NJEDA Now Accepting Applications for NOL Program

TRENTON, N.J. (May 1, 2026) – The New Jersey Economic Development Authority (NJEDA) is now accepting applications for the Technology Business Tax Certificate Transfer Program, commonly known as the Net Operating Loss (NOL) program. The NOL program allows early-stage technology and life sciences companies in New Jersey to sell a percentage of their net operating losses and unused research and development (R&D) tax credits to unrelated profitable corporations for cash.  

WHAT:            The NOL program supports innovative start-ups by enabling qualified, unprofitable New Jersey-based technology or biotechnology companies with fewer than 225 U.S. employees to sell a percentage of its net operating losses and R&D tax credits. Participants can use the capital raised through the NOL program to help cover allowable costs incurred in connection with operating their businesses such as salaries, R&D, and other working capital expenditures

In 2025, an economic impact assessment found that the NOL Program is crucial to driving economic activity and enhancing business sustainability in the state, with more than half of the 589 program recipients continuing to operate in New Jersey and employ an estimated 31,200 workers.

WHO:               Technology and biotechnology companies with no more than 224 employees are eligible to apply for the NOL Program. Up to $75 million is available annually, with up to $15 million set aside for businesses located in Innovation Zones, Opportunity Zones, or New Jersey-certified minority and/or woman-owned businesses.

WHEN:            Applications for the NOL Program opened today, May 1, at 10:00 a.m. Applications will close on Tuesday, June 30, at 11:59 p.m.

An informational webinar will be held on Thursday, May 21 at 12:00 p.m. To register, click here.

Full application and eligibility requirements can be found here.

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 Facebook, Twitter, Instagram, and LinkedIn.

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