NJEDA Angel Match Program

NJEDA's Angel Match Program, funded through the federal State Small Business Credit Initiative, matches angel investors' direct investment in early-stage, product-based New Jersey technology companies 1:1 with unsecured convertible notes of $100,000 to $1,000,000. Notes carry a warrant equal to 50% of principal, a 10-year term and 3% interest with no payments until year 8. Companies need at least $100,000 in trailing revenue, two full-time founders in New Jersey and a priced preferred-equity...