SNJDC COVID-19
MEMBER UPDATE

April 17, 2020
Program to Support CDFIs
Today the NJEDA announced partnerships with six Community Development Financial Institutions (CDFIs). These partnerships will leverage New Jersey-based CDFIs to provide between $20 million and $30 million in low-cost financing to small and microbusinesses and nonprofits impacted by the COVID-19 outbreak.

Approximately $2 million has been distributed to-date out of the EDA's Emergency Assistance Grant Program. The CRDA has provided additional funding of $2 million for Atlantic County businesses. The EDA is open to receiving additional donations to support the more than 34,000 applicants seeking funding for grant programs.

Click here for more information.
Unemployment Insurance
The NJ Department of Labor saw a decline in the number of new unemployment claims filed last week, while the number of workers who have sought benefits since mid-March surpassed 718,000.

A record 429,388 residents are now receiving unemployment benefits, a number that is certain to rise as more claims are processed.

The DOL has posted a Guide for independent contractors and 1099 employees on their web site.

Click here for more information.
Multi-State Regional Advisory Board (Updated)
The Governor's Office has announced the appointments of former CDC Acting Director Dr. Richard Besser and former Secretary of Homeland Security Jeh Johnson to join alongside George Helmy, the Governor's Chief of Staff, as representatives to the multi-state regional advisory board council to coordinate mitigation efforts, and guide our re-opening process.

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