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Funding

Whether you're looking for startup capital or considering a loan to finance the expansion of your business, a variety of opportunities are available.

New Jersey Clean Energy Loans

Rolling Application

Deadline:

Start Date:

Eligibility

  • Be located in New Jersey with fewer than 750 employees
  • Be seeking to finance a clean energy project and use a clean energy technology that has already been demonstrated in the US or internationally
  • Be in good standing with the New Jersey Department of Labor and Workforce Development and NJ Department of Environmental Protection
  • Have a valid tax clearance certificate no older than 180 days at time of approval
  • Be economically feasible
  • Be requesting a loan of $500,000 to $20M for the project in total (NJEDA and private financing)
  • Be requesting 50% or less of the total loan amount from the NJEDA ($250,000-$10M)
  • Have a term sheet, letter of intent, draft agreement, commitment letter, or similar document from an eligible financial institution.
  • Not be enrolled in any other state State Small Business Credit Initiative (SSBCI) program

Benefits

  • Loans at 3% below the financial institution's interest rate
  • Minority-, Woman-, and Veteran-owned businesses receive an additional 1% interest rate reduction
  • Businesses/projects located in overburdened communities receive a 1% interest rate reduction

Learn More