Top Small Business Grants in NJ
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Grants for Small Businesses in NJ
Food Retail Innovation in Delivery Grant (FRIDG) Program
Program description: The FRIDG program provides independent N.J. supermarkets and other eligible food retailers with funds to buy self-contained, temperature-controlled lockers. Incentive: Receive up to $250K in reimbursements for buying self-contained, temperature-controlled lockers for grocery delivery. General requirements: Here are some of the general requirements for this grant: Be an independent supermarket owner or other qualifying food retailer Have a physical retail location in New Jersey and the ability to service and make deliveries to a locker located in a designated food desert community (FDC) Be authorized by the U.S. Department of Agriculture Food and Nutrition Service (USDA FNS) to accept benefits through the Supplemental Nutrition Assistance Program (SNAP) online Be in good standing with N.J. state regulators, including the Division of Taxation, Department of Environmental Protection (NJDEP), and Department of Labor and Workforce Development (NJDOL) How to apply: You can complete and submit a FRIDG application through the New Jersey Economic Development Authority (NJEDA) website.
NJ Small Business Improvement Grant
Program description: The N.J. Small Business Improvement Grant offers partial reimbursement to eligible small business owners who make capital improvements or buy new furniture, fixtures, and equipment. Incentive: Receive up to $50K in reimbursements for making interior or exterior capital improvements or buying and installing new furniture, fixtures, and equipment. General requirements: Here are some of the general requirements for this grant: Be a small business that rents or owns commercial property Complete a capital improvement project costing at least $5K or buy and install furniture, fixtures, and equipment costing at least $5K Project must have commenced on or after March 9, 2020, and within the two years prior to your application date Payment must have been made within the two years prior to your application date Provide a current tax clearance certificate prior to approval Be in good standing with the NJDOL and NJDEP Not be in default of any N.J. state assistance programs Pay wages that are the greater of $15 an hour or 120% of the minimum wage rate Remain in the location for at least two years for grants up to $25K or at least four years for all other grant award amounts How to apply: You can complete and submit an N.J. Small Business Improvement Grant application through the NJEDA website.
NJ Small Business Lease Grant
Program description: The N.J. Small Business Lease Grant offers two separate grants to small businesses and nonprofit organizations offsetting a portion of their annual lease payments for new or additional space. Incentive: Receive an initial grant amount equal to 20% of your annual lease costs, and you can receive another grant amount equal to 20% of your annual lease costs upon making 12 months of lease payments. General requirements: Here are some of the general requirements for this grant: Be an N.J. small business or nonprofit with a minimum five-year lease term or longer Meet the following additional lease criteria: Occupy first floor (street-level) space in the Garden State Operate in between 250–10,000 square feet of commercial or retail space Have signed the lease within 12 months prior to applying for this N.J. grant The lease is considered market rate based on commercial real estate information Provide a current tax clearance certificate prior to approval Provide certification from the landlord showing you are current on lease payments Be in good standing with the NJDOL and NJDEP Not be in default of any N.J. state assistance programs Pay wages that are the greater of $15 an hour or 120% of the minimum wage rate Commit to remaining in the leased facility for at least five years How to apply: You can complete and submit an N.J. Small Business Lease Grant application through the NJEDA website. Applicants who have applied for or received a license or a certification from the New Jersey Cannabis Regulatory Commission are not eligible for this grant.
New Jersey State Trade Expansion Program (NJ STEP) Grant
Program description: The New Jersey Business Action Center (NJBAC) offers STEP grants that can help you export your goods and services from the Garden State to foreign markets. Incentive: Receive reimbursement for eligible business expenses, including your costs of participating in international and U.S. trade events and designing international marketing materials. General requirements: Here are some of the general requirements for this grant: Be a small business registered in, and domestic to, New Jersey Have at least one year of active business experience Be compliant with your N.J. taxes Manufacture goods or produce services that contain at least 51% U.S. content Be registered with NJSTART How to apply: Contact NJBAC if you’re interested in applying for the NJ STEP grant.
Upskill: NJ Incumbent Worker Training Grant Program
Program description: This N.J. upskilling grant program can help defray the cost of training existing employees and make businesses more competitive. Incentive: Eligible N.J. employers can receive up to $200K in reimbursement matching funds for training incumbent employees to meet current and future occupational skill requirements. General requirements: Here are some of the general requirements for this grant if you’re a single employer: Be an N.J.-based employer Have employees concentrated in one of the following nine strategic business sectors: Advanced manufacturing Clean energy Film and digital media Finance and professional services Food and beverage (non-retail) Life sciences Offshore wind Technology Transportation and logistics Develop a job-training plan that would enhance the skills of existing employees to meet current and future business goals Commit to retain your trainees for at least six months after training is completed Provide a current tax clearance certificate Have a federal Employer Identification Number (EIN) Have a Unique Entity Identifier (UEI) number How to apply: Register with the N.J. Department of Labor and Workforce Development’s online IGX system and notify NJDOL of your intent to apply for the Upskill: NJ Incumbent Worker Training Grant.
Who Provides Small Business Grants in NJ?
Arizona small business grants California small business grants Colorado small business grants Florida small business grants Georgia small business grants Illinois small business grants Indiana small business grants Maryland small business grants Michigan small business grants NC small business grants New York small business grants Ohio small business grants Pennsylvania small business grants Texas small business grants Wisconsin small business grants
Do You Have to Pay Back a Small Business Grant?
Who Is Eligible for Small Business Grants in NJ?
What Industries Does NJ Support With Grants?
Advanced manufacturing Clean energy Film and digital media Finance and professional services Food and beverage (non-retail) Life sciences Offshore wind Technology Transportation and logistics Retail trade (store and nonstore retailers)
NJ Resources for SMB Owners Looking for Funding
New Jersey Small Business Development Center (NJSBDC)
Business training courses, seminars, webinars, and workshops Entrepreneur Certificate Program (ECP) Confidential business counseling at no cost
SBA District Office in NJ
Alternative Funding Sources for Small Businesses in NJ
New Jersey State Small Business Credit Initiative (SSBCI)
N.J. Clean Energy Business Financing — $80 million. This program uses SSBCI funds alongside private funds to support loans to N.J. small business owners who seek financing for qualifying clean energy projects. N.J. Life Science Investment — $60 million. This program will help eligible N.J. life science startups access venture capital. N.J. Blended Capital Fund — $50 million. This program uses SSBCI funds to support Community Development Financial Institution (CDFI) small business loans to eligible borrowers, including socially and economically disadvantaged individuals who own N.J. small businesses. N.J. Recovery Loan Loss Reserve Fund — $25 million. This program makes it easier for N.J. small business owners to qualify for financing by providing CDFIs and Minority Depository Institutions (MDIs) with guarantees of 50% for all enrolled loans. N.J. Angel Match Program — $20.2 million. This program matches direct investment in eligible N.J.-based tech startups on a one-to-one basis via unsecured convertible notes ranging from $100K to $500K. N.J. SEDI Seed Fund — $20 million. This program for socially and economically disadvantaged individuals can help SEDI-owned businesses access venture capital.
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