Businesses operating in New Jersey, individuals, or municipalities that are required to, or volunteered to, perform remediation and/or cleanup of contaminated and underutilized sites may be eligible to secure financing through loans and/or grants under the Hazardous Discharge Site Remediation Fund (HDSRF).
The HDSRF is administered through a partnership between the New Jersey Department of Environmental Protection (DEP) and the EDA. The DEP evaluates an applicant’s preliminary eligibility requirements, the technical merits of the proposed project, and the estimated project costs. Upon DEP approval, the EDA evaluates an applicant’s financial status, determines grant and/or loan eligibility, and awards funding.
Fees apply and are non-refundable.
Division of Taxation Tax Clearance Certificate required. Certificates may be requested through the State of New Jersey’s Premier Business Services (PBS) portal online.
Please note: It is the applicant/client’s responsibility to maintain a current and clear tax clearance certificate. If a current and clear certificate is not evidenced to EDA at time of closing, EDA will not proceed with closing.
* The interest rate for loans is the Federal Discount Rate at approval or closing, whichever is lower, with a minimum of 5%.
** Municipal loans have an interest rate of 2 points below the Federal Discount Rate with floor of 3%.