Main Street Micro Business Loan Application List

Based on the significant number of applications already received, funding for the Main Street Micro Business Loan is fully subscribed.  Based on the fact that the NJEDA’s application fee is non-refundable, the NJEDA is no longer accepting new applications.  If you have any questions, please contact the NJEDA Call Center at 844-965-1125.
 

• Does your business meet the below eligibility requirements?
• Are you a nonprofit, for-profit, or home-based micro business?
• Does your entity have annual gross revenues of $1,500,000 or less according to the most recent federal tax return that the applicant was required to file?
• Does at least one owner of your business have a minimum 600 credit score?
• Does your entity have 10 or less full time employees?
• Is your entity legally registered to do business in New Jersey, and able to provide a current tax clearance certificate from the NJ Division of Taxation?
• Has your entity been legally formed and in operation at least six months prior to the date of this application?

• Future operating expenses, which may be held as working capital to fund such future operating expenses. Examples include payroll, rent, mortgage, utilities, taxes, and inventory

• Future purchases of equipment (installation and construction costs of equipment cannot exceed $1,999.99)

• Home-based businesses cannot use loan proceeds for any residential costs (i.e. home mortgage/lease payments)
• Refinancing of existing debt
• Personal, non-business obligations or costs incurred by related entities
• Construction
• Equipment requiring installation or construction costs in excess of $1,999.99
• Rolling stock – (i.e. no cars, trucks, or vans can be purchased)