Small Business Improvement Grant
Reimbursement program providing up to $50,000 (50% of eligible project costs) to NJ small businesses and nonprofits for capital improvements and purchases of furniture, fixtures, and equipment. Funded through the Main Street Recovery Finance Program.
About this program
High volume of applications - expected processing time approximately 8 months from application date. 40% of funds reserved for businesses in Opportunity Zone eligible census tracts.
Eligibility
NJ-based small businesses and nonprofits meeting SBA size standards by NAICS code. Must rent or own facility being improved. Minimum project cost of $5,000. Work must have been completed on or after March 9, 2020, and within 2 years of application. Must commit to remain in location 2-4 years. Cannabis license holders ineligible. Home-based businesses ineligible.