As we enter the third month of the COVID-19 crisis, supporting small businesses and workers is becoming more important than ever. Since the start of the pandemic, the NJEDA has awarded more than $5.5 million in grants to more than 1,660 small businesses across all 21 counties through our Small Business Emergency Assistance Grant Program. These were crucial interventions, but for every business we helped, thousands more were left in need.
Today the NJEDA Board approved Phase 2 of our Small Business Emergency Assistance Grant Program. Using $50 million in funding from the federal Coronavirus Relief Fund, this expanded program will provide grants up to $10,000 to a significantly broader array of businesses than were eligible during Phase 1, including home-based businesses and sole proprietorships. 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 census tracts that were eligible to selected as Opportunity Zones.
Applications for these grants will be available soon in both English and Spanish. There will be no application fee and we will evaluate applications on a simple first come, first served basis. More information about these grants and New Jersey’s COVID-19 response is available at
http://www.njeda.com/covidgrantprogramexpansion
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I hope you will assist us as we work to share information about these programs and how to apply with the most possible business owners. This program alone will not end the economic hardship COVID-19 has created, but it will allow us to meaningfully support thousands of businesses, workers, and communities, and that is an essential step that will move us that much closer to our goal of a speedy and robust recovery.
Thank you for your continued support. I look forward to working together as we roll out this
