Women owned businesses, veterans, as well as minority owned businesses in New Jersey can get financial assistance from a number of loan and/or free grant programs. There are government agencies, banks, corporations, non-profits and other lenders near you that provide funds. Find a list of low or interest free loan programs or grants below.
The funds are for small to mid size businesses. Entrepreneurs as well as start ups can also apply for the loans or grants. Priority will be given to disadvantaged businesses in New Jersey. This includes, but is not limited to Black owned businesses, women companies, LGBTQ, veterans, immigrants, Latinos and others who struggle to get the funds they need.
The list of lenders as well as programs listed below will be updated daily, with new sources of funding added daily. There may be loans and grants available in the largest cities in New Jersey, including Newark, Trenton, Jersey City, Paterson and throughout the state.
Free grants as well as loans in New Jersey for minorities and women businesses
Find the main government programs, corporation and lender programs available in New Jersey. The list of free grants as well as loans below are open to most if not all residents of the state. However there will be some funds allocated to minorities (Black, Latino, Asian, LGBTQ, etc.) as well as women, veterans, and others.
Year found financial assistance
Rutgers Business School’s Center for Urban Entrepreneurship and Economic Development operates the Black and Latino Technology Angel Investment Fund of New Jersey. This is a free grant program that help disadvantaged businesses with financial aid, free counseling, workshops and more. The Fund is meant to help entrepreneurs as well as allow Black, Latino, and minority small businesses launch or grow in inner cities in New Jersey – Urban Revitalization. Hundreds of minority businesses have received funds, free grants, networking opportunities, as well as technical help from the program, also known as The Black and Latino Technology Initiative. Find more assistance programs available https://www.business.rutgers.edu/cueed
October 2020
Small Latino and Black owned businesses in Newark can apply for grants. The city is raising tens of millions of dollars, and the funds will be provided in partnership with local charities, non-profits, businesses, and even “celebrities”/investors such as Shaquille Oneal. Companies such as AT&T, PSEG, local community action agencies and others will be helping disadvantaged businesses as well. The program is called the NWK FAM Fund, or Newark 40 Acres and a Mule Fund. Read more. https://www.newarknj.gov/departments/economichousing
July 2020
The New Jersey Redevelopment Authority Small Business Lease Emergency Assistance Grant Program will allow small businesses in 64 eligible municipalities to apply for free grants. Grants will be issued on a first-come, first-served basis, with funds allocated to disadvantaged, Black owned businesses and minorities. https://www.njra.us/Small-Business-Lease-Emergency-Assistance-Grant-Program
By Jon McNamara
