New Jersey Loan Expansion and Network Development (NJ LEND)

About this programme

NJ LEND (New Jersey Loan Expansion and Network Development) is a three-year pilot program designed to expand NJEDA's lending capacity, supporting the growth and stability of New Jersey-based businesses. The New Jersey Economic Development Authority runs it, offering financing either as a direct NJEDA loan or through a partnership with a Premier Lender.

The program covers three products: fixed-asset loans for real estate or equipment, working-capital loans, and line-of-credit guarantees, aimed at businesses that need larger amounts of capital than NJEDA's smaller loan programs provide.

How it works

Fixed-asset loans (real estate or equipment) range from $2,000,001 to $5 million; working-capital loans and line-of-credit guarantees range from $750,001 to $1 million. Refinancings are capped at $2.5 million.

Interest rates are based on U.S. Treasury rates, with a minimum floor of 1%, plus additional basis points reflecting credit risk.

Real estate loans run up to 30 years with a maximum 100% loan-to-value; equipment loans run up to 10 years at up to 90% loan-to-value; working-capital loans run up to 7 years and must be secured by real estate.

Applicants can apply for a direct NJEDA loan or go through a Premier Lender participation or guarantee.

Direct loan fees: $1,000 application fee, plus a commitment fee and a closing fee each equal to 0.875% of the loan amount. Participation/guarantee fees: $1,000 application fee, $750 commitment fee, and a guarantee fee of up to 0.5% based on the guarantee percentage.

Who can apply

For-profit businesses must have operated for at least 2 full years, have no more than 750 employees, maintain a minimum 1.1x global debt service coverage ratio, and have at least 50% of personal guarantors with a minimum 700 FICO score; loans must be secured with fixed assets, and home-based businesses do not qualify.

Nonprofits must have operated for at least 3 full years, meet a 1.0x debt service coverage ratio, and be in good standing with relevant state departments.

All borrowers must commit to creating or retaining one job for every $65,000 in NJEDA exposure within 2 years, obtain a tax clearance certificate before closing, and meet prevailing wage and affirmative action requirements for any construction-related work.

How to apply

1. Submit a Financing Interest Form to start the process.
2. Apply through the application portal at application.njeda.gov.
3. Provide the required documentation from the application checklist.
4. Work with your area Business Banking Representative through underwriting and closing.

Documents you’ll typically need

• Financing Interest Form
• Application Checklist (see NJ LEND Application Checklist PDF)
• Tax clearance certificate (required before closing)

Frequently asked

More funding in New Jersey

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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.