State Small Business Credit Initiative
This NJEDA Program is funded by the federal State Small Business Credit Initiative (SSBCI). The SSBCI funds small business credit support and investment programs developed by state, territory, and Tribal governments in order to empower small businesses to access capital needed to invest in job-creating opportunities. The funds also support the promotion of American entrepreneurship and strive to democratize capital access across the country with a focus on very small businesses with fewer than 10 employees and businesses owned by socially and economically disadvantaged individuals.
With SSBCI participation and funding, this NJEDA program must meet strict guidelines of compliance for program requirements, application approval, and ongoing monitoring. Without exceptions, any business applying to this program must provide complete and accurate application submissions, and if approved, the business will also be required to maintain complete and accurate reporting which must be submitted to the NJEDA within the program specified timelines. Misrepresentation, omissions, or deviations from program requirements or reporting may subject a business to repayment of any benefits as well as incur penalties.
For more information on SSBCI program rules and materials, please click this link.