In this episode
Kelly and Brian welcome Christina Fuentes, Managing Director of Community Development & Small Business Services at the New Jersey Economic Development Authority (NJEDA). They discuss the many NJEDA programs designed to help and support small businesses in 2021 and beyond.
Key Takeaways from Christina Fuentes:
- The NJEDA is a quasi-authority; We are part of the state, but we’re not of the state. This means that NJEDA will charge fees on products such as grants or loans which covers our business expenses.
- The Main Street Recovery Finance program is a fund that allows NJEDA to create products to service small businesses, but also micro businesses as well. At NJEDA, we define a micro business as a business with 10 or less full-time employees and making less than $1.5 million in revenue.
- The NJEDA website has a small business services page which can be used as a resource guide.
- Key Point: Make sure your business is properly registered with the state and that you are paying your taxes or quarterly reports are filed. Your business will not be eligible for NJEDA products if you aren’t properly registered. Go to www.business.nj.gov to confirm your business registration.
- The NJEDA has offices in Newark, Trenton, and Camden. We have fully started to roll out staff into those offices. Business owners can also go to our website, www.NJEDA.com, fill out a customer service intake form, and connect with a business development officer or a small business liaison. Also, when you are on the website, scroll to the bottom, input your email, and then you can keep abreast of every product that comes out of the NJEDA for small businesses.