Welcome to the NJ State Veterans Chamber of Commerce
Creating a better & fairer economy for veterans and veteran business owners
COVID-19 Update
NJ EDA has rolled out a number of programs to help small businesses during the COVID-19 outbreak.The NJSVCC will partner with NJ EDA to provide assistance with SBA disaster loan applications. If you are interested in having us help you fill out a SBA disaster loan application, please send us an email at info@njveteranschamber.com
Here is a look at the NJ EDA programs:
- Small Business Emergency Assistance Grant Program: A $5 million program that will provide grants up to $5,000 to small businesses in retail, arts, entertainment, recreation, accommodation, food service and other services — such as repair, maintenance, personal and laundry services — to stabilize their operations and reduce the need for layoffs or furloughs.
- Small Business Emergency Assistance Loan Program: A $10 million program that will provide working capital loans of up to $100,000 to businesses with less than $5 million in revenues. Loans made through the program will have 10-year terms with zero percent for the first five years, then resetting to the EDA’s prevailing floor rate (capped at 3%) for the remaining five years.
- Community Development Finance Institution Emergency Loan Loss Reserve Fund: A $10 million capital reserve fund to take a first loss position on CDFI loans that provide low-interest working capital to microbusinesses. This will allow CDFIs to withstand loan defaults due to the outbreak, which will allow them to provide more loans at lower interest rates to microbusinesses affected by the outbreak.
- CDFI Emergency Assistance Grant Program: A $1.25 million program that will provide grants of up to $250,000 to CDFIs to scale operations or reduce interest rates for the duration of the outbreak.
- NJ Entrepreneur Support Program: A $5 million program that will encourage continued capital flows to new companies, often in the innovation economy, and temporarily support a shaky market by providing 80% loan guarantees for working capital loans to entrepreneurs.
- Small Business Emergency Assistance Guarantee Program: A $10 million program that will provide 50% guarantees on working capital loans and waive fees on loans made through institutions participating in the NJEDA’s existing Premier Lender or Premier CDFI programs.
- Emergency Technical Assistance Program: A $150,000 program that will support technical assistance to New Jersey-based companies applying for assistance through the U.S. Small Business Administration. The organizations contracted will be paid based on SBA application submissions supported by the technical assistance they provide.
For more information, please visit www.cv.business.nj.gov
Veteran Businesses in New Jersey
Combining our many voices into one singular voice
We have vast and significant experience in bringing order to chaos and being able to think quickly on our feet. We need to take those experiences and use it to create a fairer and better economy for veterans in the state of New Jersey.
Access to Capital Event
Our most recent access to capital event was well attended and put veterans in touch with banks and CDFIs to help them gain access to capital to take their businesses to the next level. Watch the video of the event here.
Giving Testimony
NJSVCC CEO Jeff Cantor gives testimony to the New Jersey disparity in state procurement study commission. This commission of State Senators, Assemblypeople, and representatives from state government are tasked by the Governor to provide a way forward for diverse businesses
Donate Now
We are dedicated to improving the lives of those in our community. Your contribution today helps us make a difference. We are collecting donations for federal workers in the US Coast Guard & National Park Service in New Jersey that have been affected by the government shutdown. Thank you for the consideration.
Veterans Foundation
Our Veterans Foundation
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Your donation is tax deductible
Our foundation is a 501(c)3 entity which gives back for veterans causes
Your donation is tax deductible
Your donation is tax deductible
Your donation is tax deductible
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Giving back!
Your donation is tax deductible
Giving back!
We believe in giving back to the veterans community so please support the foundation