State & Local News
NJEDA Awards Main Street Lenders Grants
March 23, 2026
The New Jersey Economic Development Authority (NJEDA) has awarded funding to seven new micro business lenders under its Main Street Lenders Grant program. This initiative provides flexible, low-cost loans and technical assistance to support small and micro businesses across New Jersey, with a focus on overcoming capital access barriers in disadvantaged communities. The program aims to foster inclusive economic growth and job creation by enabling lenders to extend credit to underserved entrepreneurs.
- Why this matters: Procurement professionals and contractors should note NJEDA's emphasis on inclusive economic development through financial support to micro lenders, which may open opportunities for partnerships and service provision in small business financing.
- The involvement of multiple lenders, including Ascendus, Inc., Carver Federal Savings Bank, and Cumberland Empowerment Zone Corporation, highlights a diverse lending ecosystem supported by state funding.
- Organizations providing technical assistance, financial services, or economic development consulting may find new contracting opportunities aligned with NJEDA's goals.
- Businesses interested in supporting disadvantaged communities in New Jersey should consider engagement with this program as it signals state priorities in equitable economic growth.
The Main Street Lenders Grant program reflects New Jerseys ongoing commitment to small businesses and inclusive economic growth. Access to capital continues to be a barrier for many micro businesses but this program is helping ensure entrepreneurs have the resources needed to succeed, leading to greater job growth and economic activity, particularly in disadvantaged communities.
— Evan Weiss, Chief Executive Officer, NJEDA
Agencies
New Jersey Economic Development Authority
Vendors
Ascendus, Inc., Carver Federal Savings Bank, Cumberland Empowerment Zone Corporation (CEZC), Grow America, Invest Newark