This limited-time program provides financial support to commercial banks in New Jersey to assist in offering loans and guarantees to small and mid-sized businesses and nonprofit organizations with projects in New Jersey. There are two components to the Main Street Business Assistance Program: bank term loan participations and/or guarantees and line of credit guarantees.

• Loan participations up to 25% of the total transaction (not to exceed $1 million for fixed assets and $750,00 for working capital)
• Loan guarantees up to 50% of the total transaction (not to exceed $2 million for fixed assets and $1.5 million for working capital) 
• Line of credit guarantees up to 50% of the total transaction (not to exceed $250,000)

Funds may be used for working capital, fixed assets, and refinancing existing debt.

Businesses interested in the Main Street Business Assistance Program must meet the following criteria:

• Located in New Jersey and operating for at least 2 years
• In good standing with the EDA, Federal/State agencies, and requesting bank
• No criminal history for owners, business, or guarantors
• Minimum credit score of 680 for at least one of the guarantors

To learn more or to get more information on how you may qualify  for one of EDA's financing programs, call 800-537-7397.