SNJDC COVID-19
MEMBER UPDATE

April 24, 2020
Paycheck Protection Program & Healthcare Enhancement Act
The President has just signed the Paycheck Protection Program and Health Care Enhancement Act.

The funding package will allocate an additional $484 billion and will include:

  • $320 billion for PPP, and $60 billion for the Economic Injury Disaster Loan program, which offers emergency grants that can expedite relief;

  • Of the $320 billion allocated for PPP, there’s also a $60 billion carve-out for community-based lenders, as well as mid-sized banks;

  • $75 billion for hospitals;

  • $25 billion is intended to help ramp up the country’s testing capacity.

NJ is also awaiting guidance on how the billion dollars in aid from the federal government is to be used. Some money has gone to the business sector; however the relief funds are being held until more guidance is given by Treasury.

Click here for more information.
Small Business Emergency Assistance Loan Program 
On Wednesday, the application window opened for the NJEDA's Entrepreneurial Program. Qualified businesses must submit a 2 part application from both the business owner and investor. So far, more than 200 applications have been received, with 12 completed.

Click here for more information.
Executive Order
A new Executive Order will be coming out shortly with regard to tenant protection to permit, upon written request, tenants use their security deposits to apply to rent. Currently, this is prohibited. This applies to existing residential only leases. 

More details to follow.
State Deploys COVID-19 Saliva Test at Centers for Developmentally Disabled, Some Nursing Homes
New Jersey plans to use a new, easier-to-administer COVID-19 test to screen residents and staff at state-run facilities for individuals with significant developmental disabilities and at nursing homes in South Jersey, a strategy officials said could serve as a model for more widespread public testing as the state tries to recover from the coronavirus.

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The Chronicle
We’re soliciting sponsored content for our COVID19 Special Edition Chronicle Magazine to be delivered electronically to over 4,600 email addresses of business leaders and elected officials.

The theme is "How COVID19 is Impacting South Jersey" and we are offering SNJDC members an opportunity to provide sponsored content.

Click here for more information.
Southern NJ Development Council | (856) 228-7500 | snjdc.org