The New Jersey Economic Development Authority is accepting applications in 2024 for several different grant programs that remain available to help small businesses and nonprofits.
The Small Business Improvement Grant offers up to 50% reimbursement to small businesses and nonprofits for costs associated with making building improvements or purchasing new furniture, fixtures and equipment, up to $50,000. To be eligible, the project must cost at least $5,000 and be completed within two years of the application date. Home-based businesses are eligible for this grant, but only to request reimbursement for the purchase and installation of new furniture, fixtures and equipment.
Small Business Improvement Grant applications are accepted on a rolling basis until all funding is exhausted. For more information and to apply, go here.
In addition, the NJEDA has Small Business Lease Grants available, which pay up to 20% of a business or nonprofit’s rental payments for the first two years. To be eligible, the small business must have entered a minimum five-year lease agreement within 12 months of the application date. The leased space must be street level and between 250 and 10,000 square feet.
Applications are accepted on a rolling basis until all funding is exhausted. For more information and to apply for the small business lease grant, go here.
Finally, NJEDA also has funding available under the Small Business E-Commerce Support Program which offers free E-Commerce and digital marketing consulting services to small businesses with a commercial location in New Jersey. Restaurants, retail stores and personal care businesses are eligible for up to $11,400 in consulting services to assist them with services that include: website development, creation of online reservation, ordering and e-commerce platforms, among others.
Home-based businesses are not eligible for the E-commerce support grant. Small businesses interested should contact an NJEDA partner consultant directly. A list of the NJEDA consultants can be found here.
All three small business assistance programs are funded by the Main Street Recovery Finance Program. Cannabis license and certification holders are prohibited by state law from receiving an economic incentive from the NJEDA.
