SMALL BUSINESS LEASE ASSISTANCE PROGRAM
The NJEDA is no longer accepting application for the Small Business Lease Assistance Program.
If you are interested in our NEW Small Business Lease Grant please click here.
The Small Business Lease Assistance Program offers reimbursement of a percentage of annual lease payments to for profit businesses and non-profit organizations in eligible areas that plan to lease between 500 – 5,000 s.f. of new or additional market-rate, first-floor office, industrial or retail space for a minimum 5-year term.
“Bringing small businesses back to New Jersey’s main streets and downtown areas is central to creating walkable, transit-accessible neighborhoods where people will choose to live and work. NJEDA’s Small Business Lease Assistance Program will help to attract new businesses, create new jobs, and lend a hand in community revitalization – it’s a win-win for New Jersey.”
-Lieutenant Governor Sheila Y. Oliver
Incentive Type and Amount
Reimbursement of a percentage of annual lease payment (for 2 years of a 5 or 10-year lease) administered as follows:
- Year 1: 15% of annual lease payment
- Year 2: 15% of annual lease payment
The Lease Assistance payment, when combined with any other governmental grants received by the applicant, cannot exceed 80% of the annual lease payment.
The Small Business Lease Assistance Program is a performance-based incentive program. This means that no funding is immediately disbursed upon application approval, but rather until evidence is demonstrated that the grant terms have been met.
- Certification from the landlord that the lease agreement is not in monetary or material default and that the applicant occupied and operated from the location for the full year under which reimbursement is being requested.
- Certification that the Lease Assistance, when combined with other governmental grants, does not exceed 80% of annual lease payment.
- A limit of one Lease Assistance grant will be approved per applicant (or related entity) over the 3-year life of the pilot program. Applicants that have been approved for a GSGZ Business Improvement Incentive are not eligible for Lease Assistance, and vice versa.
- Applicant must be planning to lease between 500 s.f. – 5,000 s.f. of new or additional first-floor, market-rate office, industrial and retail space in an eligible area for a minimum 5-year term. As this is an incentive program, no award will be made for leased space that has already been executed prior to application.
- An entity leasing more than 5,000 s.f. is eligible for Lease Assistance, but only the first 5,000 s.f. of space will be reimbursed.
- Applicants or related entities operating within a facility that has received incentives through Grow NJ or ERG are not eligible.
- Applicant must certify that they are not in default of any other EDA financing.
- High Tech and Business Incubator members in Not for Profit facilities would not be eligible for independent lease incentives (operators are eligible.)
EDA has worked with the eligible cities to determine areas within the city that are eligible for the incentive. Please contact the Program Representative listed in “More Info” to determine if your project location is eligible.
- $500 Application Fee for For-Profit Entities
- $250 Application Fee for Not-for-Profit Entities
- Annual Administrative Fee equal to 1% of the Annual Lease Incentive
* All fees are non-refundable.
Division of Taxation Tax Clearance Certificate required. Certificates may be requested through the State of New Jersey’s Premier Business Services (PBS) portal online.
- Under the Tax & Revenue Center, select Tax Services, then select Business Incentive Tax Clearance.
- If the applicant’s account is in compliance with its tax obligations and no liabilities exist, the Business Incentive Tax Clearance can be printed directly through PBS.
Please note: It is the applicant/client’s responsibility to maintain a current and clear tax clearance certificate. If a current and clear certificate is not evidenced to EDA at time of application, EDA will not proceed with approval.
Please provide all information requested in the application.
Prior to submitting this application to EDA, you will be provided instructions on forwarding this application to the Program Representative listed on the cover of this application. If the representative has no questions and the application is complete, the representative will send you a signed certification form. At that point, you may re-access your application through the EDA online application system, proceed to the “Attachments” section, and submit your application to EDA, along with the signed certification form from the program representative and any other necessary attachments. If the signed certification form is not included with your application, then EDA will not consider the application for approval.
For any question not applicable to your business or project, you may answer “None” or “Not Applicable” where necessary.
- There is a non-refundable application fee of $500 for for-profit entities and $250 for not-for-profit entities.
- The application fee is payable electronically or by check, and instructions regarding payment can be found at the end of the application.
- Please note that in addition to the application fee, any project that is approved for assistance will be subject to the following administrative fees:
- Small Business Lease Assistance: Administrative Fee of 1% of the Annual Lease
Incentive, paid annually until all funds have been disbursed.
SMALL BUSINESS LEASE ASSISTANCE PROGRAM REPRESENTATIVES
If you have any questions about the program or eligibility in your area, please first contact the following representative from your city. These representatives must also review and certify any application for completeness prior to EDA considering the application for approval. Upon completion of application review, the program representative will provide the applicant a password that will allow the applicant to proceed with submitting their application to EDA through the online application.
James M. Rutala, PP, AICP, MBA
Director for Community Development
856-451-3407 ext. 1
Economic Development Rep.
Department of Development and Planning
520 Market Street, City Hall – Suite 218
Camden NJ, 08101
City of Millville
UEZ Coordinator-City of Passaic
330 Passaic Street
Passaic, NJ 07055
Penni Forestieri – UEZ Director
125 Ellison Street, 4th Floor
Paterson, NJ 07505
Donald John (DJ) Kophazy
Recreation Superintendent – UEZ Coordinator
120 Filmore St
Phillipsburg NJ 08865
908-454-5500 x 390
Eric Maywar, Economic Development Specialist
City of Trenton
319 East State Street
Director Econ. Dev.
856-794-4000 ext. 4623
For more information or to ask a specific question please send an email to email@example.com and a team member will reach out to you.