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COVID-19 Small Business Resources
NJEDA Grant Program to Assist Small Businesses
As was announced last week, applications for Phase 2 of the New Jersey Economic Development Authority’s Small Business Emergency Assistance Grant Program will be available at 9 a.m. Tuesday, June 9, in both English and Spanish. The $45 million program will provide grants up to $10,000 to small businesses impacted by the coronavirus pandemic. NJEDA staff will process the applications on a first-come, first-served basis. There will be no application fee.
A sample application that business owners can use to prepare is available in English, Spanish, and 10 additional languages at https://cv.business.nj.gov.
The NJEDA received $50 million from the federal Coronavirus Relief Fund established under the Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act to support small businesses. The NJEDA will provide an additional $5 million to fund businesses that were waitlisted during Phase 1. The NJEDA will use $45 million to fund Phase 2, which will provide grants up to $10,000 to a significantly broader range of businesses than were previously eligible.
To ensure funding goes to businesses and communities that need it most, $15 million of Phase 2 funding will be set aside to support qualified businesses located in one of the 715 census tracts that were eligible to be selected as a New Jersey Opportunity Zone. Click HERE for the OZ mapping tool.