Requires NJEDA to establish loan program to assist beginning farmers in financing capital purchases.

This bill creates a loan program administered by New Jersey's Economic Development Authority (NJEDA) to help beginning farmers purchase essential farming assets. It directly affects new or aspiring farmers in New Jersey who have low or moderate net worth (defined using USDA data) and engage in farming activities. The program finances agricultural land, farm buildings, and equipment like machinery, requiring applicants to be NJ residents, meet specific farming experience standards, and demonstrate access to working capital for their intended purchases. Loans must be used exclusively for farming on NJ property, and the NJEDA will set additional eligibility criteria through regulations.