Tax Tip #218
Main Street Acquisition Support Grant
The Main Street Acquisition Support Grant offers up to $50,000 to reimburse an eligible NJ small business for closing costs related to an NJ commercial property that the business purchased to operate from.
To qualify, the closing must have taken place after 10/1/2024, and the grant application date must be no later than one year from date of closing. A nonrefundable fee of $500 is due at time of application approval.
The property must remain occupied by the grantee for a minimum of five years, but applicants are permited to lease a portion of the purchased property to a third party. Small businesses must occupy at least 1,000 square feet of total usable square footage of the building.
Profit or non-profit entities are both eligible, and only new purchases qualify for the grant.
Want to apply? Visit njeda.gov
If you have questions or would like assistance in applying, please reach out to a Goldstein & Loggia team member.
