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New Jersey

These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on August 21, 2020.

For more up-to-date information on the relief programs available in New Jersey, we recommend that you visit the Department of Human Services or the governor's COVID-19 Resources website

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Description of Program and Relief

Small Business Emergency Assistance Guarantee Program

A $10 million pilot program that makes available one-year first loss guarantees of permanent working capital loans and lines of credit originated by Premier Lender banks. These loans must be made to cover operating expenses for New Jersey small businesses and non-profit organizations that have been impacted by the COVID-19 outbreak. The program provides a 50% guarantee, not to exceed a total exposure of $100,000 to Premier Lenders that will issue working capital loans or lines of credit to support business continuity for a range of COVID-19 related impacts to businesses (reduced revenue, employee shortage, supply chain impact, etc.).

Government or Lead Agency

The New Jersey Economic Development Authority (NJEDA) Board

Dates Available

March 28, 2020, continuing indefinitely

Eligibility Requirements/Restrictions

Organizations are eligible for the Small Business Emergency Assistance Guarantee Program if they:

  • Have a physical commercial location in the State of New Jersey;

  • Have been in existence for at least one full year;

  • Have $5 million or less in annual revenue;

  • Can demonstrate a negative impact on your business due to the COVID-19 outbreak;

  • Can provide CEO certification that you are making a best-effort to not lay off employees or will re-hire employees as soon as possible;

  • Are registered to do business in NJ and must certify that the company is in good tax standing with the State; and

  • Are in good standing with the New Jersey Department of Labor and Workforce Development.

  • Types of businesses not eligible:

  • Home-based businesses

  • Businesses related to gambling or gaming activities

  • Businesses related to the purveyance of “adult” (i.e., pornographic, lewd, prurient, obscene) activities, services, products, or materials (including nude or semi-nude performances or the sale of sexual aids or devices)

  • Auction or bankruptcy or fire or “lost-our-lease” or “going-out-of-business” or similar sale

  • Traveling merchants

  • Christmas tree sales or other outdoor storage

  • Any other activity constituting a nuisance

  • Businesses that are illegal under the laws of the State of New Jersey

For additional information regarding whether you might qualify for this program, use the NJ COVID-19 Business Support Eligibility Wizard here.

Application Deadlines (If Applicable)


Contact for More Information

To access this program, please work through one of the Premier Lenders listed here.

List of Additional Information

More information is available here.

© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.

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