The New Jersey Economic Development Authority (NJEDA) will launch the application for its Small Business Emergency Assistance Grant Program on April 3 at 9:00 am. A link to the grant program application will be posted on the State’s COVID-19 Business Information Hub. The grant program is part of a package of initiatives announced last week to support businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19.
“The launch of the grant program application marks a critical step in the State’s support of the small and mid-sized businesses that are feeling the impact of the novel coronavirus outbreak,” said NJEDA Chief Executive Officer Tim Sullivan. “The livelihood of business owners and their employees hinges on how successfully businesses can withstand this ongoing challenge. Under Governor Phil Murphy’s leadership, the State is committed to advancing resources that will help businesses recover.”
The NJEDA’s COVID-19 initiatives focus on businesses that have been hit hardest by the novel coronavirus outbreak: local small businesses, mid-size businesses that have had to close or drastically reconfigure operations, and new businesses that were just getting on their feet before the crisis hit. The programs provide a suite of compatible offerings that address these businesses’ varied needs and include mechanisms to provide funding and assistance as quickly as possible.
The NJEDA developed these relief programs using the results of an online survey of small and mid-sized businesses conducted over March 20 and 21. The survey, which was conducted in both English and Spanish, received more than 2,000 responses. Key findings that informed the NJEDA’s new programs include:
Applications for other NJEDA COVID-19 programs, including no/low interest loans, entrepreneurship support, and technical assistance for those applying for U.S. Small Business Administration loans will be available in the coming weeks. Businesses and nonprofits can find eligibility requirements for all programs on the COVID-19 Business Information Hub or use the Eligibility Wizard to identify which emergency assistance programs they may want to consider for their business’s specific needs. Comprehensive information about New Jersey’s response to the novel coronavirus outbreak is available here: https://covid19.nj.gov/.
Eligibility Guidelines for Small Business Emergency Assistance Grant Program
Businesses applying for the Small Business Emergency Assistance Grant Program must provide:
NJEDA has developed an online Grant Award Size Estimate Calculator to help eligible businesses understand what their potential grant size might be.
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