[PRESS RELEASE] – TRENTON, N.J., April 9, 2026 – The New Jersey Economic Development Authority (NJEDA) will open applications for the New Jersey Lending for Equity, Access, and Financing (NJ LEAF) Program on April 20.
The $15 million loan program will provide low-cost financing of up to $1.5 million to eligible adult-use cannabis manufacturers, cultivators and testing laboratories, expanding upon NJEDA’s already established cannabis-focused financial tools, empowering small businesses and advancing the state’s commitment to equitable economic development.
WHAT: The NJ LEAF Program will provide lending options for both fixed assets and working capital, helping eligible businesses grow and stabilize their operations in New Jersey. Fixed asset loan amounts will range from $100,000 to a maximum of $1.5 million, and working capital support loans will extend from $100,000 to a maximum of $500,000. The funding options offer valuable resources for cannabis businesses to invest in property, upgrade equipment and cover day-to-day operational expenses.
WHO: Eligible businesses must hold a valid and current recreational Class 1- Cannabis Cultivator, Class 2 – Cannabis Manufacturer, or Testing Laboratory annual license digital card as per the final recommendation issued by the New Jersey Cannabis Regulatory Commission (NJCRC). In addition, businesses must be based in New Jersey, employ fewer than 250 full-time employees and must have been in operation for at least one calendar year with annual gross revenues of $5 million or less.
Five percent of funding under the program will be set aside for businesses located in Impact Zones, which are areas designated by NJCRC statute that were disproportionately impacted by cannabis prohibition and meet other statutory criteria.
For more information on eligibility and funding uses, visit www.njeda.gov/nj-leaf or email [email protected].
WHEN: Applications for the NJ LEAF Program will open at 10 a.m. on April 20. Click here to apply.
An informational webinar will be held at 10 a.m. on April 20. Click here to register.
To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov, and follow @NewJerseyEDA on Facebook, Twitter, Instagram and LinkedIn.
