$5 million has been allocated to the Small Business Lease – Emergency Assistance Grant Program (SBL-EAGP), which allows businesses in 64 legislatively designated municipalities, including Woodbury, to apply for grants of up to $10,000 for lease costs.
The program, which has already allocated $10 million to roughly 1,000 businesses, assists small business owners impacted by the COVID-19 pandemic.
This program has helped nearly 1,000 small businesses owners pay their leases during the unprecedented economic fallout from COVID-19.
The SBL-EAGP, managed by the New Jersey Redevelopment Authority (NJRA), is one component of a broader Main Street Commercial Corridors Relief Package paid for with federal CARES Act funding.
The program is targeted to businesses with 5,000 square feet of leased space or less, and requires standard debarment and legal qualifications from applying businesses. Applications can be found online, and funds are distributed on a first-come, first-served basis. The application opens on Monday, February 22nd at 9:00 a.m. and will remain open until the funds are exhausted
Through the SBL-EAGP, small businesses located in NJRA’s 64 legislatively designated municipalities that have been adversely impacted by COVID-19 can apply for up to $10,000 to assist with lease payments. Eligible applicants include:
- Tenants leasing commercial space in mixed-use buildings,
- Tenants leasing space in commercial buildings, and
- Tenants leasing space to operate a storefront business
More information will be made available at: www.njra.us