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Posted Friday, April 10th, 2020

The New Jersey Economic Development Authority (NJEDA) iS accepting applications for Small Business Emergency Assistance Loans related to the COVID-19 crisis.COVID-19: Apply for NJ EDA Small Business Loans

The Small Business Emergency Assistance Loan program is designed to provide direct loans of up to $100,000 to New Jersey based small businesses and nonprofit organizations that have been in existence for at least one year and have less than $5 million in annual revenue.

These businesses must have been negatively impacted by the COVID-19 pandemic, including but not limited to:

  • Reductions of business hours;
  • Complete closure of business;
  • At least 20 percent decline in revenues;
  • Employees unable to work;
  • Required to close by government action;
  • Disruption of supply chain.

You may access a copy of the loan application  (scroll to page 4). Completed applications will be considered on a first-come, first-served basis, according to the NJEDA.

Too determine whether you might qualify for this program, use the NJ COVID-19 Business Support Eligibility Wizard.

For businesses impacte, EDA has set up a toll-free support number, 1-844-965-1125.