NJEDA to Open Applications for Main Street Acquisition Support Grant

An informational webinar will be held next week

TRENTON, N.J. (September 25, 2024) - The New Jersey Economic Development Authority (NJEDA) today announced that applications will open for the Main Street Acquisition Support Grant on October 1, 2024. The Main Street Acquisition Support Grant is a pilot program that will help boost small business owners' liquidity following the purchase of a New Jersey commercial property. A webinar outlining the details of the program will be held on September 30, 2024.

WHAT: The Main Street Acquisition Support Grant will reimburse small business applicants up to $50,000 for a portion of closing costs incurred after they have purchased an existing New Jersey commercial property from which their small business will operate. The closing must have taken place after the program application was made open to the public and the grant application date must be no later than one year from date of closing.

WHO: The small business must be the applicant for this grant and occupy at least 1,000 square feet of total usable square footage of the building purchased. All loans must have been closed in an arm's length commercial transaction with a conventional lender. More information can be found here.

WHEN: The NJEDA will host a webinar outlining the details of the Main Street Acquisition Support Grant on Monday,September 30, 2024, at 2:00 p.m. For more information and to register, please visit here.

Applications for the Main Street Acquisition Support Grant will open on Tuesday,October 1, 2024.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State's principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey's long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA onFacebook, Twitter, Instagram, and LinkedIn.

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