Small Business Lease Grant

If you lease a ground-level commercial space, this non-competitive, rolling-date Small Business Lease Grant from NJEDA may interest you. It pays 20% of your lease for two years (specifically, in two payments, one upon approval and the other 12 months later).

A key requirement is that you must sign a new five-year lease or have signed one within 12 months of your application. Additionally, the new lease must add at least 250 square feet to your original lease; see if your landlord will work with you on this and consider storage space and/or outdoor seating. You must also agree to stay in place for at least five years and pay your employees at least 120% of minimum wage. And, again, your main space must be street level to be eligible for this grant.

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