Small Business Development Center - FAQs
How do I register a trade name?
Who do I contact to register a business with the State of New Jersey for tax and employee purposes?
How do I get a tax identification number?
How do you reserve a business name?
Does the SBA offer grants to small businesses?
Can you explain the SBA Loan Guaranty Program?
What type of collateral do I need for a loan?
How do I register a trade name?
If the business name is your name, registration is advisable but not required. If the business name is not your name, registration is required.
To register a sole proprietorship or general partnership under a trade name or a name including "and Company" or "& Co.", contact the County Clerk in the county or counties where business will be conducted:
Warren County
Court House, 413 Second Street
Belvidere, NJ 07823
(908) 475-6211
Morris County
Administration & Records Building, Court Street, Registry Intake
Morristown, NJ 07960
(973) 285-6130
Sussex County
Hall of Records, 4 Park Place
Newton, NJ 07860
(973)-579-0900
For corporations, limited liability companies, limited partnerships or limited liability partnerships, a Certificate of Incorporation or Business Certificate must be filed with the State of New Jersey.
You can file online or download the New Jersey Complete Registration Package from the New Jersey website at www.state.nj.us/njbgs.
Or, contact:
NJ Division of Revenue
PO Box 308
Trenton, NJ 08625-0308
(609) 292-9292
Who do I contact to register a business with the State of New Jersey for tax and employer purposes?
All business must register with the New Jersey Division of Revenue 15 days prior to the day business opens. Sole proprietorships and general partnerships with no employees file business taxes under their social security number. All businesses with employees must file business taxes under a federal tax identification number.
To register with the NJ Division of Revenue, contact:
Client Registration Bureau
NJ Division of Revenue
PO Box 252, Trenton, NJ 08625-0252
(609) 292-1730
Go to www.state.nj.us/njbgs to register online or to download the New Jersey Complete Registration Package.
How do I get a tax identification number?
For a Federal Tax ID number, please contact the Internal Revenue Service for Form SS4. This form is available through their website at www.irs.gov.
You may call the IRS at (800) 829-3676 (Publications) and ask for the Small Business Tax Kit #454.
You will need to contact the Department of Revenue for state taxes (if any). Please consult your local telephone directory in the “State Government” section for the office in your state
How do you reserve a business name?
You can check availability and reserve a business name online from www.state.nj.us/treasury/revenue/busname.htm and clicking Online
Services or by contacting:
Division of Revenue Business Services
NJ Department of the Treasury
PO Box 308
225 West State Street
Trenton, NJ 08625-0308
(609) 292-9292
Names for in-state or domestic companies can be reserved for 120 days; out-of-state or foreign companies for one year.
Is a business license needed?
Occupations and business activities may require some form of registration, license or certification by the State of New Jersey.
The New Jersey License and Certification Guide can be downloaded from the NJ website at www.state.nj.us/njbgs and click on “Other Services – Permits and Licenses”.
You can also call the NJ Commerce and Economic Growth Commission, Licenses and Certification Hotline at (609) 777-2642 or (800) 533-0186.
Municipal and County regulations may also apply, making it prudent to contact your local authorities on regulations and permits applicable to your business.
Does the SBA offer grants to small businesses?
The SBA does not grant funds for starting or expanding a business, but it does offer a variety of loan programs via intermediaries and participating lenders.
Generally, the SBA's grant programs fund non-profits such as educational or intermediary lending organizations to provide technical or financial assistance to small businesses.
You can find some information on sources of grants from non-SBA sources on the SBA website at www.sba.gov.
Can you explain the SBA Loan Guaranty Program?
The US SBA's Loan Guaranty Program gives small businesses access to financing by guaranteeing loans by private and non-profit lenders.
The SBA is not a direct lender. Three parties are involved in SBA loans: the borrower, the lender and the SBA. The lender determines if the borrower's loan application is acceptable. If it doesn't meet the lender's criteria, the application and credit analysis may be forwarded to the SBA.
Once approved by the SBA, the lender approves and closes the loan. The borrower makes loan payments to the lender, not the SBA. Not all banks or non-bank lenders are SBA lenders.
Go to the Business Information Center on the Warren County Regional Chamber website at www.warrencountychamber.org
For statewide and national listings, go to www.sba.gov and search for the List of Certified and Preferred Lenders.
What type of collateral do I need for a loan?
Repayment ability from the cash flow of the business is a primary consideration in the SBA loan decision process but good character, management capability, collateral, and owner’s equity contribution are also important considerations. All owners of twenty percent (20%) or more of the business are required to personally guarantee SBA loans.
The SBA does not deny approval for a SBA Guaranty Loan solely due to lack of collateral, however, it can be used as a reason, in addition to, other credit factors.
For more information on requirements on a SBA Guaranty Loan, as well as, our guaranty loan programs available, please visit us at http://www.sba.gov/financing/indexloans.html.
Where can I get more help?
If you don't see the answer to your question, call the Centenary College Small Business Development Center at (908) 852-1400 ext. 2136 or go to the Contact Us page.
A partnership program with the U.S Small Business Administration. Additional funding provided by Centenary College, Hackettstown, NJ. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.
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