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  1. Stronger Fairer

  2. Small Business Support By The Numbers

  3. Premier Lender Program • Premier Lender with NJEDA. This allows the bank access to a streamlined loan approval process: • Expedited financial review • Quick turnaround from approval to closing • Reduced fees - $1,750 • Lower equity injection • Borrower makes one payment to Provident Bank

  4. Premier Lender Banks

  5. Premier Lenders • The NJEDA partners with more than two dozen Premier Lender banks to offer low-cost financing opportunities through a variety of small business lending programs. • Premier Lender status allows NJEDA’s banking partners to be more responsive to the needs of New Jersey businesses through a streamlined loan approval process. • The NJEDA reviews finance applications within seven to ten business days, allowing for an expedited flow of capital to growing businesses in the state. • Quick turnaround time from approval to closing provides a strong incentive for borrowers, while the NJEDA’s exposure by participating in or guaranteeing a portion of a loan reduces the lender’s risk.

  6. NJEDA Expertise and Benefits • Access to capital • Access to State resources - Business Action Center - Choose New Jersey - Higher Education • Access to industry leaders and key influencers

  7. Up to $2mm loan participation for fixed assets • Up to $1.5mm loan guarantee for fixed assets • Up to $750m line of credit guarantee • Owner occupied • Lower interest financing • Working off US Treasury rates • Rates based on factors such as credit worthiness • Create/maintain jobs for every $65m of EDA exposure

  8. Premier Lender Program Dollar Amount Uses Benefits Eligibility Up to $2 million loan participation or 1.5 million loan guarantee for fixed assets Fixed assets, working capital and/or refinancing of existing debt For small businesses, Lower cost financing Must commit to create or retain one new full-time job for every $65,000 in EDA exposure within two years Up to $750,000 loan participation or $1.5 million loan guarantee for working capital For participating banks, faster turnaround and reduced risk 1.1X Global Debt Service Coverage Ratio Line of Credit Guarantees up to $750,000 100% loan to value (on a case by case basis) for real estate and 90% for equipment

  9. Access Dollar Amount Uses Benefits Eligibility Areas Must commit to create or retain one new full-time job for every $65,000 in EDA exposure within two years. 1.25X Debt Service CoverageRatio for 2 years. Loan to value may be greater than 90% on equipment and greater than 100% on real estate based on other underwriting factors. Low cost financing. More flexibility for borrower by placing greater emphasis on cash flow and less emphasis on hard collateral. Benefits for lenders include more flexibility by reducing the lender’s overall exposure, faster turnaround, and EDA subordinate lien position on collateral. Loan participation or guarantee up to $1 million for fixed assets or $500,000 for term working capital. Direct loan up to $500,000 for fixed assets or $250,000 for term working capital. Fixed assets or term working capital. .

  10. ThankYou Mathew Abraham Regional Director - North 973.855.3454 @NewJerseyEDA Monika Athwal Business Development Officer 609.203.3696 2019