TheSmall Business Improvement Grantoffers a meaningful way for New Jersey’s small businesses to invest in their physical spaces and enhance their operations. With careful planning and compliance, eligible businesses can take advantage of this opportunity to strengthen their infrastructure. This initiative, launched to support economic recovery and growth, allows eligible businesses and nonprofits to apply for up to $50,000 in reimbursements for building improvements or the purchase and installation of new furniture, fixtures, and equipment (FFE). Since its inception in February, the program has distributed nearly $13 million to more than 500 businesses across the state, demonstrating its impact and popularity.

Applications for the grant are accepted on a rolling basis, but funding is limited and will be awarded until it is exhausted. Currently, applicants should expect a processing time of approximately eight months from the date of submission. To qualify, businesses must meet several criteria, including operating from a physical facility—either owned or rented—and meeting the Small Business Administration’s definition of a small business, which is determined by employee count and NAICS code.

Businesses awarded grants must commit to remaining at their current location for a minimum of two years if receiving up to $25,000, or four years for larger grant amounts. It’s important to note that certain expenses are not eligible for reimbursement. These include site acquisition, vehicles and heavy equipment not permanently located in the facility, any improvements already funded by other state grants, lease costs, and soft costs. Applicants must also secure all necessary local approvals, such as zoning and building permits, and obtain landlord permission if leasing their space.  

Find out more or apply directly through state site.