PREMIER LENDER PROGRAM
The New Jersey Economic Development Authority (NJEDA) wants to ensure that New Jersey businesses have the resources necessary to expand and that our communities have a healthy climate for growth. That’s why we partner with banks to overcome the financial obstacles that can stall the growth and expansion of New Jersey-based businesses and not-for-profit organizations.

Benefits for Businesses / Not-for-Profit Organizations:
- Access to low-cost financing that includes NJEDA loan participation and/or guarantees, and line of credit guarantees.
- Financing can be used for fixed assets or term working capital.
- Attractive interest rates and terms

Benefits for Participating Lenders:
Provides lenders with more flexibility by reducing the lender’s overall exposure.
Faster turnaround on requests including:
- Access to low-cost financing that includes NJEDA loan participation and/or guarantees, and line of credit guarantees.
- Financing can be used for fixed assets or term working capital.
- Attractive interest rates and terms
The Premier Lender Program Creates a Win-Win Opportunity for Businesses and Participating Lenders
PROGRAM DETAILS
In partnership with NJEDA Premier Lender banks, NJEDA can provide the following loan participations/guarantees and line of credit guarantees:
- Up to 50% of the bank loan amount for fixed asset loans; maximum NJEDA participation of $2,000,000; maximum NJEDA guarantee of $1,500,000; total NJEDA exposure not to exceed $2,750,000.
- Up to 50% of the bank loan amount for working capital loans; maximum NJEDA participation of $750,000; maximum NJEDA guarantee of $1,500,000; total NJEDA exposure not to exceed $2,250,000.
- Guarantee of up to 50% of the bank line of credit amount; not to exceed $750,000.
ELIGIBILTY
- Business applicants looking to qualify for a loan from a Premier Lender must*:
- Be in operation for at least two full years.
- Commit to the retention and/or creation of one new full-time job for every $65,000 of NJEDA exposure within 2 years.
- 1.1X Debt Service Coverage Ratio (for businesses0; 1.0X Debt Service Coverage Ration (for not-for-profits).
- 100% loan-to-value for real estate and 90% for equipment.
- Must be able to provide fixed assets (e.g. real property and machinery/equipment).
- Homebased businesses are ineligible.
* Other credit criteria may apply
FEES
Based on the 5-year US Treasury or floor of 1%, whichever is higher, with basis point additions for credit risk.
- Application fee: $1,000.
- Commitment fee: $750, payable at acceptance of term sheet.
- Guarantee fee: Up to 0.5% sized to percentage guarantee required, not to exceed 0.5%. (For example, 25% guarantee will require a 0.25% fee, 50% guarantee will require a 0.5% fee.)
* 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 NJEDA at time of closing, NJEDA will not proceed with closing
PROGRAM GUIDE
QUESTIONS
For more information or to ask a specific question, please send an email to customercare@njeda.com and a team member will reach out to you.