Demonstrating the Christie Administration’s commitment to the recovery of small businesses in the aftermath of Superstorm Sandy, the New Jersey Economic Development Authority (EDA) today announced significant milestones reached during July in the progress of the Stronger NJ Business Grant Program.
During July, more than 100 businesses were approved for Stronger NJ Business Grants, bringing the total number of grants approved since the launch of the program to more than 700 and the total amount approved to over $35 million.
“Great strides have been made in recent months in terms of the progress of the Stronger NJ Business Programs,” said Michele Brown, EDA Chief Executive Officer. “Between the Stronger NJ Grant, Loan and Neighborhood and Community Revitalization programs, over $126 million has been approved to date to support Sandy impacted businesses and communities. Any business that started a grant application prior to the December 31st deadline should contact us immediately as there are still grant funds available for eligible businesses.”
Recent grant approvals include businesses from impacted communities in both North and South Jersey, including Field Station: Dinosaurs in Bloomfield, Mike Romano’s Auto Body and The Music Gallery in Little Ferry, Trattoria Postiglione in Moonachie, Tandem Bike Inn in Belmar, Morrison’s Seafood in Beach Haven, Bob’s Marine in Brigantine City, and Bayshore Appliance in Keyport.
“The cost of our storm related repairs could not be passed on to our customers in this economy and the grant funds will help Morrison’s remain a viable business. We very much appreciate the help the State has provided,” said Dona Kozlowski, Administrator, Morrison’s Seafood.
In addition to grants approved, $48.1 million in Stronger NJ Business Loans have been approved for 43 businesses, and $43.6 million has been approved under the Stronger NJ Neighborhood and Community Revitalization Program, which provides funding for long-term economic revitalization priorities in Sandy-impacted communities.
The Stronger NJ Business programs are funded through New Jersey’s Community Development Block Grant Disaster Recovery (CDBG-DR) allocation from the United States Department of Housing and Urban Development (HUD). Similar to other Sandy relief grant programs, there are strict federal eligibility requirements to which the EDA and applicants must comply.Related Articles: