Financing Your Manufacturing Operations
Loans & loan guarantees at below-market rates
New Jersey Economic Development Authority (EDA)
The NJ Economic Development Authority (EDA) lends directly to manufacturers at below-market interest rates and also guarantees bank loans. For example, you can get EDA loan-and-guarantee packages of:
- $2.75 million to purchase, construct or expand a facility;
- $2.25 million to cover operating expenses; and
- $2.75 million to buy or renovate machinery or equipment.
Tax-exempt bond financing of $500,000 or more is also available for these purposes.
Complete online information form and an EDA representative will contact you within one business day.
Manufacturing Investment Tax Credits
NJ Department of the Treasury
The Manufacturing Equipment and Employment Investment Tax Credit Program provides a credit against business tax liability for certain investments, including job creation and manufacturing equipment. Unused tax credits may be carried forward for up to seven tax years.
Long-term, fixed-rate financing for fixed assets
The Small Business Administration (SBA)
The SBA’s 504/Certified Development Company (CDC) program provides manufacturers and other businesses with long-term, fixed-rate financing for fixed assets. This program offers a lower down payment to acquire the assets, below-market fixed rate financing, longer repayment terms and higher limits for small manufacturers.
Federal R&D tax credits
NJ Manufacturing Extension Program (NJMEP)
R&D tax credits were established in 1981 by Congress to become more productive and competitive by engaging in research and development. As a manufacturer, you may be unaware that many of your efforts to design your products qualify as R&D and therefore could make you eligible for tax credits for expenditures associated with these activities. NJMEP can help you uncover and describe the activities that qualify and assist you in getting the appropriate tax credits. Qualify for R&D tax credits with NJMEP
Training for You and Your Employees
Get basic skills training for your employees at no charge
NJBIA Basic Skills Training Program 609-393-9000
Get training for your employees at no charge to your company in basic computer operations (Microsoft Office), math and measurement, communications (verbal, written and customer service) and English as a second language. Get training – customized to your needs – for one employee or many at a nearby county-college location or possibly at your site. The county colleges perform the training, which is underwritten by a state training grant. Details
Make your operations more lean and profitable
NJ Manufacturing Extension Program 973-998-9801
Get lean! Learn out how to eliminate waste and increase productivity and profits through the NJMEP’s hand-on, live-simulation workshops. Find out how to reap the benefits of lean with Principles of Lean Manufacturing, Principles of Lean Food Production and Lean Tools for the Office. These workshops are free to NJBIA members (a $250-$395 value). Workshops with a fee are limited to one free seat per company. NJBIA members should register by phone for priced MEP workshops.
Energy Efficiency and Cost Cutting
Get rate relief and a customized energy plan
NJBIA’s preferred energy supplier, Direct Energy, can help your business lock in rates, create budget certainty, manage risk, lower energy usage and implement alternative-energy solutions. Learn more about our partnership with Direct Energy.
Energy Shopping Guide
This guide, published by the NJ Board of Public Utilities is designed to help your company “shop for energy,” from identifying qualified third-party suppliers… to asking the right questions. Download Energy Shopping Guide
Make your operations energy efficient – and cut your energy bill
Get professional help from Rutgers University, at no cost to your business, in reducing waste and energy use. This program is designed especially for small- to medium-size manufacturers with relatively large energy and waste expenses.
Grants and interest-free loans for Clean Energy Manufacturing
Clean Energy Manufacturing Fund
The NJ Economic Development Authority’s Clean Energy Manufacturing Fund provides up to $3.3 million in grants and interest-free loans to qualified manufacturing projects in New Jersey through a competitive solicitation.
“Safe” OSHA Compliance Strategy
Find Out if Your Workplace is OSHA Compliant – and avoid future problems
A free state consultation service gives your company a safe way to find out if your manufacturing plant is OSHA compliant. Your company can arrange a free safety and health consultation with the NJ Department of Labor & Workforce Development to make sure your operations meet the complex safety and health regulations of the US Occupational Safety and Health Administration (OSHA). The results of consultations are kept confidential and are not shared with OSHA. To get started call 609-984-0785 or visit the state Labor Department’s on-site consultation Web page.