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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.

NJ Cool

Rolling Application

Deadline:

Start Date:

Eligibility

  • Must be a commercial building owner or a commercial tenant with landlord/building owner approval for the proposed project
  • Must have a valid New Jersey tax clearance certificate no older than 180 days at the time of application approval
  • Must be in good standing with the New Jersey Department of Labor and Workforce Development (DOL) and the New Jersey Department of Environmental Protection (DEP)
  • Must demonstrate proof of funding/financing for the estimated project costs plus a 15% project contingency following grant award approval and before finalizing the grant agreement
  • The building must be located in Newark, Edison, or Atlantic City
  • Must meet building occupancy classifications: Mercantile Group M, Assembly Group A-2, or Business Group B per the New Jersey Building Code
  • All work must comply with NJ prevailing wage and affirmative action requirements
  • Total eligible project costs must be greater than or equal to $100,000 (no upper limit)
  • Projects must not involve new construction or enlargements (adding square footage)
  • Must switch 75% or more of building space heating loads from fossil fuel-based systems to non-combustion-based systems with low to zero direct operating emissions
  • Must replace 75% or more of existing high global warming potential (GWP) refrigerants with lower GWP alternatives
  • The 75% switching requirement applies only to the portions of the building within the tenant’s lease or the building systems affecting the tenant’s space

Benefits

Grant awards will cover 50% of eligible project costs up to a maximum award of $1,000,000 per project (with a minimum award amount of $50,000 per project).

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