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Press Release
February 3, 2025
4 minute read

In 2024, NJEDA Invested $32 Million in More Than 1,200 Small Businesses Through the Main Street Recovery Program


Nearly $170 million has been distributed through Main Street’s suite of programs since 2021, bringing total small business support to nearly $1 billion

TRENTON, N.J. (February 3, 2025) – The New Jersey Economic Development Authority (NJEDA) today announced that in 2024 it issued more than $32 million in grants and loans to more than 1,200 small businesses through the Main Street Recovery Program. Created under Governor Phil Murphy’s Economic Recovery Act (ERA), the Main Street Recovery Program provides a comprehensive suite of products designed to support New Jersey small businesses.  

Since the program launched in 2021, the NJEDA has awarded approximately $167 million to more than 5,000 small businesses across the state. Including the $700 million in pandemic relief that the NJEDA provided to small businesses before the Main Street Recovery Program launched, the Authority has distributed a total of nearly $1 billion to bolster small businesses throughout New Jersey.  

“Under Governor Murphy’s leadership, New Jersey remains committed to supporting small businesses with a range of resources designed to equip them for success,” said NJEDA Chief Executive Officer Tim Sullivan. “When the pandemic struck, the NJEDA, through the Economic Recovery Act, worked tirelessly to develop programs that infused millions of dollars into New Jersey’s local economies. Today, the Main Street Recovery Program continues to assist thousands of small businesses by helping them grow, expand, and thrive.”  

The Main Street Recovery Program was originally designed to help small businesses stay open during the pandemic and support their growth and success in its aftermath. Years after the height of the pandemic, the program is continuing to support mom and pop shops along New Jersey’s main streets.  

The following programs are part of the Main Street Recovery suite:  

  • Small Business Lease Grant: supports the growth and success of small businesses and non-profits by providing grant funding to cover a portion of lease payments for businesses and non-profits leasing new or additional space.
  • Small Business Improvement Grant: offers reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures, and equipment.
  • Main Street Lenders Grant: provides grants to eligible micro business lenders, which the lenders can use to create new loan micro business loan products or supplement existing micro business loan products. Lenders can also qualify for additional grant funding to provide technical assistance to micro businesses, to better prepare these businesses to qualify for loan products.
  • Main Street Acquisition Support Grant: will offer a grant of up to $50,000 to reimburse an eligible small New Jersey business for closing costs related to a New Jersey commercial property that the business purchased to operate from.
  • Small Business E-Commerce Support Program: provides free e-commerce and digital marketing consulting services to New Jersey small businesses in the restaurant, retail and personal care industries that operate from a commercial location. The NJEDA has partnered with consultants to assist eligible small businesses with e-commerce services.
  • Main Street Micro Business Loan: will provide financing of up to $50,000 to eligible micro businesses in New Jersey with 10 or fewer full-time employees and no greater than $1.5 million in annual revenues.   


Reach for the Stars, LLC in Cranford, Union County, took advantage of the NJEDA’s Small Business E-Commerce Program. Serving as a leader in pediatric speech throughout New York and New Jersey, its new website allows for visitors to read related articles and patient testimonials and explore resources that are available to them.  

“As a small business owner, we are often forced to choose one essential project over another because of financial limitations. I was truly honored that my business was selected to receive a grant for a new website, and I couldn’t be happier with the end results,” said Reach for the Stars owner Lisa Jiannetto-Surrusco. “The grant enabled me to get this project done, while allocating the saved money for vital necessities like therapy and testing materials, professional development for the staff, and potential expansion of our menu of services.”  

In Medford, Burlington County, YMCA of the Pines Lake Stockwell Day Camp received funding from the Small Business Improvement Grant to offset the costs of a concrete apron and fencing at the campsite. These improvements allow for Lake Stockwell Day Camp to offer activities to children of all ages, such as archery, a high/low ropes course, and horseback riding.  

“This NJEDA funding was an absolute game changer for YMCA of the Pines Lake Stockwell Day Camp,” said Mark R. Dibble, Chief Executive Officer of YMCA of the Pines. “This money allowed us to make necessary upgrades to the camp entrance, creating a beautiful and safe environment for all the campers and families we serve.”

In Asbury Park, Monmouth County, Asbury Park Brewery used the Small Business Lease Grant to open a new taproom. Now, Asbury Park Brewery can continue to brew their eclectic lineup of beers, including the Scarlet Ale, named after the Rutgers University Scarlet Knights.

“The Small Business Lease Grant provided us with support to open our new taproom on Cookman Avenue while continuing to produce high quality ales, beers, and stouts,” said Bob McLynn, owner of Asbury Park Brewery. “We are very grateful for this assistance, so that it’s possible to continue entertaining and serving our community, hopefully for years to come.”

Through the Small Business E-Commerce Support Program, The Potential in US, located in Woodbury, Gloucester County, was able to revamp their website to include a list of services and a full calendar of events, so that they can continue to offer community-based support services to adults living with disabilities.  

“We had access to the website developer, who worked with us and comprehended our specific needs as small business owners,” said The Potential in US owner Anita Barringer. “It was a pleasure to work with such a great company and an even better developer.”

Since the Main Street Recovery Finance Program is a suite of programs, eligibility differs depending on the product. To learn more about the programs under the Main Street Recovery Program and to apply, please visit here.  

About the NJEDA  

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.  

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on FacebookTwitterInstagram, and LinkedIn   ###

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