Resources for NJ Employers/Businesses

Bergen County SealCOUNTY OF BERGEN ANNOUNCES GRANT PROGRAMS TO PROVIDE FINANCIAL RELIEF FOR MUNICIPALTIES AND SMALL BUSINESSES IMPACTED BY COVID-19 PANDEMIC


From the New Jersey Economic Development Authority:

The NJ EDA has a new Small Business Assistance Grant Program.

The application process starts today (June 10, 2020) at 9am. It is first-come, first-served.

The eligibility requirements have been expanded from the original program to include all NAICS codes, and sole proprietors and home-based companies are also eligible.

The application will take about 25-30 minutes to complete. It cannot be saved for someone to come back to it, so be prepared to fill it out in one sitting.

 

Our Board just approved a $50M expansion of NJ’s Small Business Emergency Assistance Grant Program. This will support a broader range of #COVID19 impacted small businesses and will ensure funds are distributed equitably. Here’s how: http://www.njeda.com/covidgrantprogramexpansion

 

The NJEDA Board voted today to expand our Micro Business Loan Program. The $10 million program will provide loans up to $50,000 to businesses with 10 or fewer employees, with $3.5 million set aside for OZ-eligible census tracts:  https://www.njeda.com/microbusinessloanexpansion

 

Paycheck Protection Program (PPP):

You can still apply for PPP; there is still money available through the program and you may benefit from program modifications.

The Paycheck Protection Program Flexibility Act relaxes some of the original restrictions of the program:  

Expands the timeframe to use the loan from 8 weeks to 24 weeks;

Reduces the 75/25 rule on payroll costs to 60/40; and

Extends the deadline to rehire laid-off workers from June 30 to December 31, 2020.

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program#:~:text=The%20Paycheck%20Protection%20Program%20is,%2C%20mortgage%20interest%2C%20or%20utilities.


https://assistance.business.nj.gov/

 

https://www.nj.gov/labor/employer-services/business/covid.shtml

 

https://www.njeda.com/about/Public-Information/Coronavirus-Information

 

https://faq.business.nj.gov/en/collections/2198378-information-for-nj-businesses-on-the-coronavirus-outbreak