Full Notification

New Jersey Economic Development Authority - Small Business Emergency Loan Program. Opens 4/13/2020 at 9am - apply quickly once program opens if submitting an application. Learn more below.

The New Jersey Economic Development Authority rolled out the specifics for how businesses hurt by the COVID-19 pandemic can apply for a $10 million state loan program, after a similarly-natured grant program was depleted just an hour after applications opened on April 3.

A copy of the application for the Small Business Emergency Assistance Loan program was posted on the EDA’s website on Monday evening. Companies can apply starting 9 a.m. on April 13.

In the meantime, business owners can use an online “eligibility wizard” to gauge which state assistance programs could help them the most.

To learn more about this program please visit https://www.njeda.com/pdfs/NJEDA_COVID-19_Loan_App_Walkthrough or visit www.njeda.com directly

This second program from the EDA provides direct loans of up to $100,000 to New Jersey-based small businesses and nonprofits that have been in existence for at least one year and have less than $5 million in annual revenue.

https://faq.business.nj.gov/en/collections/2198378-information-for-nj-businesses-on-the-coronavirus-outbreak

*Information taken from NJBiz. Full article can be found at 
https://njbiz.com/njeda-rolls-application-10m-covid-19-business-relief-loan/