NJEDA Small Business Emergency Assistance Grant Program Opens June 9

The New Jersey Economic Development Authority (NJEDA) announced that the expanded Small Business Emergency Assistance Grant Program will begin accepting applications on June 9, 2020 at 9:00 a.m. The $25 million program will provide grants up to $10,000 to small businesses, with $15 million reserved for businesses in Opportunity Zone-eligible census tracts.

Overview

PPP loanOrganizations can use the funds to reimburse revenue lost as a result of business interruption from the Coronavirus pandemic. The funds can’t be used for capital expenses, such as construction.

Minimum grant amount (per application): $1,000

Maximum grant amount (per application): $10,000 (entities with more than 10 full-time employees)

Businesses will receive $1,000 per full-time employee, (based on WR-30 filing). Sole proprietorships and other companies with no full-time employees will receive the minimum grant amount.

Eligibility requirements

  • 25 or fewer full-time employees, as reported on most recent WR-30 filing with the New Jersey Department of Labor
  • A physical commercial location in the State of New Jersey
  • Home-based businesses must be based at a home located in New Jersey
  • A non-profit organized as 501(c)(3), 501(c)(4), and 501(c)(7) organizations
  • Your CEO certifies that your business: 1) Was in operation on February 15, 2020; 2) Will make a best effort not to furlough or lay off any individuals from the time of application through six months after the end of the declared state of emergency; 3) Has been negatively impacted by the COVID-19 declared state of emergency on March 9, 2020; 4) Has a material financial need that cannot be overcome without the grant of emergency relief funds
  • The business: 1) Is registered to do business in the State of New Jersey; 2) Does not have any outstanding tax liabilities; 3) Is in good standing with the New Jersey Department of Labor

More information

View complete details on the NJEDA Small Business Emergency Assistance Grant Program here.

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