New Jersey businesses with 10 or fewer full-time employees and no more than $1.5 million in annual revenue can soon apply to receive low-cost financing of up to $50,000 through the state’s Main Street Micro Business Loan. Loans have a standard 10-year term with an interest rate of 2%. No payments will be due and no interest will be charged for the first year of the loan period.
The application period opens October 6th. For more information, CLICK HERE. (N.J. Economic Development Authority)