Establishes the New Jersey Non-Profit Loan Guarantee Pilot Program within the New Jersey Economic Development Authority.

The bill establishes the New Jersey Non-Profit Loan Guarantee Pilot Program within the New Jersey Economic Development Authority (EDA). The program aims to provide financial assistance in the form of loan guarantees to qualified non-profit organizations for the construction of new physical spaces. To qualify, non-profits must be tax-exempt, have been in existence for at least 10 years, and have received prior financial assistance from the state. The EDA must establish a special revolving fund, the New Jersey Non-Profit Loan Guarantee Fund, to support the program.

Establishes the New Jersey Non-Profit Loan Guarantee Pilot Program within the New Jersey Economic Development Authority.

The bill establishes the New Jersey Non-Profit Loan Guarantee Pilot Program within the New Jersey Economic Development Authority (EDA). The program aims to provide financial assistance in the form of loan guarantees to qualified non-profit organizations for the construction of new physical spaces. To qualify, non-profits must be tax-exempt, have been in existence for at least 10 years, and have received prior financial assistance from the state. The EDA must establish a special revolving fund, the New Jersey Non-Profit Loan Guarantee Fund, to support the program.