seek a substantial return on their investment and may expect some level of influence over business decisions.

Bootstrapping

Bootstrapping involves starting and growing your business using your savings or personal income. This method allows entrepreneurs to control their business fully without taking on debt or giving up equity, but it requires significant personal financial investment.

Contests

Business contests or competitions offer entrepreneurs the chance to win funding, resources, or mentorship by pitching their ideas or presenting their business plans. These contests can provide valuable exposure, credibility, and a financial boost — but they’re highly competitive and can require significant time and effort.

Corporate programs

Corporate programs create strategic partnerships between large and smaller businesses or startups, offering them financial support, resources, or valuable business opportunities. These programs may involve grants, investments, or even contracts for goods and services.

Crowdfunding

Crowdfunding harnesses the power of collective support, allowing entrepreneurs to raise small amounts of money from a large number of people through online platforms like Kickstarter and Indiegogo. This approach offers a debt- and equity-free way to secure funding while simultaneously gauging market interest in a product or service. 

Friends and Family

Securing funding from friends and family can be a viable option for early-stage businesses, offering a potentially more accessible and flexible source of capital compared to traditional financing. However, to avoid straining personal relationships, it’s important to approach these arrangements with professionalism and establish clear agreements outlining repayment terms.

Incubators and accelerators

Business incubators and accelerators support startups by offering valuable resources like office space, mentorship, and networking opportunities, typically in exchange for equity or fees. Their goal is to foster early-stage companies during their crucial development, increasing their chances of success through a structured environment and guidance from seasoned professionals.

Vendor financing

Vendor financing involves negotiating payment terms with suppliers, allowing businesses to defer payments for goods or services. This arrangement helps improve cash flow and can be an alternative to traditional loans or credit lines. 

Venture Capitalists

Venture capitalists (VCs) are professional firms that invest pooled capital from investors into startups and small businesses with high growth potential, in exchange for a significant ownership stake and influential decision-making power within the companies they invest in. This type of funding is best suited for businesses poised for rapid expansion but comes with the trade-off of relinquishing some control.

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