As an update to constituents and locally-owned businesses, Senator Robert Singer provided the following information regarding the new New Jersey Economic Development Authority (NJEDA) Small Business Authority’s grant program.
Sen. Robert Singer provided the following information regarding the new NJEDA grant program. (©iStock)
“Struggling small businesses on Main Streets across New Jersey have the opportunity to receive much needed funding to help them stay afloat during these tough times,” said Singer (R-30). “The window to apply is short, so I encourage those eligible to prepare and apply as soon as applications open. Do not miss out on this opportunity to receive assistance!”
The NJEDA will award a total of $70 million in federal CARES Act funding to small businesses.
Any business or nonprofit located in New Jersey, including home-based businesses, with 50 or fewer full-time equivalent employees (FTEs) is eligible to receive grant funding during Phase 3.
Businesses that received funding in previous phases of the program are eligible to receive Phase 3 funding.
To streamline the application process, the Authority is requiring all applicants to pre-register online. Applications will become available on a rolling basis following the pre-registration period. Pre-registered applicants will need to return to complete an application based on the following schedule:
- Restaurants – 9:00 a.m. on Thursday, October 29, 2020
- Micro businesses – 9:00 a.m. on Friday, October 30, 2020
- All other businesses, excluding restaurants and micro businesses – 9:00 am on Monday, November 2, 2020
This NJEDA link further explains the program and how to apply.
Related Facebook Post: