Requires EDA to provide loans through small business loan program at lower interest rates, with more flexible repayment terms if issued to small businesses owned or controlled by certain veterans, and prohibit certain fees.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill directs the New Jersey Economic Development Authority (EDA) to offer loans to small businesses, particularly veteran-owned businesses, at lower interest rates and with more flexible repayment terms. It prohibits certain fees associated with these loans. The bill also aims to support dairy farmers through specific loan program guidelines and requirements for joint applications.
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