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Department of State

Business Assistance Programs

The Hon. Tahesha Way, Secretary

Large Business Assistance Program

Loans to Lenders Program

This program makes capital available to financial intermediary organizations who can effective reach small businesses in local markets including: micro lenders, Community Development Financial Institutions and Urban Enterprise Zones.

The Loan to Lenders Program is partially funded by the State Small Business Credit Initiative (SSBCI).

Interest Rate and Terms:

  • 2% fixed interest rate
  • Up to 15 year term with principal moratorium for up to 5 years, then principal and interest to full amortize the loan for the remaining 10 years
  • Quarterly loan repayments
  • Quarterly reporting

Disbursement Structure:

Disbursements are to be made in tranches as follows: 1/3 of amount awarded at closing and two additional tranches once 75% of the previous tranche is committed. Full disbursement of fund within 2 years.

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.

  • Under the Tax & Revenue Center, select Tax Services, then select Business Incentive Tax Clearance.
  • If the applicant’s account is in compliance with its tax obligations and no liabilities exist, the Business Incentive Tax Clearance can be printed directly through PBS.

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.


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