NJEDA Main Street Acquisition Support Grant
New Jersey Economic Development Authority (NJEDA)
Up to $50,000 (one grant per business EIN)
Up to $50,000 reimbursement of closing costs for NJ small businesses purchasing commercial property to operate from.
The Main Street Acquisition Support Grant reimburses eligible New Jersey small businesses for closing costs on the purchase of a commercial property from which the business will operate. The pilot program offers up to $50,000 per business for a single eligible location and requires the business to occupy at least 1,000 square feet of usable commercial space. Awardees must commit to operating from the purchased New Jersey location for five years and allow NJEDA to file a deed restriction on the property.
- Funding type
- Grant
- Level
- State
- Amount range
- $50,000
- Realistic amount
- $25,000-$50,000 depending on closing costs for a single eligible location
- Deadline
- Rolling: apply no later than one year from the date of property closing (closing must occur after 10/01/2024).
- Status
- active
- States
- NJ
Who qualifies
- Must be a New Jersey small business meeting SBA size standards for its NAICS code
- Must purchase a New Jersey commercial property from which the business will operate at least 1,000 sq ft of usable commercial space
- Closing must occur after 10/01/2024 and cannot be a refinance of an existing loan
- Purchase must be an arm's-length transaction with a conventional lender (SBA, CDFI, MDI, bank, credit union, or qualifying state/county/city loan)
- Must provide a current New Jersey Tax Clearance Certificate before NJEDA approval
- Must be in substantial good standing with NJEDA, NJ Department of Labor, and NJ Department of Environmental Protection
- Awardee must certify it will operate from the purchased NJ location for the five-year grant term
Who is not eligible
- Businesses purchasing vacant land or property for residential use only
- Businesses using cash, seller financing, or hard-money financing for the purchase
- Businesses that have already refinanced the property
- Businesses not in good standing with NJ state agencies
- Businesses that do not meet SBA small-business size standards
What it covers
Eligible expenses
- Closing costs associated with the purchase of an eligible New Jersey commercial property
Ineligible expenses
- Property purchase price or down payment
- Refinance closing costs
- Residential-only property costs
- Vacant land acquisition
How to apply
-
1
Review program specifications and FAQ
Read the Main Street Acquisition Support Grant Board Memo, Program Specifications, and Application Checklist on the NJEDA portal to confirm property and business eligibility.
~1 hrs
-
2
Purchase qualifying NJ commercial property
Complete an arm's-length purchase of a New Jersey commercial property with a conventional lender after 10/01/2024. Ensure the business will occupy at least 1,000 sq ft of usable commercial space.
-
3
Obtain NJ Tax Clearance Certificate
Request a current Tax Clearance Certificate from the NJ Division of Taxation; this must be submitted before NJEDA approval.
~1 hrs
-
4
Submit online application within one year of closing
Complete and submit the application through the NJEDA Main Street Acquisition Support Grant portal, including closing documents, ownership disclosures, and required certifications.
~4 hrs
-
5
Await award and accept deed restriction
If approved, sign the grant agreement and allow NJEDA to file a five-year deed restriction on the purchased property.
~1 hrs
If you bought the property through a real-estate holding company, the small business must either wholly own that holding company or have identical owners and ownership percentages—any mismatch makes you ineligible.
Deadline & timing
Program is a pilot. Closing must be a new purchase (not a refinance) and occur after the program opened on 10/01/2024. Grant application must be submitted within one year of closing.
Required documents
- Closing disclosure and proof of arm's-length purchase with conventional financing
- Current New Jersey Tax Clearance Certificate
- Documentation of SBA small-business size standard eligibility
- Proof of good standing with NJEDA, NJ DOL, and NJ DEP
- Ownership structure documents (including any real-estate holding company)
- Signed certification to operate from the property for five years
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Researched and verified 2026-08-24 against the official program source. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.