SMALL BUSINESS IMPROVEMENT GRANT

Open in new Tab SMALL BUSINESS IMPROVEMENT GRANT APPLY HERE NJEDA will not be accepting applications beyond Wednesday 5/13/26 at 9:00   Available funding is limited and submission does not guarantee consideration or approval. Please be advised, New Jersey State law prohibits most cannabis license and certification holders from receiving or continuing to receive an economic incentive from the NJEDA, including the Small Business Improvement Grant.  If the applicant, or any person who controls the applicant or owns or controls more than one percent of the stock of the applicant, has applied for or received a license or a certification from the New Jersey Cannabis Regulatory Commission (NJ-CRC), the applicant is ineligible for this program and should not proceed with an application.  If an application is received from an applicant that meets this criteria, the application will be declined. NJEDA is currently developing financial assistance products to support cannabis and cannabis-related businesses – more information will be shared on the NJEDA website, when available. The Small Business Improvement Grant offers reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures and equipment. AMOUNT 50% of eligible total project costs up to $50,000 BENEFITS Businesses may be reimbursed for capital improvements, or purchase and/or installation of new equipment ELIGIBILITY Open to small businesses and nonprofits ______________ Minimum project cost of $5,000 ______________ Applicant must rent or own facility being improved *Additional terms apply. See eligibility below. PROGRAM DETAILS ELIGIBILITY AWARD SIZE FEES PROGRAM DETAILS The Small Business Improvement Grant provides reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures and equipment. The Grant is being funded through the Main Street Recovery Finance Program (NJ Economic Recovery Act). 40 percent will be reserved for businesses and nonprofits located in Opportunity Zone eligible census tracts. Applications will be accepted on a rolling basis until funding is exhausted. ELIGIBILITY Businesses and nonprofits may be reimbursed for capital improvements, or purchase and/or installation of new equipment. Landlords are not eligible. Applicants are limited to one application per federal Employer Identification Number (EIN) . Applicants operating from multiple locations under a single EIN would be limited to one application under the sole EIN, but may pool project costs from multiple locations into a single application. Applicants: Rent or own and operate from facility. Meet SBA definition of a Small Business – determined by employee count and NAICS code. Project cost must be at least $5,000. Project must have commenced on or after March 9, 2020 and within the 2 years prior to your application date. Payment must have been made within the 2 years prior to your application date. Provide a current tax clearance certificate prior to approval. Be in good standing with Department of Labor and Department of Environmental Protection. Certify at time of application that they are not in default of any other EDA or State assistance. Certify at application the applicant is willing to pay wages that are the greater of $15/hour or 120% of the minimum wage rate. Tipped employees are required to be paid only 120% of minimum wage rate. Remain in the location for at least two years for grants up to $25,000, or at least four years for all other grant award amounts. Improvement project must meet the following eligibility requirements: Interior or exterior building improvements, or purchase and/or installation of equipment (FFE). Total project cost must be at least $5,000. Work must be complete on or after March 9, 2020, and or within 2 years of application date.