Before completing the application for the Entrepreneurial Guarantee Program please note that this is a
two-part application
initiated by the Investor seeking the guarantee
AND
finalized by the NJ company in which the investor is/has provided funding.
Please note, Application submissions are required to be 1:1 between one unique (per SSN# or FEIN#) investor and Entrepreneurial business, per guarantee agreement. If related entities (but with different FEIN’s or agreements) made a combined investment in to the Entrepreneurial business, they will be required to submit multiple applications.
Please be sure you meet
all eligibility criteria
before applying which include:
Investor Applicant requirements
Investor applicant has provided previous funding to the NJ company in the form of a convertible note, SAFE or equity as of March 9th, 2023 or prior
That same Investor applicant is providing/has proved funding after the date of March 12, 2023 which serves as the object of the sought guarantee
The Investor applicant is not a founder/employee of the company
The note for which the guarantee is being sought has at least a one year maturity, with no current payments and no collateral
The Entrepreneurial Business Requirements
Has a minimum of 50% of employees in NJ (as of December 31, 2022)
Has fewer than 25 total employees at the time of application and as of December 31, 2022
Has under $5 million in trailing twelve-month revenues
Has its corporate headquarters in New Jersey (including at least one C suite member with a principal office in New Jersey)
Falls under one of the eight sectors outlined in Governor Murphy’s economic plan (advanced manufacturing, information/technology, life sciences, finance and insurance, clean energy, food and beverage, advanced transportation, film and digital media)
Is registered to do business in NJ and can certify that the company is in good tax standing with the State
Is in good standing with the Department of Labor and Workforce Development
If you do not meet
all the eligibility requirements
outlined above,
do not proceed
with the following application for the Entrepreneur Guarantee Program