Financing and Incentives

Local Development Financing Fund (LDFF)

The Local Development Fund (LDFF) loans are funded with State of New Jersey bond funds and are available only to business located in urban aid municipalities (up to 25% of project cost – not to exceed $2 million). LDFF is a “but for” program, which requires the applicant to demonstrate that financing under this program, is critical to the project’s success.

Urban Plus

The Urban Plus program provides financial support to small, women or minority-owned businesses, manufacturers, redevelopers and nonprofit organizations in 9 endorsed New Jersey municipalities for a total of up to $3 million when other certain criteria are met.

Grow Newark Fund

The Grow Newark Fund is BCDC’s $6 million loan fund designed to provide financing to small businesses that do not meet the traditional eligibility requirements for small business bank loans. Developed in partnership with the Grow America Fund, the fund operates as a community development bank to support the creation and expansion of eligible underserved, minority- or women-owned small businesses.

First Movers Fund

Being the first to move into a neighborhood or a building can be daunting task – even if the location shows enormous potential. That is why Newark has established a special new First Movers Fund to help businesses invest in designated areas that we believe show great promise.