TRENTON, N.J. (April 9, 2026) – The New Jersey Economic Development Authority (NJEDA) is set to open applications for the New Jersey Lending for Equity, Access, and Financing (NJ LEAF) Program on Monday, April 20, 2026. This $15 million loan initiative aims to provide low-cost financing of up to $1.5 million to eligible cannabis manufacturers, cultivators, and testing laboratories, building on NJEDA’s existing efforts to support businesses within the cannabis industry.
Program Overview
The NJ LEAF Program is designed to offer lending options for both fixed assets and working capital, enabling eligible cannabis businesses to expand and stabilize their operations in New Jersey. Loan amounts for fixed assets will range from $100,000 to a maximum of $1.5 million, while working capital loans will provide support from $100,000 up to $500,000. These funding options will help businesses invest in property, upgrade equipment, and manage day-to-day operational costs.
Eligibility Criteria
To qualify for the NJ LEAF Program, businesses must possess a valid and current recreational Class 1 (Cannabis Cultivator), Class 2 (Cannabis Manufacturer), or Testing Laboratory annual license issued by the New Jersey Cannabis Regulatory Commission (NJCRC). Additionally, eligible businesses must be based in New Jersey, employ fewer than 250 full-time employees, and have been operational for at least one calendar year, with annual gross revenues not exceeding $5 million.
Support for Impact Zones
Five percent of the funding under the NJ LEAF Program will be reserved for businesses located in Impact Zones. These are areas identified by NJCRC that were disproportionately affected by past cannabis prohibition policies and meet specific statutory criteria.
For more detailed information regarding eligibility and funding uses, please visit NJEDA’s NJ LEAF page or contact them via email at businessbanking@njeda.gov.
Application Timeline
Applications for the NJ LEAF Program will be available starting on Monday, April 20, 2026, at 10:00 a.m. An informational webinar is scheduled for Thursday, April 16, 2026, at 10:00 a.m., offering prospective applicants vital insights into the program.
For further inquiries regarding NJEDA resources for businesses, contact NJEDA Customer Care at 844-965-1125 or visit njeda.gov for additional information and updates.