man standing in front of laptop screen while speaking to another man who is leaning on a counter

Jobs for New England Overview + Benefits

The Traditional Jobs for New England (JNE) program provides discounted advances to members in support of small business loans in New England that create and/or retain jobs or otherwise support economic development. As a member, you must first ensure that the borrower you are working with qualifies as a small business as defined by the Small Business Act (15 U.S.C. 632(a)) and implemented by the SBA under 13 CFR part 120 504, or any successor provisions. Nonprofits are ineligible for the Traditional JNE program.


Small business loans funded by JNE advances must meet the job creation or economic development requirements listed below. 

Job Creation + Retention

  • Create at least one job for every $25,000 of program funds disbursed
  • Demonstrate that jobs would be lost in the community if the loan was not made

Economic Development

  • Improve, diversify, or stabilize the economy of a community
  • Stimulate other business development
  • Revitalize a business district or community with a written revitalization plan
  • Expand a small business majority-owned and controlled by women, veterans, minorities, or person(s) with a disability
  • Modernize or upgrade facilities to meet health, safety, and environmental requirements

Note: The JNE Recovery Grant program will not be offered in 2022. 

Need More Info?

Find more details about JNE in the Frequently Asked Questions.

JNE Requirements

Learn about the application, funding requests, and reporting requirements here.

Contact

Have a question about JNE? Contact Michael Pingpank.