The New Jersey Economic Development Authority (NJEDA) issued more than $32 million in grants and loans to more than 1,200 small businesses through the Main Street Recovery Program in 2024.
Created under Governor Phil Murphy’s Economic Recovery Act (ERA), the Main Street Recovery Program provides a comprehensive suite of products designed to support New Jersey small businesses.
Since the program launched in 2021, the NJEDA has awarded approximately $167 million to more than 5,000 small businesses across the state. Including the $700 million in pandemic relief that the NJEDA provided to small businesses before the Main Street Recovery Program launched, the Authority has distributed a total of nearly $1 billion to bolster small businesses throughout New Jersey.
“Under Governor Murphy’s leadership, New Jersey remains committed to supporting small businesses with a range of resources designed to equip them for success,” NJEDA Chief Executive Officer Tim Sullivan said. “When the pandemic struck, the NJEDA, through the Economic Recovery Act, worked tirelessly to develop programs that infused millions of dollars into New Jersey’s local economies. Today, the Main Street Recovery Program continues to assist thousands of small businesses by helping them grow, expand, and thrive.”
The following programs are part of the Main Street Recovery suite:
- Small Business Lease Grant
- Small Business Improvement Grant
- Main Street Lenders Grant
- Main Street Acquisition Support Grant
- Small Business E-Commerce Support Program
- Main Street Micro Business Loan
Since the Main Street Recovery Finance Program is a suite of programs, eligibility differs depending on the product. To learn more about the programs under the Main Street Recovery Program and to apply, please visit here.
