New Jersey Economic Development Authority (NJEDA) announced the Main Street Acquisition Support Grant will reimburse qualified small business applicants up to $50,000 of closing costs incurred after they have purchased an existing New Jersey commercial property from which their small business will operate.
Key highlights for eligibility:
- Open to eligible NJ small businesses or non-profits entities who purchased a commercial property and occupy at least 1,000 square feet for commercial use.
- Mixed-use properties are eligible as long as the small business operates from at least 1,000 square feet of commercial space. Cannot be 100% residential or vacant land.
- Reimbursement for closing costs up to $50,000.
- Closing must have taken place after applications and operating to the public after October 1, 2024, and application must be made within one year of closing. Application must be submitted after closing has already occurred. Applications submitted prior to closing would not be eligible.
For more information, please see links below:
Main Street Acquisition Support Grant - NJEDA
https://www.njeda.gov/main-street-acquisition-support-grant/
NJEDA to Open Applications for Main Street Acquisition Support Grant - NJEDA
https://www.njeda.gov/njeda-to-open-applications-for-main-street-acquisition-support-grant/