Bill > A4868

This bill establishes the Small Business Resiliency Project Loan Program within the New Jersey Economic Development Authority (EDA) to provide low-interest loans to qualified small businesses (with 50 or fewer full-time employees) for projects that improve resilience against climate change-related natural hazards. The program prioritizes businesses with a significant long-term impact on the state's economy, specific types of resiliency projects, and businesses located in municipalities that have incorporated climate change hazard assessments into their master plans. The bill also creates the "Small Business Resiliency Project Loan Fund" to hold the monies used for the loan program, which can be sourced from state, federal, or private funds.