SNJDC COVID-19
MEMBER UPDATE

April 15, 2020
Emergency Assistance Loan Program
The NJEDA's Emergency Assistance Loan Program went live on Monday morning and received more than 2,800 applications requesting over $205 million dollars in relief. The EDA encourages those interested to continue to submit applications for the next 24 hours. All applications will be reviewed for potential additional rounds of funding becoming available or to connect with partner banking organizations.

The NJ Entrepreneurship Guarantee Program will open next Monday. Targeted towards entrepreneurs in the innovation industry, a $5 million program that encourages investment by encouraging private sector investors to provide additional working capital loans to NJ-based entrepreneurial businesses in which the investor is already an equity holder. The NJEDA provides a guarantee of an investor loan advanced for working capital to an entrepreneurial company that has been impacted by COVID-19.


Click here for more information.
Unemployment Insurance
The NJ Department of Labor has issued new guidance pertaining to self employed and independent contractors. Assistance may be available to workers who are impacted by COVID-19, but not eligible for regular Unemployment Insurance benefits, through two federal programs: Pandemic Unemployment Assistance and the Families First Coronavirus Response Act.

Click here for more information.
Multi-State Regional Advisory Board
The Governor's Office has announced the formation of a multi-state partnership with New York, Pennsylvania, Delaware, Connecticut and Rhode Island to coordinate mitigation efforts, and guide our re-opening process.

The purpose is to develop a coordinated plan for reopening the state, once a timeline has been established. The State and Governor's office is asking for continued participation by the SNJDC and our partner organizations to provide input and guidance on the best approach to move forward.

Any questions or input you may have can be sent to the SNJDC for response or please visit the State of New Jersey’s site through the Business Action Center found here

Southern NJ Development Council | (856) 228-7500 | snjdc.org