Small Business Emergency Assistance Guarantee Program

The Small Business Emergency Assistance Program is a $10 million pilot program that makes available one-year first loss guarantees of permanent working capital loans and lines of credit originated by Premier Lender banks. These loans must be made to cover operating expenses for New Jersey small businesses and non-profit organizations that have been impacted by the COVID-19 outbreak.

To see whether you might qualify for this program, use the NJ COVID-19 Business Support Eligibility Wizard.

The program provides a 50% guarantee, not to exceed a total NJEDA exposure of $100,000 to Premier Lenders that will issue working capital loans or lines of credit to support business continuity for a range of COVID-19 related impacts to businesses (reduced revenue, employee shortage, supply chain impact, etc.) There are no NJEDA fees associated with applying for this program.

For more information about how this resource may be able to assist you in response to the COVID-19 crisis, please visit our website.