This program can help your bank provide financial assistance to your existing small- and mid-sized businesses and not-for-profit organizations with projects in New Jersey by loans, loan participations and/or guarantees, and line of credit guarantees.

The EDA is partnering with New Jersey banks to help them overcome the financial obstacles that can stall the growth and expansion of businesses in the state. Our Premier Lender Program creates new, low-cost lending opportunities with faster turnaround.

Through this program the EDA can help reduce your bank's credit risk and lower the cost of borrowing for your qualified customers. The EDA can participate in or guarantee up to 50% of a bank loan with terms of up to 5 years. Amortization can be up to 5 years for working capital, 7 years for equipment transactions, and 15 years for real estate transactions.

Credit-worthy companies with annual sales of $5 - $50 million engaged in or seeking to engage in international trade may qualify for up to a $5 million bank term loan with a partial EDA guarantee up to 50% not to exceed $1.5 million or up to $5 million line of credit with partial EDA guarantees of up to 50% not to exceed $500,000 through this joint program with Citibank.

This program can help your bank provide financial assistance to qualified New Jersey businesses through direct loans or guarantees, with the choice of a variable or fixed interest rate. The base rate is the 5-Year United States Treasury plus 100 basis points (for fixed rate loans) and Prime minus 150 basis points (for variable rate loans).