T
he New Jersey Economic Development Authority offers a grant program to support small businesses in purchasing commercial properties. The Main Street Acquisition Support Grant provides up to $50,000 to reimburse business owners for closing costs, helping to boost liquidity during the early stages of property ownership.

    Launched in October 2024 with a $5 million fund, the program still has available funding for both nonprofit and for-profit businesses. To be eligible, businesses must have closed on their commercial property after the program's public application became available (October 1, 2024) and submit their grant application within one year of closing.

    Small businesses occupying at least 1,000 square feet of a commercial building are eligible to apply. However, they cannot do so before closing on their property, ensuring lenders see evidence of repayment ability. This post-closing reimbursement provides much-needed cash during the often-stressful early stages of ownership, especially when properties require renovations.

    A recorded webinar from last fall offers an in-depth look at the program and application process. The NJEDA will continue to accept applications until October 1, 2027, or until all funds are allocated, whichever comes first.