Small Business Resources Due to COVID-19 Pandemic
The NJ Small Business Emergency Assistance Grant Program – Phase 2 opens for applications on Tuesday, June 9th at 9 am, in both English and Spanish. NJEDA staff will process the applications on a first-come, first-served basis. There will be no application fee. A sample application is available online, in both English and Spanish.
The Chamber of Commerce Southern New Jersey is hosting a webinar on June 3rd, from 1:30 pm – 2:30 pm about the $50 million expansion of the New Jersey Economic Development Authority‘s Small Business Emergency Assistance Grant Program. Tune in to learn about the new, expanded eligibility requirements for the grant, as well as when the application period will open and how best to apply.
Phase 2 Program Overview and Eligibility
NJEDA will award a total of $45 million in federal CARES Act funding to small businesses. To support the Governor’s commitment to diversity and inclusion, $15 million will be reserved for businesses in Opportunity Zone-eligible census tracts, $15 million of Phase 2 funding will be set aside to support qualified businesses located in one of the 715 census tracts that were eligible to be selected as a New Jersey Opportunity Zone.
[This census tract map is provided as a courtesy and for informational purposes only. The link directs you to a site not hosted by the State. Although the data used by that website may have been provided by NJEDA as a courtesy to the public, the State and NJEDA are not responsible for and make no representation with regard to any information or content on that website. The State and NJEDA may use the same software and information to review grant applications but reserves the right to use any other appropriate software and/or information to determine the location of an application in relation to Opportunity Zone eligible census tracts.]
Additionally, all NAICS code restrictions from Phase 1 of the grant will be removed for Phase 2.
Your organization may use Phase 2 grant funding to…
Reimburse revenue lost as a result of a business interruption caused by COVID-19. Funding cannot be used for capital expenses, including construction.
Phase 2 Grant Award Amounts
- Minimum grant amount (per application): $1,000
- Maximum grant amount (per application): $10,000 (for entities)
Your organization is eligible for a Phase 2 Emergency Relief Grant if…
- You have 25 or fewer full-time employees, as reported on most recent WR-30 filing with the New Jersey Department of Labor
- You have a physical commercial location in the State of New Jersey
- Home-based businesses must be based at a home located in New Jersey
- You are 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
- Your 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
You can learn about other NJEDA programs and see what you may qualify for using the NJ COVID-19 Business Support Eligibility Wizard. Explore how NJEDA determines grant size with the Grant Size Estimator.
- Goes live on Tuesday, June 9th, at 9:00 am ET
- Apply at: https://cv.business.nj.gov
- Application is on a first come, first serve basis.
The US Chamber of Commerce has put together a PDF that explains the Coronavirus Aid, Relief, and Economic Security Act: What Small Businesses Need to Know. Additional information is available on their website.
The New Jersey Business Action Center’s Helpline is now available from 8:00 am-9:00 pm, seven days a week. Call 1-800-JERSEY-7 to address any concerns you or your employees have.
The Gloucester County Board of Chosen Freeholders and the Department of Economic Development would like to share a website devoted to business concerns during the coronavirus emergency. The State of New Jersey created a website and will be updating information as it becomes available.
The Gloucester County Office of Economic Development will be the main point of contact for business during this unprecedented time. We can be reached at 856-384-6930 or via email at [email protected]